Anyone who doesn’t believe that this market is joined at the hip with the Fed is on a steady diet of mescaline and Mexican quaaludes. The world just stops…and we watch and wait for a possible change in verbiage, usually just one word. Greenspan, Bernanke and Yellen. Same play, different players. It’s a chess game and its a lot of fun. Day traders dont care about today, they come into the day with cash and will play the move, up or down. Investors probably care less and swing traders probably care the most.
The best setups from my perch continues to be in the biotech sector, energy still looks to find a tradeable bottom and although financials have had a little bounce, I still don’t love the group. Retirees that watch those “buy gold now” commercials and went deep in January, are crying tears of terror and sorrow now.
Right now the market continues to give back Monday’s bullish move. If Yellen is even slightly dovish today I would expect a massive rally. We shall see. Good luck out there.
Oh, and $AAPL goes into the Dow later this week.
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ACAD +18%, TGTX +17%, FPRX +80%, TASR +20%, ISIS +18%, JUNO +44%, KITE +65%, DRNA +31%, BLUE +19.2
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ZIOP +33%
MYL +6.2%
TSLA (short) +6.4%
CLDN +46%
JOY (short) +10.3%
AA (short) +6.9%
ERY (short energy etf) +7.4%
FCX (short) +5.0%
ESPR +30.00 or 44.0%
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