|Day Low/High||25.50 / 26.48|
|52 Wk Low/High||4.27 / 30.95|
Smaller stocks that were big winners are coming back down right now, and here are some on my screen.
The primary focus is on trying to put more cash to work.
This is a very healthy market and some consolidations and pullbacks would be advantageous for trading.
This is the same sort of rotation that we saw in early September.
There are a couple of things that are helping to contain the selling.
There a several names that I expect to see strong earnings results from.
This isn't a market with a lot of very extended stocks so the chances of catching some names at support are good.
I'm not going to be distracted by all the whining about the 'big picture'.
Shares of the biotech firm Personalis could soar higher in the months ahead.
Don't be in a rush. The key to accumulating stocks in this environment is to move incrementally.
One is Abbott Labs' announcement of a quick and cheap Covid test.
Here are several names I'm looking to build on further weakness.
The hardest thing to do is to stick with the momentum and not give in to the temptation to sell prematurely.
While breadth is very good Wednesday, it isn't flowing into the speculative names.
There's nothing in the price action to indicate that a change in market character is developing.
Biotechnology is always high risk but the right plays move unlike anything else.
A positive aspect of this sort of action is that the best trading opportunities tend to stand out more.
I'm doing some dip buying amid weakness in large-cap tech stocks.
Is this just 'one day and done' selling or the start of a deeper pullback?
It isn't just the bears that would welcome a pullback in this market.
My main focus right now is on stronger defense.
We have little choice but to respect the price action above all else.
I see no reason to put much money into longer-term positions right now, but here are some of my biggest positions.
Even if you are bullish and want to try to ride the uptrend the entry points are extremely difficult.
I continue to follow the 6 names and believe several of them will recover well.
One of the best signs of a better market is the ability to rally on bad news.