Just a quick follow up on our sentiment and technical discussions on biotech.
What do you think? Does this bear market in biotech start to reverse?
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Joined Aug 2, 2009
1,847 Blog Posts
IBB coming out of aversion. Loving the action in the Russel! Financials finally getting a strong bid.
IBB IWM and XLF to lead this market to new highs
Need $VRX to start shaping up b4 making that call imo…. lots of political/event-risk still on the 2016 table
Agreed, but I think they’ve discounted a lot across the sector in general.
IBB sure looks good. My only question would be, is a 32% pullback enough to shake people after such a monster run? A few non-market folks I know never sold out of their biotech funds even though they gave up and sold everything else.
Political events already priced in
huh?
X making a late day push – I bought weekly $14 calls Monday that were looking good at the open today….not so hot after that…
TWTR starts to move after this failed breakdown . Its to cheap at these levels. Need my leaps to start working. Olympics,Election,NFL, and monetizing the offline users to be reflected in upcoming quarters
position sizing helps a lot…
Picked up BABA calls.
Love BABA. Bought some yesterday as well.
yeah if it goes should be big. Nice call on the markets BTW.
Ouch. Timing is everything for BABA. Can’t trust the Chinese
The S&P and Nasdaq both turned postive for the month today. If they hold that through the EoM, then IBB goes higher, along with everything else.
Wow. Compelling.
Pretty good for a Professional Trader
Actually, I’m not a professional trader
We know. I think that’s the inside joke.
No sh!t.
I was just wondering if I would catch anything if I threw that bait out there.
Also, to be honest, I’m not sure why you asked the question considering
1) You already think the nasdaq is going higher
2) You already think IBB is leading the nasdaq
So it’s like you baked a cake, and are now looking for the flour.
I’m encouraging you to be quiet. You have an opinion on everything here. You’ve typed more words here in a week than I have all year, only to hear yourself talk.
I’ll be honest: that’s probably true, and I didn’t add to the topic. I actually will try to butt out more.
Gold has finally started to take a real breather. I’m looking for a bottoming candle in GDX bef
Where you been? Haven’t heard from you since February.
not sure whether to be concerned or not since I am holding some TWTR calls…
http://www.marketwatch.com/story/twitters-stock-tumble-belies-bullish-chart-patterns-2016-05-24?siteid=yhoof2
OA, to answer your question, from what you’ve taught (and this is coming from someone who self-admittedly is not particularly strong in charts), it looks like more likely than not that there’s a big upward trend move in the making.
It’s a combination of two factors, one being that it looks to be breaking out of the second largest “balance level” while simultaneously, your personal indicator is still at a relatively low, suppressed level. It’ll be interesting to see if we get that big volume spike, because that’ll be the move where the FIMO’ers jump in.
not until it confirms through $290.
“Confirms” is the worst word used in trading.
huh
Anyone not invested 100% is losing money.
And biotech doesn’t matter, never did. It operates in it’s own vacuum.
Another nail in the bear coffin…Crude wants $50 and has $10 more worth of upside
Another larger than expected draw on crude inventories…supply:demand balance has improved considerably ever since the ban was lifted on exports. Higher rates and $50+ crude will get the banks going in a very big way.
“but but we’re so close to elections….” – thus, yes trend on.
However, how does the troll-o-meter look? double confirmation?
$NAMO eating $NYMO’s lunch – there’s your leader.
Hey, I’ve been saying its all about Nasdaq as well. Best market set up in as long as I can remember.
Anyone in FSLR here?
Yup.
Started new position on $FSLR yesterday. Like it here.
If we are indeed on the cusp of the mother of all rallies, here are some questions folks should not be asking: Where does the rally stall? When is the next data point I should reduce exposure ahead of?
The question folks should be asking: Am I positioned correctly to maximize gains? How long can I sit on my hands knowing that some stocks will increase ten fold in the right environment? Can I finally quit my day job and trade full time instead? (Getting ahead of things with the last two but folks do need to recognize a change of mindset is required if the bull market has resumed after a range bound 18 months).
Just grabbed some $SHAK calls. Good spot, and the implied volatility is at an all time low.
And I’m going to add to my August $S calls today as well if my order hits.
And that’s why you never trust the Chinese. Not even the biggest of its companies. Lol. BABA so shady
huh
XBIT – It’s very thin, no revenue. Inside ownership is 35%+, strong management team, may start selling product in next 6 months, and Thorpe Mckenzie – great American – owns about 5 million shares (director). He is very smart. Everyone should have a little or so.