Nasdaq: +36.87… S&P: +11.67…
I was going to title this evening’s post with “So What Is the Event That Could Wreck This Market?”, but I buried it for another time. I was ready to let it rip, but we are all having too much fun right now and my “event” probably won’t become an issue for a month or two anyway. Hint, it involves a confluence of events across the pond that could shake things up, but better left for another day.
The market rocket ship continued today. XBI added almost 2%, and as you can see in the chart below, it came within 20 cents of the intraday high that was put in on Sept.23. This was also my first target, so either XBI rips right through resistance or it backs off here. We’ll know soon enough.
We have a 1/3 position remaining on EDIT and today it had quite a day as it ran +5.44 or 29%. The breakout occurred on about 12X normal volume.
Portfolio name ICPT also had a good day as it popped 5.90 or 4.6%. I didn’t see any news on this one, but it traded well. It is approaching 200-day moving average resistance around 135.50
LABU had a solid breakout +5.0%
I removed AERI from the p&L tonight. It gapped above my trigger price so I didn’t buy it. I know some of you took it early, in which case your up a few bucks.
See you in the morning.