|Day Low/High||105.30 / 115.28|
|52 Wk Low/High||42.51 / 401.49|
Newsletter advisors this year are focused on smaller niche plays in private equity, business development, credit, mortgages, money transfers and fintech.
UPST has corrected down near the 200-day moving average.
In the wake of Monday's tech rout, here are a few things I like about the tech sector at this crazy moment in time, along with a few things that have me concerned.
While it was not a particularly good day, we're seeing necessary action after the run we have had.
In addition to the sharp turn in Tesla, other high-beta high PE names have lost their momentum.
Here's our price target for now.
Here's a strategy for when to buy UPST.
The process of closing the gap between large-caps and secondary stocks may be starting today.
Many of the stocks favored by speculative traders are coming on strong.
We don't have a lot of price history, but what we do see is bullish for DOCS.
The easiest mistake to make in this market is to try too hard to predict overall market direction.
And that's going to stick around for a while longer.
The market is going to continue to trade quite thin until after Labor Day, so it's important to manage trades carefully.
We saw limited pockets of strong momentum and some random movement, as eyes are now one earnings by COIN, UPST.
Let's look at setups in Upstart Holdings, Palantir and Zoom.
It's tough to have much confidence in this market, but a few things are working.
UPST looks like it can retest its May low in the weeks ahead.
We're going to see some random action in front of the weekend.
This action is not at all 'frothy,' which is a common contrary indicator that the bears embrace.
I expect the trading action to remain choppy but there should be some dip buying interest on pullbacks.
Stocks with good charts, good fundamentals, and good stories are attracting buyers.
This is one of those situations where you just have to wait until the news is out and is digested.
It's fun to watch the wild action, but it's not healthy for the overall market.
There's one name I've added to today.
The ARK Innovation fund is down and so is the Russell 2000 fund, and many traders are frustrated.
The most oversold stocks are seeing the best bounces.
It is very easy to find yourself stuck in a 'good' stock that just isn't doing anything right now.
It is premature to declare the rotation back into small-cap stocks is dead.
UPST's sharp pullback in April mirrors the sharp pullback in February and March.
The issue now is whether stocks and indices can find support before giving back too much of yesterday's gains.