|Day Low/High||6.29 / 6.43|
|52 Wk Low/High||2.02 / 10.37|
As we end the trading week, I believe these names can still be bought here.
Traders continue to hunt for good action as the gap narrows between extended big-cap stocks and beat-down smaller names.
Trading action seems to be shifting away from social media-driven names and into stocks with solid fundamentals and charts.
With the indices finally joining the party to the downside, we have the potential for some bottoming action.
Despite the obvious negative action in the indices, the underlying action isn't that bad right now.
My positions change very fast and I'm actively trading all these names.
I have a large shopping list, but premature accumulation will kill you in these names.
There are any number of ways the inconsistency in the market action can fix itself.
There are plenty of small-caps that have finally bounced and are now consolidating.
Negative sentiment in small-caps and biotech has become extreme and the gap-down open this morning was needed to wash out weak holders.
Several names I like are slow fading due to disinterest in small-caps.
It's tough to have much confidence in this market, but a few things are working.
Right now there's no place to hide.
As usual, we have some bears forecasting a market disaster, but overall, stocks are in good shape technically.
The end of the quarter means a new round of quarterly reports is near, so it pays to keep an eye on favorite names.
Technology strengthens, while the Dow Jones industrial average and Russell 2000 lag.
The issue now is whether there will be some 'unwinding' of that action next week.
Action like this sometimes leads to a 'don't short a dull market' response.
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.
But there's a clear lack of energy, and the meme stocks are negative for much of the market.
This is a major shift in character than what we saw just a couple of weeks ago.
The fear of missing out is going to build the longer it continues.