One To Watch

Sad…but now so true Dow: +32.60… Nasdaq: -5.32… S&P: -2.56… Both XBI and IBB have struggled at resistance the last few days and both were down 1 and 2% today.  Some individual stocks in the bio patch were down more though, as folks took some profits.  A good example would be EDIT which dropped 13%….

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A Rest Day

Dow: +7.91… Nasdaq: -4.54… S&P: -2.03… The market took a needed rest today.  Biotech opened very strong, opened above some key resistance, then faded.  This happens a lot at a breakout spot. You get the breakout, then it sells off. Both IBB and XBI recovered off their lows though, so some dip buyers stepped up.  Some…

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Insatiable Bull

Dow: +107.45… Nasdaq: +36.87… S&P: +11.67… I was going to title this evening’s post with “So What Is the Event That Could Wreck This Market?”, but I buried it for another time. I was ready to let it rip, but we are all having too much fun right now and my “event” probably won’t become an…

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Patience Paid, Biotech Pops

In looking at the entry dates some of our biotech holdings, we were a little early, but patience has paid, and the street now comes aggressively calling for these names. Better to be early than late, the signs were all there, it just took a while. Today the XBI broke out some more and it looks like…

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Steel Breaks Out

Dow: +142.79… Nasdaq: +29.83… S&P: +12.15… Another day, another record close for the major averages. The key indices backed away from their best levels during afternoon action, but still kept the bulk of their gains. Trump’s upcoming tax-related announcement was yet again the driver of today’s bullish sentiment. Investors have pushed the stock market higher…

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Sunday Thoughts

I will have video out tomorrow.  We have a pretty full dance card right now on the P&L, but that doesn’t mean I’m not looking for more set-ups. Football is over, I can’t watch basketball, golf is OK to watch and the dulcet tone of Jim Nantz’s voice isn’t bad if you want to catch a…

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A Great Day For the Good Guys

Dow: +118.06… Nasdaq: +32.73… S&P: +13.20… The market nipped higher again today, and yes, there was some great action out there.  Rather than go over each trade, please check the P&L to get caught up.  I also raised some stops, so please stay current if you are playing along at home. It was all about…

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Good Action-2 New Stocks and a Trigger

The market was flattish today but there was some decent action in bio-land. Even though Trump said last night that “my new big thing is pharma”, (oh joy), stocks handled it well. Later in the trading day today, a Congressman announced his meeting with Trump next week regarding drug pricing. You would think these two comments would…

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