It was another brutal day last Friday, but it was intriguing to see several oil and fertilizer stocks pull back, even amid more analyst upgrades, while there was a vast amount of bottom-fishing.

I'm not sure if these ‘dogs will hunt,’ but we got some bark from private Equity (Ares Management Corp (ARES), Blackstone Inc. (BX), Apollo Global Management (APO), and software (Gartner Inc. (IT), and Fair Isaac (FICO)). Traders are positioning for oversold and overbought conditions.

All eyes remain on the Middle East, where the U.S. has the least direct economic vulnerability. Sure, crude oil is a global product, but much of the rise is pure manipulation under the guise of “geopolitical premium.”

Intriguing earnings calendar, but none matter more than Micron Technology (MU).

I’m still in the coiled spring camp, and I want investors to be ready to pounce. There will be trading opportunities in market niches that are completely written off, as well as longer-term opportunities in undervalued niches and stocks.