13 Stocks on My Watch List as I Await Key Market Developments
These are the positions I'm monitoring for entry points and better charts to develop.
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The strength of Apple AAPL is covering up some of the market weakness Tuesday, but it is gloomy out there, with breadth running more than 2 to 1 negative and more new 12-month lows (190) than 12-month highs (100).
There aren’t any major headlines driving the selling, but concerns about inflation and higher bond yields are keeping buyers on the sidelines. The market is waiting to see what Fed Chair Jerome Powell says in his testimony before Congress, although it is unlikely that he is going to say anything very surprising. The Fed is waiting to see more data and isn’t expected to change policy for at least three or four months.
I’m primarily just monitoring positions and waiting for entry points and better charts to develop.
Here are some names that I am watching:
ACM Research ACMR. This stock has become extended after a very bullish report from Kerrisdale Capital. I’d like to add, but it needs some consolidation.
AST SpaceMobile ASTS. ASTS has made a parabolic move over the past two weeks. I’ve reduced it a little and am waiting for some consolidation before adding it.
ClearPoint Neuro CLPT. ClearPoint broke to a new high and now needs to consolidate. It trades very thinly.
Emergent BioSolutions EBS is pulling back to support at the 50-day simple moving average. I expect it to perk up in anticipation of earnings in early March.
Humacyte HUMA is floundering as it awaits news about initial sales. Buyers have no interest at this point.
iShares Bitcoin IBIT. Bitcoin has been in a trading range since the election and is showing no signs of renewed momentum.
Nebius Group (NBIS). NBIS took a hit on DeepSeek news but has recovered much better than other data center plays. I’ll be adding to this one as it tests highs.
Nvidia NVDA has bounced back to resistance at its 50-day simple moving average. I’m inclined to reduce and look for a lower entry in front of its earnings on February 26.
Palladyne AI (PDYN) is a robotic play that made a good move but is struggling in weak market conditions. I look for speculative traders to come back to this one when action improves.
Rocket Pharmaceuticals RCKT. The biotechnology sector is still very poor. This stock is drifting as it awaits some new flow.
Sensus Healthcare SRTS. SRTS had a good quarter, but management did not provide clear guidance, which triggered aggressive selling. In the longer term, I think it will do well, but it is dead money in the short term.
Uber Technologies UBER. UBER jumped on a Bill Ackman buy. I sold the position today as it filled the gap on the chart from November, and I will look for a new entry later.
Xeris Biopharma XERS. This is still one of my favorites. Management is presenting at two conferences, and earnings are due on March 6. I expect solid earnings and some news about an upcoming FDA filing for a new product.
I continue to look for new ideas, but currently, this market is not offering much of interest.
Please note that due to factors including low market capitalization and/or insufficient public float, we consider several of the names mentioned to be small-cap stocks. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.
At the time of publication, Rev Shark was long ACMR, ASTS, CLPT, EBS, HUMA, IBIT, NVDA, PDYN, RCKT, SRTS and XERS
