Drugs Seriously Saved My Life

There are approximately 170 NASDAQS left in this rally. If you recall, I alluded to this rally over and over again, in the beginning of October. When all of the nuclear dust has settled, the NASDAQARY would have risen by exactly 10% for the month. I cannot vouch for the months of November and December, however.

Even though we’ve rallied, it has a distinct feeling of doom to it. Bears are firmly in control of the tape, pushing stocks lower with their opinions. That’s the nature of speculation. Right now the bulls are weak and their stocks are subject to bullying.

As for me, I managed through today, being long both HCA and LPNT. The only silver lining to my hospital exposure is the size of the positions: pretty darn small.

On the other side of the ledger, I caught a break via someone else’s misery, when late in the day the rascals at the FDA threw shade upon ABBV’s HCV drug. This is an interesting development, which places egg all over the faces of ESRX, who opted for that drug, as opposed to GILD’s.

My sole source in biotech, the Good Dr., loves GILD.

Being my second largest position, GILD saved my day with its 5.5% surge higher.

My top position is a Chinese one: BIDU. It moved with the market. Some of my other top positions that lagged included TWTR and SHAK. Also, I had a few other trading positions sink on me, both NK and XON suck dick.

In no way did this feel like a +300 day. Nevertheless, I’ll take these small gains of 0.9% and hope for better tomorrow.

NOTE: LAST CHANCE TO JOIN THE IBC TEAM AT THIS WEEKEND’S INVESTOR CONFERENCE.