Dow: -13.83…
Nasdaq: +21.67… S&P: +5.15…
Most sectors finished Monday in negative territory — eight of eleven to be exact — but losses were modest for the most part, and the three top-performing groups — financials, technology, and healthcare — just so happen to be heavily-weighted, comprising over 50% of the broader market combined.
Its boring out there and it will probably get worse as we head into August. There are some poppers though.
Today, portfolio position RETA (1/3 remaining), exploded for 65%. It tagged 78 at the highs today which printed a double for us since our entry on July 12 at 39. It printed about 13X normal daily volume. Please note that I raised the stop to 67.
Our other notable popper was DOCU which popped 6.3% after misbehaving for the last couple of weeks. I’m still a believer. The technicals resetting and look like they want to turn up. Another day or two of flat to positive action would solve that.
Three names that I am watching ad like a lot are MRTX, ALDR & ITCI. I may add them soon. Let you know tomorrow.
See you in the morning.