At Full Attention

The rotations in this market continue to pile up. This morning, large cap technology stocks like Amazon, Google, and Priceline are all noticeably lagging, while many energy and semiconductor stocks are taking the lead. In addition, those feisty small cap stocks continue to push higher, as the Russell 2000 negated any potential bearish hanging man candlestick printed last Friday. Ironically, despite energy and chips surging higher, the solar stocks are getting pounded, namely STP, which is a stock our very own Rhino had nailed as a short idea.

The trend is obviously still higher for the market at-large, and I not interested in calling a major top. I remain net long and taking shots here and there, though I have been inclined to lock in hard-fought gains when they present themselves. Overall, though, I am at full attention and trying to stay on top of the sector and stock rotations–Not everything is going up every day.

One stock in the energy space I have been watching for a while is REXX, which you can see below on the weekly timeframe is breaking out nicely, with numerous shorts in the float to squeeze as well.

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