One Life: Let's Get Together and Feel Alright

Simply put, as a bull market matures, goofy things tend to happen. Headlines, earnings, and general news flow which seemingly ought to derail the bull actually empowers it. And strong, winning sectors like biotech and healthcare keep plowing ahead as many investors deem them too risky to buy "at these levels."

Of course, I am not mocking the skepticism as it is entirely rooted in logic, and sound logic at that--But that's just it: In order to arrive at the elusive bull market top we must first see the bull run so far and get so far out of line that there are simply not many buyers left. Needless to say, when we look at the market through that prism it remains an arduous task to call a major bull market top, just yet. Case in point: We shall see if the AAPL headlines can derail the bull, as a corollary to the CoronaVirus headlines in general. But, then again, look how strong names like SPCE and TSLA are, for example, totally ignoring the seemingly bearish general news. 

In the meantime, we could easily see the healthcare/biotech names continue to thrive as a main bull market leader of late. Within that sector, some recent IPOs of note seem ripe to get hot money attention. 

One such name is the health clinic chain, One Medical, trading under the ticker symbol ONEM as 1Life Healthcare, Inc.. 1Life Healthcare, which operates 77 membership-based health clinics under the One Medical brand, IPO'd just three weeks ago. The firm has some strong backers, including GOOGL, and would figure to be at the forefront of healthcare reform across the country in terms of new and innovative business models. 

Technically, the IPO dipped after an initial run-up as seen on the daily chart, below. If you believe that bios and healthcare still have more to run with the broad market bull, as well, then names like ONEM are exactly the sort which can make goofy upside moves in an ongoing and doubted bull market.