The Last Gasp of a Common Theme This Autumn

Small cap and biotechnology issues are outperforming again today, as the holiday drift appears to be setting in. Throughout this autumn, we have seen intervals where those groups have outperformed. However, it is worth remembering that the IWM and IBB XBI biotech ETFs are all trading well below their 200-day moving averages. So, we are not quite out of the woods, just yet. 

Individual names like MNST also continue to push higher, while beaten-down stocks DDD HAIN are enjoying holiday oversold bounces. 

We took partial profits in a JUNO long earlier, and overall remain tactical across the board in lieu of forcing in a rigid thesis to a market largely drifting. 

Commodities also fall into the same boat, as USO is churning at recent lows, while UNG is still having issues at $9.15 above. 

I will discuss those topics and more in my Midday Video for Members, filming now.