|Day Low/High||14.52 / 15.42|
|52 Wk Low/High||13.04 / 31.81|
A number of gambling stocks are up on word that DraftKings plans to buy Golden Nugget Online Gaming.
Stocks with good charts, good fundamentals, and good stories are attracting buyers.
We're seeing a good supply of strong stocks, despite the moves in the major indexes.
This is a major shift in character than what we saw just a couple of weeks ago.
The main themes are bitcoin, cannabis, stocks priced under $10, small biotechnology, and small-caps in general.
Study those charts and be ready to act as things develop.
Even the solid gains on the major indexes fail to show just how good individual stock picking can be right now.
To navigate this market effectively you have to keep looking at leading sectors and themes and watch where the money is rotating.
The stock has a V-bounce appearance to the price action.
Here's what I'm trading and what's on my radar today.
Traders are shaking the trees looking for the next hot players, creating movement where little may have existed.
I'm focused on the short-term picture for a trade here.
George Soros is doing the direct opposite of what many market timers are advising right now.
I expect those that have been missing out to be lurking not too far under the surface.
Is this just 'one day and done' selling or the start of a deeper pullback?
I see NERD and new BETZ as great bets in the emerging sports betting and iGaming industry that will see gross gaming revenues reach a $1 trillion in the next decade.
What is most notable is that the Covid-19 plays are leading again.
What is interesting for traders is the increased movement in some of these secondary stocks.
For traders, it may be time for you to embrace the sloppy seconds on the trading and scalping side.
Market players are trying to navigate the rotational action.
You need not be a rip-snorting bull to still find some stocks that look pretty good on a technical basis.
Despite the lackluster action there are some pockets of good stock picking again.
Video gaming has been a beneficiary of the 'stay-at-home' theme during the Covid-19 pandemic.
Anyone attempting to navigate this market based on macro-economic analysis is going to have a tough time.
Here are some groups and names I've got my eye on.