|Day Low/High||10.77 / 11.17|
|52 Wk Low/High||6.32 / 13.07|
With the way this market has rotated from good to bad each day, you can't be too aggressive.
Themes such as precious metals are the best place for trading but even then, it can shift fast.
Shares of Mitek Systems are up big year-to-date and this week the mobile deposit solutions provider announced that it processed its billionth check.
The only strategy that this market seems to recognize is buying the dips.
Their best hope of relative performance is to buy on pullbacks rather than to chase strength.
But keep stops tight, as small-cap bids can disappear quickly in this dull market.
The much-anticipated corrective action is here, but it is mild and underlying support remains.
I'm checking out EYES, MITK, ORBC and gold in the early going.
It's hard to believe that central bankers have the same influence over markets.
Watch this latest V-shaped move, and don't be too quick to short.
We have much greater opportunity to buy dips in a trading range, and it helps charts develop.
Now is not the time to buy them, but they have the potential for big moves.
Bad market action is what allows good traders to produce superior results.
I'm keeping the focus on individual stock-picking, and the rare earth group is on my radar.
With the words 'quantitative easing' in the air, who knows how much higher the market can go.
Here are a few names that have solid foundations and are moving up on higher volume.
If we don't see a bounce before noon, the chances for one diminish as the day progresses.
Until the news headlines have less of an impact, individual stock picking won't matter much.
If you're trying the fade trade, don't hesitate to take profits when you have them.