MarketSurge powers the charts in this video.
The US Dollar and interest rates continue to decline as the market expects the Fed to begin a series of cuts in September. The best-performing groups for the last week also reflect those anticipations – homebuilders, regional banks, biotech, REITs, Bitcoin, and small caps in general. In the meantime, tech mega-caps are showing relative weakness. This doesn’t mean they are short candidates. It means there are better opportunities elsewhere.
I screened for stocks priced above $7 with an average daily volume of 500k shares that gained at least 10% last week. 84 stocks met the criteria. Number one was Redfin (RDFN) which provides real estate information. The list is quite diverse – highly-shorted solar stocks like NOVA; mortgage companies like RKT; biotech like TNGX, VKTX, and TERN; homebuilders like TOL BLDR, recent IPOs like TEM, earnings breakouts like CAVA and ZM, regional banks – DPST, etc. There is a lot to choose from.
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