A Nitty Way to Try to Profit

If you are a poker "nit," then it does not get much better if you can make money in the stock market by playing a stock with the ticker symbol, FOLD. 

In this case, FOLD is the symbol for the biotechnology firm, Amicus Therapeutics, Inc.. 

FOLD specializes in rare and orphan diseases. And despite a late-stage trial failure this morning, the stock is higher by nearly 4% as I write this. Indeed, when we see any sort of stock go higher on bad news it is typically a bullish sign of pent-up, underlying demand. 

Moreover, the FOLD daily chart, below, shows one of the cleanest long setups in the sector, as price bases tightly above all rising moving averages. Clearly, a break and hold back over $14 is going to be necessary to sustain a meaningful breakout. 

As for the market at-large, we have a sleep morning thus far. Small caps in the IWM ETF are trying to pick up the slack for the AAPL event hangover.