We are moving from oversold to overbought with frightening speed. The Russell 2000 rocketed higher with a 1.6% gain to extreme overbought status once again. Afte four days of minimal declines the index has added nearly 80 points in only four days. This cannot continue.
Despite all the indexes finishing positive today, there was some choppy trading and with the markets up so big for the week, we could see some profit taking on Friday. I scanned over 300 small cap stocks and the ones we would like to play are up obscene amounts and the ones with no gains for the week we do not want to play. I am passing on adding a new play tonight and maybe after some profit taking on Friday, there will be some new candidates.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays