Life Isn't Always Bear

There will be a time in the future when bears will be able to look back on this time period and laugh (at least this bears who remained liquid will be able to), what with TSLA squeezing into the sky on a daily basis and various biotech and software names surging one after the next. 

But that time has not yet arrived. 

For now, we have another resilient market on our hands, with the Dow recovering virtually all of Friday's losses. 

True, the major indices may still be rangebound. However, that was never really our chief concern. Instead, as we have been noting both here and with Members, we needed to see actual signs of a stock picker's market, whereby a plethora of individual names were permitted to break higher from quality chart bases even if the indices flopped around sideways during earning season and during the seasonally rough month of February. 

As for fresh ideas and where should deploy fresh capital, we have a few ideas and trades on in that regard. One angle we are exploring is a quality biotech like GBT after its recent dip. Note that relatively mild sell volume on the pullback as the chart stayed fairly orderly. GBT remains a buyout target in a hot sector, and this recent dip has the look and feel of a standard retrace to the scene of its primary breakout.