I'm Patiently Building Positions in These Stocks Amid Market's Chaos
This is a very tough market environment, so acting carefully and with purpose are critical.
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Stocks Slide For Second Day In Row, Closing Down
Market action is mixed on Wednesday with breadth running only 44% positive. Strength in the Magnificent Seven (MAGS) and large-cap technology, driven by Oracle's (ORCL) strong earnings, is helping the indexes hold up. The Nasdaq 100 (QQQ) is slightly positive while the Dow Jones is lagging, due mainly to weakness in Goldman Sachs (GS) .
Oil prices are edging higher again, and that is the dominant issue out there. The energy market's problem is not going to be fully solved, even if a Middle East ceasefire were announced today. Supply chain disruptions from misplaced ships, canceled insurance, and slowed output in Saudi Arabia, Iraq, and the UAE will take months to unwind. Strategic reserve releases are being described by analysts as a minimal offset to the scale of the ongoing disruption. The physical damage to the supply chain is the issue, not just the geopolitical risk premium and that takes time to resolve.
Adding to the oil uncertainty is the simple question of how long the war lasts. Estimates from analysts and military experts range from a couple of weeks to several months. The longer the conflict continues the greater the cumulative pressure on energy prices and the broader economy. Until there is genuine clarity on the timeline, the market is likely to remain very unsettled and difficult.
Related: Oracle Beats, With Solid Numbers. But I'm Not Sold
What I Am Doing
As I have been discussing, the best course of action is to stay patient and avoid making any large moves. What that patience looks like in practice is not simply sitting on hands. I am doing substantial research and taking small positions in stocks that have technical support and interesting catalysts on the horizon. Currently it is more work for less reward than a normal market environment, but that is the right trade-off given the conditions.
Two names I am adding illustrate the approach.
ImmunityBio
ImmunityBio (IBRX) is a commercial-stage immunotherapy company built around a single core idea: activating the body's own immune system to fight cancer rather than relying on traditional chemotherapy. The company's lead product, Anktiva, is already Food and Drug Administration-approved in combination with BCG for bladder cancer patients whose disease has stopped responding to BCG therapy. That approval has since expanded to the U.K., Saudi Arabia, and received conditional authorization in the European Union, covering 33 countries in total.
Beyond bladder cancer, the company is pursuing Anktiva in lung cancer, glioblastoma, and other solid tumors, and is building a CAR-NK cell therapy platform designed as an off-the-shelf treatment. Founder Patrick Soon-Shiong describes the long-term vision as a worldwide bank of natural killer cells manufactured and stored at cancer centers globally, eventually replacing chemotherapy as a standard of care.
The company is generating meaningful revenue. Anktiva produced $113 million in net product revenue in 2025, up roughly 700% year over year. It is not yet profitable and burns cash at a meaningful rate, but it has crossed the line from pure story stock to commercial-stage operation. That distinction matters.
What I like here is the pullback on the chart to the $7.50 to $8 area. The company is awaiting word on whether a recent FDA resubmission will be accepted. If it is, that will likely be a meaningful positive catalyst. There is considerably more going on here beyond that single event, and I am taking a small position while doing further work on it.
TeraWulf
I have discussed TeraWulf (WULF) several times and its relationship with Alphabet (GOOGL) . Despite the uncertainty in the AI sector, the core story remains intact. The Fly.com reported that Keefe Bruyette lowered its price target today to $23 from $24 but kept an "Outperform" rating. The analyst believes the 23% pullback from the 52-week high on Feb. 25 presents a compelling buying opportunity and argues that investors are either over-discounting current lease value or taking an overly conservative view of the company's 2026 lease signings.
I already carry a fairly sizable position but want to add as the stock holds its 50-day simple moving average around $14.50. That level is the line worth watching.
These two stocks reflect how I am approaching this difficult market. Small positions, solid catalysts, and defined technical levels. Not fighting the tape but using the weakness to do some careful positioning for when conditions improve.
At the time of publication, DePorre was long IBRX, WULF
