Talk about movement. Down 30 handles on Thursday, up 17 handles Friday, then a 14 handle burial at the open, but we recover 13 handles at the close and basically land FLAT on the day. Good clean fun.
If you’re trading these moves, you are loving the action, if you are just sitting with positions, you really aren’t in such bad shape at all. The algo’s are sure having fun though.
NYSE short interest tagged high levels a couple of weeks ago and I see that some numbers show a little more bearishness.
Possible melt up cocktail? The bears are adorable, but they can never make anything stick. I’d ride that trend until it changes instead of trying to pick a top.
Oh, and biotech rules by the way.
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