Let the market meander around aimlessly for a while. I can go for a break now. I’m a bit drawn down from my 3 hour sleep schedule.
Sellers are making a valiant effort here, showing up in oddball, mega cap stocks. Under the gloss, there is an ugly market lurking in the breach. I couldn’t care less about any of that and know that prices are bound to go higher. In the interim, watch out for wild reversals, especially in the aforementioned chinese burritos. Don’t blame me for the sell off. Blame yourselves for not taking profits when you had the chance.
At any rate, even if the market reversed today, the sell off will be shallow and we’ll probably resume heading higher tomorrow.
Two days in a row my JAZZ gapped up more than $3, only to reverse lower–definitely a bearish sign. Then again, the biotech space is filled with surprises, such as 10,000% one day returns for PBYI Aug 105 calls.
As an aside, I’ve been doing some work on ZOES. I’d appreciate any anecdotal information you might have on this eatery. Do you slobs fancy yourself eating there often, or are you just a Wendy’s, Big Mac, Burger King type of guy?