The indices are solidly higher on excellent breadth of around 5800 advancers to 1380 decliners, but the trading in individual stocks is so strong I’ve hardly had a chance to look at the big picture.
There are a number of themes that are working well and sentiment is so upbeat that traders are chasing them aggressively. The primary moves are the lithium plays. There are three main stocks which I’ve discussed before, Lithium Americas (LAC) , Livent (LTHM) , and Westwater Resources (WWR) .
Biotechnology is seeing strong action as well following the takeover of one my top picks in the group, MyoKardia (MYOK) . I sold my position and am now looking at other potential takeover plays in the group such as Aurinia Pharmaceuticals (AUPH) and Fennec Pharmaceuticals (FENC) .
Several names on my recent buy list are doing quite well. Nautilus (NLS) , Big 5 Sporting Goods (BGFV) , Beem Global (BEEM) and Trulieve Cannabis (TCNNF) .
What is most notable about this market is that this great trading action comes in an environment with so many dramatic news headlines. Despite some of the most chaotic politics we have ever seen and a pandemic that won’t go away, the market is a feast of opportunities. Take advantage while you can. It won’t last forever.
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