When in Doubt, There is Always Steak

The market action into the New York lunch hour continues to impress, with everything from Goldman and financials to Apple regrouping after looking wobbly yesterday at the closing bell. Still, some notable laggards stick out, which a few of our Members have noted, including FIT KSS LNKD SHAK TSLA TWTR, among others. 

But with biotech and financials snapping back hard, as well as safety trades like gold, bonds, and the Yen unwinding, it is tough to stand in front of this rally with heavy shorts on, at least for now. The S&P may very well have a date with its 200-day simple moving average lurking above 2000. 

In the meantime, we have our eyes on some of the resurgent restaurants. DFRG is enjoying a great day after earnings, and TXRH is bull flagging after its own earnings spike up last week. We are actively scouting for quick opportunities like these this afternoon.