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While many are waiting for the main U.S. stock indexes to bounce, so they can short them, there are industries that continue to shine on the long side. Marijuana stocks have been on absolute fire lately. Most of them barely budged during the correction last week, and today we saw some impressive moves in CGC, MJ, CRON, and TLRY.
Another sector that has been going against the overall downtrend is gold. Last week we saw quite a few gold miners breaking above their 50-day moving average. Gold and gold miners have been irrelevant for years. It will be interesting if that changes. Some industries are like fashion in many aspects – they come in and out of favor in a cyclical manner.
Other areas of relative strength that we are seeing are in the retail space: WING, AZO, ULTA, JWN, etc.
Howard also talks about the recent acquisition of his biggest position – Sendgrid (SEND).
Don’t forget to check out my latest book: Swing Trading with Options – How to trade big trends for big returns.
