|Day Low/High||5.58 / 5.76|
|52 Wk Low/High||4.95 / 10.09|
Valuation and all the other issues that are being discussed are secondary to the price action.
This trading is starting to create some fairly deep pullbacks.
Sharp intraday reversals tend to lead to more selling.
There are obvious signs that people are trying to put cash to work.
After two chaotic days, Wall Street is trading relatively calmly, creating opportunities for individual names to show life.
If you are trying to pick stocks for the longer term it can be quite challenging right now.
What is most interesting about the action today is a spike in the speculative action.
I'm simply focusing on individual stocks at this point and am not too concerned about the macro picture.
Just when you thought the worst was over another wave of selling would hit.
One very encouraging sign Friday is relative outperformance by names that have lately been the weakest.
This stock can become much cheaper if there is a major cycle turn occurring.
They include holding a high level of cash, keeping stops tight and being patient.
This is a battleground stock that has made big moves in both directions on earnings in the past.
If you are interested in Square longer term be patient and wait for the drama to end.
It's an interesting story but there are better places for your funds.
It is likely that value buyers will be looking for entry soon as the stock tests the $240 area.
After recent weakness in the biotech sector, here are some names to start watching.
You don't have to be Sigmund Freud to understand the psychology here.
The action started a little slowly this morning but market players shook off early jitters and are doing a nice job of building on yesterday's momentum.
There isn't any big mystery about what is going on here.
The market's reaction to James Bullard's comments this morning is following an all-too-common pattern.
The good news is that there is some stock picking that is working well.
Despite this huge move over the last five days the indices still have more work to do to make it back to highs.
The volatility trade that propped up markets is no longer available.
The bears are likely to be increasingly bold if there's a failed bounce.
Once the dip buying starts it becomes self-reinforcing.
The best thing you can do right now is work on shopping lists of potential buys.
Interest and volume in the stock picked up in September and continues to build.