Yesterday's Action

Once again the markets were able to move only a small amount. There is clearly some resistance about 30 Dow points above where we are. We will see over the next few days if that resistance can be overcome.

Biopharma stocks continue to show up on my trading filters. We bought some shares of SQNM yesterday based on its action over the past few days. We were rewarded with a quick, but small profit. The stock is up a small amount in the premarket today, so we will continue to hold it.

A word about the filters I use. Fidelity's Active Trader Pro platform will search for stocks that met a variety of criteria. Since the market's primary trend right now is up, I only look at the bullish filters. Some of the filters I am using include:

1) 52 Week Highs
2) Top $ Gainers
3) Top % Gainers
4) Volume Movers
5) Moving Average Crossover Upside
6) Bullish Morning Momentum