At this point I am almost exclusively keying off the biotechnology sector, using the IBB ETF, to determine whether this market “blows-off” higher. The ETF came within a few points of $300 today. And you get the sense that fund managers absolutely must have the biotechs on their books into year-end.
My only position now is a short UNP tester, as transports in their own right have been parabolic.
INTC is down big today, suspiciously.
But, overall, I am being my time in cash until I get a better pitch to swing at.
What are you trading into the final hour?
Keeping my UNTD. Still up a bit and think it may go higher.
No trading today. Try this on – biotechs just the beginning. Soon, dollar turns down and oil surges after the election; i.e. things look ok. Everybody is excited about cheaper input costs for manufacturers and retail is expected to go gangbusters into holiday season ‘cuz extra dinero in consumer pockets. Talk about unwarranted pessimism for economy increases. Ergo, the stage is set for a huge year end.
Not wed to any of this. I’m just searching for a thesis since I’ve been without for awhile.
Fork truck time. Plug
I’d only want a Chevy after that masterful performance by the Chevy guy at the World Series last night.
my favorite drums in any song
so what exactly is the pain trade? Long or Short?
Been higher