It Doesn’t Get Much Better Than This

Dow: -57.11…
Nasdaq: +45.92… S&P: -1.42…

The Dow, S&P and Russell were all down today.  The Nasdaq was probably up because it was aided by biotech which ran like a scalded monkey.  The volume in XBI and IBB was huge.

Biotech (XBI) ripped almost 5% today and you don’t see that a lot, as a matter of fact, you have a better shot of finding Jimmy Hoffa under your bed.

It feels like the gilded age for biotech is back in full force again and the sector rotation cares nary a wit about anything but biotech.  That’s good because I really don’t care a whole helluva a lot about anything but biotech either.

Some of our winners today were: KITE +2.5%, AKAO +4.4%, XNCR +9.5%, ICPT +2.7%, 

ESPR exploded 20% on huge volume today alone.

I recommended BMRN yesterday at 92.50 and it closed today at 98.82 for  +7.0%.  Truly amazing action.

LABU was +14.1% today and we are now +40.0% in this trade.

Let’s not forget the short side, because it’s working too.

BURL dropped -4.50  or 4.8%. We are now positive by about 11 points on the balance that we are short.

ALGT was flat today but dropped a 4 spot yesterday.  YELP had a bad day yesterday, was about flat today, but could be on the cusp of a big drop lower..

URI also broke key resistance today and looks lower, so that’s good.

PCMI was down 5% today and broke that key support level that I have been waiting for.

See you in the morning.