iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,033 Blog Posts

BIOTECH HAS BOTTOMED: TRUST THE SCIENCE

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.

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One comment

  1. Mr. Cain Thaler
    Mr. Cain Thaler

    I’m vacationing in Virginia with family and can’t log in to Stocklabs, but I opened a position in $BOIL just now.

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    • 0 Deem this to be "Fake News"

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