Two New Names

Biotech added another percent today but came off the highs towards the end of the day.  The move has been exceptional and the volume today was actually bigger than the last two days. This tells me that it wasn’t all buy side volume, as some players were taking some profits. I added one short and one long…

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It Doesn’t Get Much Better Than This

Dow: -57.11… Nasdaq: +45.92… S&P: -1.42… The Dow, S&P and Russell were all down today.  The Nasdaq was probably up because it was aided by biotech which ran like a scalded monkey.  The volume in XBI and IBB was huge. Biotech (XBI) ripped almost 5% today and you don’t see that a lot, as a…

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Biotech Rampage…..A Short and a Long

Today the stock market gave back nearly all of yesterday’s climb to new record highs.  Crude oil futures plagued the energy group, dropping as low as $42.95 per barrel, as concerns about excess supply, and a deteriorating technical picture, continued to weigh.  Apparently, we have an oil glut……….who knew? By the way, the FAANG stocks still look…

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More New Highs and a New Name

Dow: +144.71… Nasdaq: +87.25… S&P: +20.31… Wall Street kicked off the week on a positive note as the S&P  bucked its recent sideways trend and advanced to a new record close. The Dow also settled at a fresh all-time high while the tech-heavy Nasdaq exhibited relative strength as technology and biotechnology stocks outperformed. The three…

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Nasdaq Is the Problem

Friday was the most interesting day that we have had in quite a while.  It’s the kind of day that keeps you honest, it temporarily corrects your complacency and makes you sit up straight.  It felt like someone rang a bell and the selling began at a ferocious pace.  All the hedgies and institutions that have…

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Is the Reflation Trade Starting To Turn?

Dow: +8.84… Nasdaq: +24.38… S&P: +0.65… Copper, steel, and various metal and mining stocks have been in decline since they topped out back in the Jan. & Feb. time frame.  Have they bottomed and are they ready to turn higher again?  That’s the question.  If so, there will be gobs of money to make. I mention this because…

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Chop Ahead of Tomorrow’s Events

Dow: +37.46… Nasdaq: +22.32… S&P: +3.81… Equities have been relatively flat all week ahead of tomorrow’s full plate of events, which includes the UK general election, the latest policy decision from the ECB, and the testimony of former FBI Director James Comey. Keeping in line with the week’s sideways trend, equities opened Wednesday’s session slightly…

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New Name

Dow: -47.81… Nasdaq: -20.63… S&P: -6.77… The markets were pretty flat today.  I’m adding a new name tonight……. ESPR has been coiling nicely for about three months now while it has held support.  The technicals are turning up and the volume is approving.  Targets are 40-42 and higher.  If the stock breaks lateral support around 31 then…

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