Baby Biotech

We’ve seen the iShares Biotech Index $IBB have quite a run lately. The big names like $AMGN, $CELG, $GILD and others in the space have had some beautiful breakouts. Most, if not all of those names are still technically constructive and just appear to be taking a breather. What usually happens with these scenarios is […]

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The Wrap 1/30/12

{+++}They took the market down hard at the open and then rallied it higher. The morning gap down gave me an opportunity to cover some shorts and when the bears couldn’t kill it, the market held some support, then  rallied as the dollar weakened. I covered the majority of the shorts today with the exception […]

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Sunday Set Ups

{+++} I have some technical difficulties tonight with video, so I am putting the new watch list ideas here. Sorry for the inconvenience. The S&P had a sideways week which could just be  a pause before a leg higher, or  a sign of short term exhaustion. Many stocks appear overextended and although they could lift […]

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The Wrap 1/26/12

{+++} I was going to post a chart or two of the S&P and the Nazzy tonight, but chose not to because it really didn’t do all that much. We have rallied in a big way since the short term bottom at the end of November, roughly 160 S&P points and about 240 S&P points […]

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QE 2 1/2

{+++} It’s hard to fight the Fed. Today was a morphed form of QE3 in my opinion. Bernanke said that rates would probably stay low until the end of 2014. That’s a long time in market years. Whether Bernanke will be right in his prediction is yet to be seen, but the market loved the […]

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The Wrap 1/23/12

{+++} 18 of 22. That’s about how many up days the S&P has had in the last month or so. Good action for sure and the big question is when will it end? I thought it may be today, but it didn’t happen. Why am I cautious? Because logically nothing goes straight up and every […]

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Ready For Anything

“When you see a fork in the road, take it”-Yogi Bera So how will the market go this week? Will more silliness from Greece knock the underpinnings out of the tape? How about some home grown political uncertainty? The market was thinking Romney, now Newt is all the rage. The market hates uncertainty, especially of […]

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