There’s no denying the biotechs are back in force. The gene editing stocks are leading and mostly everything else is higher by 3%+. Aside from that, SAAS is sharply higher by 5%.
What do these two industries have in common?
They were the most oversold.
Are we seeing a catalyst?
Yes. Commodities are collapsing and with it interest rates.
Rates crested near market lows and now with rates coming in, morons think the market has bottomed and inflation defeated.
The market is wrong, but I’m not one to fight mobs. I’m fully invested, hedged, looking for a continuation higher for risk assets tomorrow.If you enjoy the content at iBankCoin, please follow us on Twitter