Is the Comey Correction Under Way?

Dow: -311.43… Nasdaq: -133.69… S&P: -35.57… Well, today was a delight.  The market tanked on the yet unseen and unproven “Comey Memo”.  The kids in the media also started a really solid Trump Impeachment story, so that made the rounds. For investors, the concern at hand is that an investigation or more “breaking news” stories could derail…

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The World Is Ending

Dow: -2.19… Nasdaq: +20.20… S&P: -1.65… Washington will mess this all up.  If you want your head to explode like a papaya in a microwave, then look no further than twitter (or the evening news), so you can watch our country basically collapse under the weight of itself. The hatred, vitriol, and divisiveness are like nothing I…

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Bout Time

Dow: -112.58… Nasdaq: -42.81… S&P: -14.04… The market saw the first downtick since the Age of Pericles today and it was long overdue. We could see little more pressure, we’ll just have to see.  This is a very stubborn bull. Personally, for now, I think dips will be shallow and buyable. The financials led things…

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A New Month Begins

  Dow: -25.20… Nasdaq: -36.46… S&P: -6.11… Investors took some money off the table after a strong month and ahead of President Trump’s first prime-time address to Congress, which is scheduled for tonight at 9:00 pm ET. The Nasdaq’s (-0.6%) slip was a bit more substantial. Meanwhile, the Russell 2000 finished with a sizable loss…

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Biotech Is On the Launchpad

We all have our demons, things that keep us up at night. LABU has been my demon the last few days and has prevented quality REM sleep and has given me night terrors. Although we made great money, the chart was still fabulous. What I should have done was to have lowered my stop so…

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Market Resilient After Some Headwinds

Dow: +34.72… Nasdaq: -25.12… S&P: +0.99… Declines in biotechnology shares dragged down the Nasdaq, pressuring an index that has soared so far this year.  The Nazzy fell 0.4%, but is up more than 8% in 2017, outperforming both the Dow and the S&P 500, which are up more than 5%. The tech-heavy index has closed…

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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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