One of the few charts out there that didn’t get blown out during the market rout in the last two weeks was the $IBB. Here’s a quick look at the last 5 days of price history against he $SPX.
As you can see, $IBB is sitting at its 5 day highs, trying to work it’s way through a multi-month price range.
A directional move is setting up here. Might be time to explore some charts in that space in a breakout develops in this group, post Fed.
I put on a starter in $SCMP. Aside from the brand names in bio, got any favorites?
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bios look ready to rrrrrrrrrrr-go up
AGIO —
SGMO TO YOUR SCMP
MNTA, ILMN
GILD
OA, Any thoughts on AAPL here? Getting blown up!
Thanks
I got some Jan calls. What do you have?
February Calls. Just pretty underwater unfortunately
Thinking about some TNA here into year end? Or not a good move?
Thanks OA
Small caps pretty Beaten down here? maybe a run into 2016? what do you think OA?
LABU. I’ve had too many accidents from idiosyncratic events in the individual names. I sold today with a 10% gain. Looking to reenter tomorrow on volatility dip lower.
SAGE has been strong lately and monster today. Took some profits.. for once. If punches thru and holds 200 day it should have some legs.
Just looked at SCMP.. stop at 15.50? The Grand Canyon below if it breaks support. Thinking shorts will cover on rise?
Medical device company NXTM looks ready to rip…
Very tempted to double down on PYPL Jan 40s
XLRN. Held up like a champ through the last few days. Lots of positive talk out of ASH15 conference. KITE and BLCM look good for a dip buy.
I keep looking at PBYI after that nice hammer printed on Friday.
HZNP
Also like TARO on the monthly, but trades thin.
Man these small oil just suck, what going on with $BCEI today.
My position got the Cosby.
I like RLYP. Have it from a while back. Good chance of being bought out in the new year. Their competitor was bought out and it was inferior.
Markets poised to rip tits tomorrow when. Fed raises rates….exact opposite of what everyone is expecting! Tick Tock
Why do you think Fed raising rates is opposite… looks like 95% of people are expecting a hike! doesn’t mean we don’t rip, but I don’t think that’s the opposite of the crowd by any means
Sorry I meant the market will do the exact opposite of what everyone thinks on a rate hike (it will rally higher vs. crashing)
On another subject, natgas futures begin rolling today through 12/18. At the very least there will be buying demand for the Jan contract while selling the crap our if the Dec contact. Bot some UGAZ short term bounce anticipated. Short leash.
LABD looks good to me
haha
CNCR rebalancing tonight. Look for a bump for those added to the ETF.
XLRN, BXLT
Nothing positive in the API inventory numbers. Close to a million barrell inventory increase at Cushing. I suspect production picked up after the Thanksgiving week. Expecting oil to retest lows. SCO to retest 137.
If EIA inventory coincides with API and oil rises, then a legit squeeze is on. So far USO volume is unimpressed transacting only 35 million shares today. Less than 15% of the float.
$ITCI long dated puts
The pain trade for the market is flat – the participants are looking for blood from the opposite side – they will just get more grind – the worst pain for either side. HFT’s and algos have made this market un-tradable – breakouts last a day, and horrific gap downs happen almost daily – good luck! 🙂
Screw biotech…solar is where its at.
A couple of interesting charts…
Restaurants: $shak looks awesome, and it looks like $blmn has tried to put in a higher low.
Japan: $caj looks great me and I also like financials $mzu and $mfg
In bio, like the look of $abeo, $anth, and $ttph in the trash aisle. Will add to $sgen today too.
Looks like I was profoundly wrong on home builders. Apparently my depressed rust belt home town is a trend bucker with our humming housing market.