The market is remaining very volatile, making it very hard to initiate new positions or add to current ones even when they are acting well. I waited and pounced on three very oversold stocks with great fundamentals near their 52 week lows (EXM, DRYS, STLD) and just riding the bounce in them right now. I'm doing my best to ignore the intraday volatility but it is still very hard at times. I'm up over 36% in DRYS, 33% in STLD, and 20% in EXM. If we get another gap open tomorrow. I will sell at least a portion of the shares before the weekend.
I cut COIN this AM from the portfolio at 6.80 when it again failed to get any volume. I will keep it on the radar as it looks to be setting up if it can get back through recent highs of 7.20ish on good volume.
APWR finally got going today but still lacked volume. I'm going to give this one a little room to run but will probably flip some shares if volume doesn't pick up.
Most stocks out there look like they need some consolidation to support further moves higher. However, I commonly find that these bear market rallies last longer than you think due to overzealous shorts and the fear of being left behind. So I will continue to ride this wave a little longer but will closely monitoring. The downward pressure in these stocks has been on light volume the last couple days. Once this changes I will be quick to lock in the gains.
JAX
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