This is exactly what we want to see: weakness in biotech, strength in real companies. Even within healthcare, we are seeing lift in hospital stocks, like LPNT and HCA. This is good.
Oil stocks are running again, which is wholly retarded; but I’ll take it.
For the day I am only up 0.2%, mostly because JNS, BABA, MUSA and LVLT are down–alongside my biotech holdings. My little gasoline play, TA, is running like an Indian spirit again and GRUB continues to make new highs. Admittedly, with oil stocks up here and biotech down, this is a difficult momo tape to play. It is my opinion that both sectors should be avoided, in the interim, for other sectors. Let’s see how it plays out this week.
All I know is that while you toil away at work sharpening pencils for a living, Bill Gross is robbing the PIMCO bank vaults and depositing the money at JNS.
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Fly, do you have a price target for GRUB?
50