A big congratulations to “elizamae” for correctly guessing the mystery chart from my last post.
As eliza noted, the chart is a quarterly view of the major biotech firm, Gilead.
Specifically, here is what eliza had to say:
I believe this is a quarterly chart of an old Rhino favorite, $GILD. Hard to argue with the parabolic move in biotechs of late…but these moves always come to an end sooner or later.
It would be extremely difficult for me to have confidence going long here…even less confidence going short…so I’d rather eat some popcorn and wait to see how it shakes out.
In addition, a tip of the hat to the estimable trend follower @JBoorman for also correctly guessing the chart on Twitter around the same time eliza did on the blog.
What do you think about Gilead and the biotechs here?
Thank you to everyone who played.
I will be back later with ideas for Monday.
But I already gave tight analysis in my latest Weekly Strategy Session published, earlier today. Check it out!
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I appreciate the tutorials and the nice charts. Thank you for all your help.
Thank you, Richard. Appreciate that.
I’d agree w/ @elizamae…hard to chase here but probably insane to short. More butter on that popcorn…
Chess, I can remember Rhino saying in March of 2013 “GILD is going to $100″… Looks like it’s gonna make it… I’m impressed!!
Great call
Any thoughts on AMGN?
Longer-term steep as GILD