Morning Market Look: Serepta Disappoints


With six weeks  to go, bets are being made on where we end up on December 31. Bloomberg reported the other day that someone bought $19 million worth of $SPX March calls with a strike price of 1950.. Others have made some big $VIX bets.  The $SPX  bet could have been a hedge against a very short portfolio. Maybe not, maybe it was just an aggressive directional bet. I suppose we’ll never know.

Biotech  (the $IBB names) have put in a little bounce, but this morning $SRPT is getting pulverized in the pre market off some discouraging FDA news. The stock is down about 45%.  Here is a pre-market shot. Widow maker.


When looking around the horn, some stocks that look good include $NAV, $AMBA, $KEY, $NXST, $YHOO and $DXJ. I own them all.

I still like names like $CLF and $WLT but hate gold and silver.

$AAPL trades heavy and they need to stop trying to beat Samsung in the courtroom, but on the playing field.

$YELP is starting to bear flag, and better reverse higher soon or it goes lower.  $TSLA caught a low volume dead act bounce yesterday.

If you want an old man stock that could be good for a deuce, look at $KO but only through the 40.25 level.

Come on by for a free trial here.

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