Morning Market Look; Shhh, Stocks Are Up


Futures are up nicely and global markets are green. The 10 year note is up 4 ticks at 2.70%.  Crude is slightly higher and gold is down again.

Things have gone on sale over the last week.. I particularly like biotech names. ($IBB) The move isn’t over in this sector, as they are in a massive secular bull move. Too much cash is growing hair in the coffers of big bio which will lead top more acquisitions. Too many diseases are in the process of being cured.

$IBB has dropped $20 over the last couple of days. Funds see weakness and they push the ” risk off  “button. They step on each others necks to get liquid, knowing that they will probably be stepping on each others necks a week later to get long again. It’s the way of the market.

You can be long $IBB which will get you a seat at the table. If you like individual names check out: $CELG $BIIB $AEGR $CLDX . I like them all.

Grab a free trial here and good luck trading.

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