06Feb3:45 pmEST
Sometimes it Rains
"Sometimes you win, sometimes you lose, sometimes it rains." - Bull Durham (1988)
I did not much trading today, instead opting to refine our list of the best performers in a notably sluggish tape.Small caps remain a downside concern, but we know bears have had major issues sustain any type of downside momentum in this market of late.
We have a few short ideas on watch, just in case the tide turns in this first full trading week of February. On the long side, some enticing precious and non-precious miners are worth stalking. When the little guys like silver miner AG are leading higher, for example, it can be a good gauge of risk appetite in the complex.
But, for now, I am looking to see whether buyers step in tomorrow to sustain some of the promising moves we saw in many equities on Friday. If bulls lose the initiative here, it sure seems like bears remain intent on punishing the small caps in the Russell 2000 Index.