|Day Low/High||1.80 / 1.88|
|52 Wk Low/High||1.63 / 6.60|
I'm starting a new periodic feature that will bring you the hottest-trading stocks I see.
Conditions are still overbought, staying stubbornly sticky to the upside.
Waiting for a pullback hasn’t worked, but it is hard to find rational entry points when so many stocks are parabolic.
Keep in mind that strong action like this tends to create underlying support.
I see good reasons to be bearish but I'm not acting on that right now.
It's very tough to find charts that aren't extended after last week's V-shaped action.
When you see this sort of ugly market open, have a list of stocks you're ready to buy on weakness.
The price action doesn't look all that bad, so why not catch some dips?
The only strategy that this market seems to recognize is buying the dips.
The market may actually have a dip at some point, but the bulls will jump on any pullbacks.
I've been a net seller again as I protect some gains.
Central bankers have saved us so many times the last several years that it seems foolish to have any real worry.
Keep stops tight, and be selective with any new buys.
Their best hope of relative performance is to buy on pullbacks rather than to chase strength.
Wait for some weakness before giving this market a try.