We are starting the morning with the futures up 150 points; some mean reversion is kicking in. After eight down days in a row for the Nasdaq, a complete meltdown in the Russell 2000, a bounce is to be expected and it’s natural. This dead cat bounce by no means says that we are out the woods, but even in the worse markets, the market will go up AND down not up or down.
RUN, MKTX, SJM, APIC, are some of the stocks that I will be watching for long trades today, depending how we settle down after the open.
You can also rest assure that people will gravitate to some of (ex)-leaders that have been beaten up, like FB, AMZN, GOOGL, PANW.