Biotech New All Time Highs


U.S. stocks rose Tuesday, pushing the Dow back above 18,000 for the first time in three weeks.

The day extended the rally in stocks to four sessions. With Tuesday’s gains, the S&P  is up 2.4% and the Dow is up 1.3% for the year.

With Greece and China in the rear view mirror (for now?) we now focus on earnings.  The good news is that the bar is so low this quarter (expected to be down over 4%), that it will be almost impossible to disappoint on the reports. Of course some will.

I took a partial profit on TNA & UPRO today and we saw good action in all our stocks.

All the moving averages are now back over their respective 50 day moving averages.

Biotech continues to impress and closed at fresh new all time highs today.

The market may need a little rest here, so maybe some sideways action would be constructive.  Individual stocks will still play higher.

See you in the morning.


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