I’ve always said this market is like playing a giant game of real life whack-a-mole. How else to explain the ferocity of sector takedowns? Last year it was tech. Earlier this year it was oil and commodities. Now it is biotech, the crowned albatross hanging low around everyone’s neck.
You must understand that biotech is nothing more than a dream mixed in with liquidity. Since liquidity is now gone, so is the dream. It’s hard to catch falling knives in sectors that do not have fundamental underpinnings.
On the other hand, we might be setting up for a real turn in commodity related stocks now, if the dollar continues to weaken.
I like FCX, SLCA, and any oil with debt/eq less than 3.
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Spot on. I would add that it is my firm belief, based on extensive observation and experience, that the old timey practice of “stop popping” is now fully computerized. Brokerages make money on order matching. To be sure, they can’t and don’t change the primary trend…but a hell of a lot of order matching can be accomplished on the way to wherever any given market is going.
Stop&limit orders often ‘visible’ at least on small or discount brokers. as far as i know. Wanton corruption soup
If Sherrod is reading please ask your employer to get their act together. I can always tell when the algos are turned on as I can’t get charts or place trades. Of course on the bright side I can use it as a sign.
OUT OF CONTROL! The Doctor’s thesis must have been ONE THOUSAND BLOGS LONG!!!
IIS: Yes, but not just what is visible. They have the psychology of it nailed down solid. That is why “trading luminaries” refer to “mental stops”. Gotta be on the job all the time to make those work…
Adding ABT and ABBV, selling EOG and DD.