Still on the Prowl

Despite the sleepy market action today, or perhaps because of it, bulls are still far from feeling threatened in terms of bears succeeding in rolling this tape back over. Simply put, the old axion about not shorting dull markets has generally survived the test of time on Wall Street for good reasons. 

Furthermore, the small cap outperformance seen in the IWM ETF all day long is sure to galvanize some of the more aggressive bulls looking to force the issue here. 

True, we have some significant earnings coming up this week, with the likes of RNG VRNS tonight in software, then SHOP TWLO tomorrow, among many others. 

But as long as we see benign broad market action without violent rejection from the assorted 200-day moving averages on the indices, coupled with names I have been stalking for a while now, like Wingstop, I will still shoot my shot when it presents itself. I have a $65 protective stop-loss on a WING long here, as the fast-casual dining play offers impressive growth prospects, a massive base, and a healthy amount of shorts to squeeze above $70.