Another round of huge gaps higher in speculative names such as GPRO ISNS LOCO MBLY reinforces the notion we are seeing froth around the tape. Other issues of note seeing huge pops are biotechs: ACAD ACHN INFI. The issue with playing the highly speculative, frothy names is whether traders can avoid getting caught without a seat when the game of musical chairs stops, making a clean getaway instead.
While this is playing out, a massive Nasdaq name like AAPL is unwinding a bit, and TSLA reversed down off its own morning gap higher.
I do not have too many names right here I am eager to buy, instead opting to let the action spill over into the afternoon. Coffee is seeing some profit-taking, while bonds continue to fall.
What are you trading this morning?
Added to $ARWR this am
Nice