News:
Markets had another strong rally yesterday. The Nasdaq led the way with a ~2% gain.
There was lots of action in the small-cap land too. Several stocks in my portfolio jumped about over 20%. I took this screenshot in the middle of the day…
I’m not trying to brag, I’m hoping to demonstrate that the market, despite the geopolitical uncertainty has turned very bullish … on some stocks.
The most notable hot sectors are energy, renewables, food, and crypto.
Bitcoin,^ GME,^ AMC,^ and TSLA^ are all moving up. That tells me the market has a strong appetite for risk.
Technicals:
The indexes are all climbing and looking extremely bullish.
The Dow and Russell 2000 are still fighting with the same resistance levels they were yesterday. <– Click the link to see those levels.
RSI levels, the VIX, and the put-to-call ratio are neutral. The market is free to move in the path of least resistance … UP!
I’m especially fond of low-float stocks right now … Never ignore the simple market mechanics. Remember, it all comes down to buyers and sellers.
Timing:
Historically April is the strongest month of the year, but it also ends the “best 6 months.”
This year the market may not have a summer lull.
In 2020 after the Covid market crash, the market rallied all summer. Certain high-flying stocks soared thousands of percent.
I’ve begun to ramp up my trading. I’m looking for big gains in the coming weeks and months.
I’ve noted some new positions below. While I’m usually quick to lock in partial profits if I’m not seeing a great reason to sell I will continue to hold 25-50% of my original position until the market clearly tells me the run is over.
“It never was my thinking that made the big money for me. It was always my sitting.”
-Jesse Livermore (Reminiscences of a Stock Operator) <– shoppable link, a must-read!
Watchlist:
*Low Float
^Open Position
*ARTW has support at $7
*SES has support at $8
^*AGRI has resistance at $5
^*RAIL has support at $5
^*SGLY is on watch
^RKDA has support at $2
EIGR has support at $9
NEXT has support at $4.25
DRTS is on watch
VYGR is on watch
^SPTN has support at $35
CRK has support at $11
LXU has support at $22
^GLNG has support at $22
FLR has support at $29
MP has support at $52.50
ALLG has support at $14
CLF is on watch