|Day Low/High||38.00 / 39.99|
|52 Wk Low/High||15.10 / 42.00|
It has the potential to gain strong momentum as it's mainly a technical trade.
We've had quite a run, and I hate to violate net basis, which is a long, long way off.
What is most notable is that the Covid-19 plays are leading again.
Market players are trying to navigate the rotational action.
Some -- though not all -- of the extra hardware, software and services spending currently happening would have likely taken place at a later date.
This is still a stock-pickers market as pessimists and optimists battle it out.
This is a stock worth owning as telecommuting options are likely to outlive the pandemic.
I don't have a cute acronym, but I guess we could say this is the GPS to find relative value.
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.
SMAR is one of the few names not releasing earnings right now, and appears an attractive play.
Stocks are not moving in highly correlated action, which favors stock-pickers and technical buyers.
Try a half-size position and watch for this entry point to add more if you want to play Slack before earnings in June.
Intraday trends -- relentless trends -- are becoming the name of the game, so let's focus on the rotation from Nasdaq names into the Russell 2000 and financials.
Let's see what the stock's done in the past four weeks.
Market players are far more interested in looking for opportunities to buy, rather than to sell.
They involve Costco Wholesale, Slack Technologies and Peloton Interactive.
The biotech sector doesn't look anything like a bear market.
I would want to give this trade either a long time or look for a quick drop.
Although there is great fear of the economic issues that lie ahead, there is still a hunger for speculative action in the market.
There will be some long-lasting changes in behavior that will impact the economy in many ways as it recovers.
I see no reason to build any longer-term positions but there are trades to be had.
If you are using logic, fundamentals or charts, it will be very hard to find a compelling reason to support this action.
These names should do well as long as the coronavirus is a threat, and still continue to grow once it is past.
What you are looking for right now are stocks that haven't moved that can get the credit they need.