Tech stocks are “en fuego.”

Over the past few weeks, we’ve seen some incredible moves in artificial intelligence (AI) stocks.

SanDisk Corp. (SNDK) has soared 155% over the past six weeks.

Micron Technology (MU) has surged 151% over the same stretch.

And Everspin Technologies (MRAM), a smaller memory stock, has soared 281% since reporting earnings three weeks ago. 

And that’s just to name a few. I could go on and on with examples, but you get my point. 

As I write today, this head-spinning tech rally continues to unfold. It’s getting a bit nuts. 

And look, I’m as bullish on tech stocks and AI as the next person. But I wouldn’t recommend chasing funds like the Technology ETF (XLK) or the Semiconductor ETF (SMH) here. They’re too extended. The easy money has already been made.

This doesn’t mean that AI stocks are about to put in a local top. But let’s be real. Your average AI stock is trading well above its short-term moving averages—and forget about long-term moving averages. 

The key word is “average.” There are still plenty of individual names that appear to be just getting going. 

At this stage, you have to be a stock picker. You can’t just blindly buy tech stocks and hope for the best. (More on that in a moment.)

So, what else is there to trade?

One area that I’m watching closely is copper stocks. 

Today, the price of copper broke out to a new all-time high. It’s now quietly up 15% over the past two weeks. 

The Copper Mining Stock ETF (COPX) looks ready to play catch-up. As we can see below, COPX has been trading in a base for much of this year. 

A breakout of this pattern would ignite a new leg up in the group. Buying copper stocks now with some of your AI stock profits wouldn’t be the worst idea. 

Setups like the one in copper are starting to pop up all over the place, which is why I’m calling this a stock picker’s market.

Some groups are overheated while others are just beginning to wake up. The key is knowing which stocks are setting up for their next move—and which ones to avoid.

That’s why I’m hosting a live event on Monday called ChartMania. Readers who join can send me stocks they’re watching, and I’ll chart them live on air.

I’ll break down which names look ready to run, which ones I’d avoid, and how I’d trade them in today’s market. It’s basically your chance to get my take on any stock you want.

To join the event, visit the signup page here.

Justin Spittler Chief Trader, RiskHedge