Is it Really That Bold of a Strategy, After All?

On some level, it is what it is.

In light of last Friday's violent, small cap-led selloff, coupled with a seemingly scary flight to Treasuries, equities have largely coasted this week into the official end of the first quarter of trading. 

In the event bears have missed another golden opportunity, it is time to put our nose to the grindstone and prepare ourselves in case bulls kick off April with a boom.

True, small caps are not out of the woods technically. However, the XBI (ETF for small cap bios and some healthcare names) is thriving today. 

One name of interest is Audentes Therapeutics, Inc. (Nasdaq: BOLD), a gene therapy play for rare muscle diseases. Although this market may seem too risky for these types of plays, with last week's selloff fresh in our minds, the strength of the BOLD daily chart, below, speaks for itself. 

Note the high and tight flagging action with resumption higher today. 

Put another way, if this week was the best bears could muster, maybe going after a name like BOLD really isn't that bold of a strategy, Cotton.