Bulls now chasing commodities

Here are the market observations for today

1. This is what S&P 500 has done in September and it’s causing nervousness in the market.
2. The only good news: there is no momentum on the downside and speculation in select stocks appears to be strong.
3. The real concern: decelerating growth globally and sticky inflation. Economic data from China continues to be bad.
4. Natural Gas prices are at 2014 highs. Tellurian is a company that builds infrastructure to move natural gas from the US to other export markets. One can hope that this move will stick.
5. There is bullishness in Oil and Gas stocks. But if you look at the overall picture, it’s still trading in circles. This is RIG over the last 10 days.
6. The best way to play the bullishness in Oil and Gas stocks – Buy XOP ETF
7. Has GEVO found support? It’s up 5% today
8. CLF is up 4.5% today and it has bounced from 100 dma. The stock is a must buy candidate. I recommended it yesterday.
9. Uranium stocks are making a move and the momentum seems to be with UROY. I recommended it yesterday.
10. Small-cap Index also has seen selling pressure this month. Here’s the small-cap Index IWM this month. 
11. The stock to watch for the sudden surge: SmileDirect Club 
12. The meme stock everyone seems to be watching: CIDM. A close above 2.25 today will trigger a breakout move in the stock.
13. The big data play PLTR seems to have done reasonably well despite the turbulent market. 
14. Fundamentally, Himax is a solid company and it seems like it will find support at $10. Here’s the chart
15. The ability to sell a position instantaneously is your most powerful strategic tool. It is your insurance against substantial losses

Do let me know how I can make this section more useful.

Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purposes. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers