|Day Low/High||15.50 / 16.99|
|52 Wk Low/High||9.76 / 20.00|
The initial target here is $16 with a secondary target of $17.50 on this breakout, with a time frame of a month or less.
The rebound didn't do much to comfort bears who were thinking that they may finally see some downside momentum.
The key right now is to see if sellers can gain traction or if this is just another 'one and done' event.
The question we'll need answered is: will taking a stake in an already traded large company offer a premium return? The answer: it depends.
It continues to be a very good market for aggressive traders that focus on stock-picking and sectors.
I like putting some of my money with incredibly successful folks who are well-connected and have a history of success.
Traders are shaking the trees looking for the next hot players, creating movement where little may have existed.
I'm not too worried about overall market action as long as this speculation continues.
This is primarily a market driven by liquidity and even if there is some corrective action, you can bet that the dip buyers are not going to wait for long before they put more capital to work.
I expect those that have been missing out to be lurking not too far under the surface.
Traders are moving quickly to find some individual stocks that are acting well.
Traders are trying hard to separate winners from losers.
Rather than a direct competitor, FMCI is acquiring a complement to Beyond Meat in the plant-based food category.
The 'don't fight the Fed' Bulls are going head-to-head with the 'sell the news' bears.
The speculative frenzy is cooling as small-cap volatility heats up.
Anyone attempting to navigate this market based on macro-economic analysis is going to have a tough time.
The good news is that there is still good liquidity but it is shifting around quickly.