Almost everyone can see the social trend of weight and weight control. NutriSystems is up 33% today (chart), and is a ten-bagger just this year with a 52-week low of under 7. It is difficult to buy after a stock has had this kind of run. However, there is no chance I would want to short this kind of momentum.
Elsewhere, earnings from US Steel X, and Steel Dynamics STTX depress the sector. I am tempted to add to my position in Quanex NX as it dips to support below 45. No need to do so, so soon. Patience and eroding premiums are the friend of the option writer.
Pop-pop fizz-fizz seems common. PGR Progressive popped up on a 4-1 split announcement, but has come fizzled. Many other stocks that popped have also fizzled. It seems like the exception is stocks that can keep running. The pullback is often a good time to get in.
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