In Like a Lion; Or Kruger National Park for That Matter

"March comes in like a lion and goes out like a lamb." - Old Weather Lore

Consistent with this market's recent history, the sloppy and seemingly ominous close to the month of February for equities has led to another apparent and vicious squeeze higher to kick off the new month. There are some near-term hurdles to decisively clear in order to cement that thesis, such as the $320 level now holding as support on the QQQ ETF. But bears certainly seem to be rather punch-drunk at this point, and I cannot blame them. Personally, I feel fortunate to walk into today with no short exposure on, as tempted as I was to reinitiate some bearish bets into the sloppy action late-last week. 

Going forward, if bulls can maintain the lion's share of today's rally and seek to build on it into Biden's first State of the Union amid the Stimulus Bill passage and disbursement of funds to Americans and infrastructure projects, I have several plays in mind. 

The weakness we saw last week, for example, may indeed have been the final shakeout in the IGF infrastructure ETF before a March rally into the "news"of the SOTU and Stimulus.

With this in mind, Macquarie Infrastructure Corp. (MIC, below on its daily chart) is one of several long ideas in the IGF to watch here for rally ahead of these events early on this month. 

Elsewhere, sports betting leaders DKNG PENN remain red hot, which has me eyeing sympathy pays like CRSR GAN, too.