It was an otherwise strong week, but profit-taking and increased volatility continued into the weekend.

The Volatility Index (VIX) is on the move.

Semis Take a Breather

The VanEck Vectors Semiconductor ETF (SMH) took a breather on Friday, but it could be their best performance ever.

Buy Dips Fever

Investors will keep buying the dip, but at this stage, caution is key. Remember my word of the year “Nimble.”

Play the game, but don’t drink the Kool-Aid.

Beyond those super-hot stocks, there are intriguing stocks, but I must admit we are bending the rules a bit at this stage of the game.

We are in the market and want to maximize returns while acknowledging risks.

Some ideas are only suitable for trading at this stage of the game. There are buy-and-hold ideas, but even there, we are opting for strong gains over shorter periods than usual.  

The big economic release is tomorrow; meanwhile, several intriguing names are posting financial results this week.                                                         

Today’s Session

Here it comes – the spike in volatility begins.

Pre-open trading in hot momentum names like NVDA has been all over the place.

• High $974
• Low $865

The Momentum Index saw a sharp pullback on Friday and there is a huge gap looming at $174.

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