Morning Market Look-Biogen Explodes
- Posted by UpsideTrader
- on November 22nd, 2013
The bulls came back yesterday after they realized taper talk is silly and stocks have to go up because the world is printing. Japan had a bullish breakout last week and the yen is starting to fall out of bed again (DXJ). China (FXI) still looks strong after its breakout on Monday.
The action was much better yesterday and the financials were strong+1.5% (XLF), which is always important. We are doing well in our FAS trade and I think the banks go much higher. The charts of $C, $BAC and others in the group look splendid.
Some market winners yesterday included: GOOG +11, NFLX +9, GMCR +8.67, BWLD +8.20, BIIB +6.27, AAPL +6.20
Some market losers yesterday included: ROSS : -7.50, LQDT-4,85, GME-3.74, TFM-6, VJET-5.50
The market continues to tag new highs and the “great rotation” out of bonds hasn’t even started yet. Who need that rotation when corporations are taking billions of dollars of their stock off the market on a monthly basis via buybacks. Who needs mom and pop for that matter? Actually retail will come back and the bond rotation will eventually happen. Imagine the firework then? I’m not a perma, I’m just calling the reality out.
Good luck today and have a great weekend.
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