|Day Low/High||6.25 / 6.61|
|52 Wk Low/High||1.00 / 8.98|
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.
Traders have to move very quickly to stay ahead of the game.
The stronger the economy, the better it is for earnings, but more likely it will pressure multiples as interest rates rise.
Momentum is nowhere near where it was a few weeks ago, but there are a couple of dozen stocks up more than 10%.
All these names, I believe, have potential positive catalysts, but they all can drift lower in a poor market.
This quiet action is what the market needs after the volatility of the past week
The longer this continues, the more anxiety there will be about being underinvested.
It's premature to predict that a low has been made, but plenty of stocks are quite washed-out already and are starting to find support.
My primary goal is to stay flexible and not just sit there.
Ammo, Inc is my Stock of the Week, but here is why I plan to hold it long term.
I believe that the corrective action of the last couple of days should be a platform for some good technical action.
Much of the cannabis money is rotating back into bitcoin plays.
My favorite group at the moment is cannabis.
Although the action in the indices today isn't very impressive, the stock picking under the surface is extremely robust.