The market has been still fairly stagnant and I plan to be cautious going into this week. I feel like a bit of a broken record on this one as we have been ‘cautious’ for the past 2 months while the market has been slow. The nice thing about this condition is there isn’t much that’s over-extended. RSIs are generally low. However, momentum is hard to find in this market and it seems to be short lived.
This week, I’ve got my eye on KPTI – Karyopharm Therapeutics, Inc. It had a nice drop back in February but it has since partially recovered from that very nicely. I think that it will continue to recover as it is nowhere near the levels from before the drop and it seems to be tracking the moving average lines very nicely. My plan is to buy half my position early today and see how things go. I may buy the other half later in the day or I may hold off until tomorrow.