Nice Start To The Week

We saw a nice bounce in the market today. The Fed meets on Wednesday and some shorts covered in front of that event. We also saw very light volume. so movements get exaggerated.

One group that stood out again was biotech. The IBB moved +$8.66 today or 2.5%. XBI was +3.3%.

Crude oil pretty much went out on the lows and closed below $44.

Our portfolio did well today: SBIO +1.3% made new all time highs, CELG +2.5%, BLUE +1.9% (new highs), JUNO +3.00 +6.0%, MYL +2.5%, BMY +2.7%, BLCM +7.2%, ESPR +3.6%.

I added DISCA during market hours as a new long. As you can see in the chart below its forming a bullish flag, so I’m anticipating a breakout on this one.