|Day Low/High||6.83 / 7.34|
|52 Wk Low/High||1.00 / 8.98|
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.
The best momentum on my screens right now are the U.S. cannabis plays that are referred to as Multi-State Operators.
It is premature to declare the rotation back into small-cap stocks is dead.
I'm feeling better about more aggressive stock picking, but I'm staying selective.
The issue now is whether stocks and indices can find support before giving back too much of yesterday's gains.
Small-caps look like they may be near the end of a two-month-long correction.
I'm currently heavily invested in several stocks that are drifting around as I'm quite confident that the eventual catalysts will come.
The action so far looks to be driven more by fear of being left out than euphoric chasing.
It is nice to see the broad selling pressure that was weighing on small-caps for the past month start to lift.
So far today, aggressive stock picking is looking like a possibility.
The more threat we see to the gun industry, the more immediate demand we'll see for their products.