Reaching the End of the Line

Although it is easy for bulls to cherry-pick the likes of OKTA TWLO or PLAN, the latter seen below on its updated daily chart (kudos to a few of our Members for calling those two out) as being clear evidence of quite a few growth stocks ignoring the stubborn market weakness, the reality is that one of these day bulls must aggressively wrestle back the broad market initiative from bears via a rip-roaring rally into the bell. 

As I write this, that does not yet seem to be in the cards. As a result, into the final thirty-minutes of today's session I am going to sell a few laggard longs I have been patiently holding but have yet to demonstrate the type of bounce I expect to see from strong stocks even in weak markets. That said, I will likely hold onto outperforming issues, like defense play AJRD. 

With respect to gold and her miners, today is the first day throughout this correction where it really feels like gold is acting the way it should in times of fear and wild uncertainty in terms of the geopolitical headlines and spectrum. KL is a true leader among the miners, but other, smaller miners may be worth a toe in the water into the weekend, too. 

Ultimately, the trade war headlines, weak crude, sinking rates, and flimsy broad market bounces render even the most enticing individual longs mostly impotent. That can change quickly, but the overall price action is forcing me to head into triage mode for now.