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The Longer the Action Stays Positive, the More FOMO It Creates

This is good action for rebuilding some very badly broken charts.
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The market started slowly this morning, but the buying is picking up steadily. The longer the action stays positive, the more FOMO (Fear of Missing Out) it creates. Market participants are obviously nervous after the high level of volatility last week, but when stocks are slow and steady to the upside, there is an opportunity to build confidence and slowly put money to work.

Breadth is running around even, but the most important stat is that there are only 60 new 12-month lows. That number was over 2000 at one point last week, so that is a good sign that many stocks have seen the lows.

I'm positioned with lots of cash and some core positions and am deploying some cash as things develop. I've added to ETFs AdvisorShares Pure US Cannabis ETF (MSOS) and Direxion Daily S&P Biotech Bull 3X Shares (LABU) , and have my eye on individual stocks like Magnachip Semiconductor (MX) , urban-gro (UGRO) , Ondas (ONDS) , Enthusiast Gaming (EGLX) , Agrify (AGFY) .

This is good action for rebuilding some very badly broken charts. It just takes some time.

At the time of publication, James "Rev Shark" DePorre was Long MSOS, LABU, MX, UGRO, ONDS, EGLX, AGFY.