It's Hump Day folks and the markets are absolutely ripping higher! I can honestly say I would not want to be among those trying to trade these markets on a day-to-day basis, because it seems anything is possibly from one day to the next lately.
For all of those traders out there though who continue to pick their spots sparingly with a less is more mentality, I'm sure they continue to do pretty well. Those who try and do anything in between have probably had a tough time of it.
Reality is if you buy the dips and sell the rips in a bull market, and then sell the rips and buy the dips in a bear market, you're probably going to be better than most, because that's the mentality/strategy of some of the best traders on the planet.
So what's in store for the markets now? Good question. We've only got a few more days left before the heavy weights come back next week, and Summer comes to an end. Normally, that's the time of year that can really set the tone for the rest of the year.
Although October seems to be the pivotal month most investors tend to think to be of significance importance, it's actually September that often sets the tone for things to come.
I'm pretty much assuming if the S&P 500 can have another good day like it had yesterday and so far today, the major averages could be setting themselves up for an excellent September. If for some reason the markets fall apart at any point today or tomorrow, that's probably going to give the bears an awful lot of fuel for them to work with heading into next month.
We've had a couple of excellent moves with a few of our featured stocks in the last several days, so we're hoping many of you have benefited from our early calls on Senseonics Holdings, Inc. (SENS) and/or Abeona Therapeutics Inc. (ABEO).
Honesty, it's been the entire biotech space that has heated up dramatically in recent weeks, which was part of the reasons we brought SENS and ABEO both to your attention. We saw strength in biotech developing well over a month ago, so it's been profitable for everyone who has jumped on the biotech train lately.
As a matter of fact, I can't even find too many individual biotech ideas lately that haven't done well, so SENS and ABEO have been no exception. But, the have performed a lot better than many other small biotech names out there. Just be sure to take at least some profits while they're there, because we all know what biotech stocks are capable of doing from one week to the next.
It's really going to be an interesting next couple of days for stocks in general, because if the major averages start to take flight again this week, and well into next week, I'm pretty sure the ensuing move higher could be a rally like we haven't seen in a very long time.
Let's hope that ends up being the case, but more importantly let's hope it's the entire small cap space that leads the move higher.