|Day Low/High||0.00 / 0.00|
|52 Wk Low/High||0.14 / 13.57|
This rally caught many institutional investors by surprise and when that happens they tend to put money in the most liquid names very fast.
This trading is starting to create some fairly deep pullbacks.
While today's action isn't attractive, we were ripe for a little profit-taking.
If you listen to some pundits, you are foolish to trust the trend and should be rushing to sell in order to prepare for the disaster that awaits naive bulls.
Sharp intraday reversals tend to lead to more selling.
Themes like cannabis tend to persist longer than many think they will.
Strength in Apple and other FANG names are pluses, as are pockets of action in gold mining, cannabis, biotechnology and shipping.
The market always likes to be reassured by a dovish Fed.
Trading opportunities have been very good and that is the main thing that matters now.
It is never a bad idea to take some partial profits when you have the opportunity.
When the indices aren't offering much opportunity money flows into individual speculative names.
The important thing to keep in mind when working a trade is that we are embracing the fact that we can't predict the future.
It's better to be part of the mindless herd of buyers than join the erudite intellectuals that will tell you why the market is wrong.
Stay focused on what is happening right now and don't be in a rush to anticipate disaster.
Market players didn't see it coming and that is what helped it gain so much strength.
With cash levels high, those players who are not well-positioned for upside action are scrambling to put money to work and are helping to propel prices higher.
Early strength was sold Monday morning but there are some signs of support.
Weak action is a refreshing change and it doesn't mean the market is going to collapse.
The swings were not big but things moved up an down several times intraday.
Without Apple doing so well Monday the indices would look much different.
Stick to your methodology and don't let worry of underperformance push you to shift your approach.
Expectations may not be very high for Marriott.
These are where my focus is until we see correlation wane.
Cannabis and tobacco are hard to equate, which Barclays' primer on the Cannabis industry misses.
Canopy Growth already has a $4 billion war chest thanks to Constellation Brands.
Underlying support is there, but I would not trust that this is a good low.
The time to scoop up Altria is now, not when some type of official announcement is made.