The major averages ended the week on an upbeat note with the Dow Jones Industrial Average (+0.9%) in the lead. The Dow ended the week +2.1% while the S&P 500 (+0.9%) gained 2.7% for the week.
Equity indices climbed throughout Friday’s session with trading volume running well above average due to quadruple witching.
Meanwhile, the Dollar Index (97.89, -1.37), which was a point of focus throughout the week, fell 1.4% to narrow its March gain to 2.5%. Notably, the euro gained 1.3%
The biotech index (IBB) gained 5.7% for the week. This is still my subscriber’s most heavily weighted sector (for now). Getting frothy to say the least. Reversal Friday, we’ll see. It’s funny, in January I put a 365 target on IBB be year end. It tagged that level on Thursday. Amazing. I still think the SPX can tag 2250 this year.
Performance Update
My Premium Members had another phenomenal week. Trades this week included:
MYL +15.0%
QURE +16.2%
BLCM +18.9%
ESPR +52.0%
KITE +10.0%
We did this the prior week:
CTRP (short) +5.4%
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 +44.0%
Now is the time to become a subscriber. We are once again approaching highs for the market and earnings will start in a couple of weeks, so trading will be challenging.
If you think you can benefit from this type of analysis and performance, then become a Premium Member today!!!
This will be the last weekend to take advantage of the heavily discounted member fee.
Good luck.
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