Slow Summer Action-Reata Pharmaceuticals Explodes

Dow: -13.83…
Nasdaq: +21.67… S&P: +5.15…

Most sectors finished Monday in negative territory — eight of eleven to be exact — but losses were modest for the most part, and the three top-performing groups — financials, technology, and healthcare — just so happen to be heavily-weighted, comprising over 50% of the broader market combined.

Its boring out there and it will probably get worse as we head into August. There are some poppers though.

Today, portfolio position RETA (1/3 remaining),  exploded for 65%. It tagged 78 at the highs today which printed a double for us since our entry on July 12 at 39.  It printed about 13X normal daily volume.  Please note that I raised the stop to 67.

Our other notable popper was DOCU which popped 6.3% after misbehaving for the last couple of weeks.  I’m still a believer.  The technicals resetting and look like they want to turn up. Another day or two of flat to positive action would solve that.

Three names that I am watching ad like a lot are MRTX, ALDR & ITCI. I may add them soon.  Let you know tomorrow.

See you in the morning.


Previous Post
Tariffs and NATO, But Not Too Bad
Next Post
New Highs For the Nazzy

Recent Articles