Bio Tech on fire Good news for traders... But maybe bad news for health care reform?? Obamacare let big pharma run wild at our expense... Repeal vote sitting in the Senate, is the market pricing in a rejection???
how 'bout a big fat no to that! sure looks like that's where this is headed ... the inventories report today wasn't too bad ... i wasn't around for much of the morning but evidently i hear there were some rumors swirling around about some opec comments that might have drove it back down we're right at the november lows here
Big pharma has always run wild, under both parties. What ever this next healthcare bill is, you can bet big pharma wins.
Indexes near all time highs, and we get more stocks making yearly lows today They just keep rotating to different sectors to keep the indexes up, and tech keeps rocketing. Tough to buy those tech stocks like this. Like stock1234 said they find something to buy. Maybe gold is next beaten down sector to get a bounce, near 200-day and 40 RSI.
it hasnt been that tough to buy the tech stocks, you just have to break the tech down even further, and youll see there has been rotation even within tech itself. although they all got hit last week and many of them pulled back to support, ive been in and out of mu and amd a bit this year, as the semi conductor stocks have been quite volatile. now biotech on the other hand has really thrown me for a loop, its too far gone for me imo, im not good at trading breakouts like CLVS. i wish i knew the secret sauce to tell which breakouts will continue and which are pop and flops.
Sounds like trading stocks is another of those things that can be said, "if you know what you're doing then it's easy". Just got to learn what to do. I too am in MU (at least 3 of us here), and could have taken a shot at AMD yesterday that it would gap up (that 12.35-12.55 area was thin). Hard to imagine these stocks like PI moving 10-20% in one day. Also in PYPL which had a great quarter and has a buyback program to support it. And LITE/AAOI which may be the followup to NVDA/AMD. Biotech I've just given up on, too volatile for me and I don't get excited over these cancer drugs that greatly benefit 5% of patients and the rest just prolong the end of life for 2 weeks.
agreed on biotech for sure. i also like your comparison of AAOI/LITE to AMD/NVDA, i agree. can also throw another name into that hat, OCLR, its like a baby AAOI. OLED is also another strong tech stock and it seems to be taking a breather after its crazy run up.
All of my tech position have healed from that rough Friday a few weeks ago. Looks like the market is stronger than I thought.
oil finally catching a little bid today ... saudi's saying they want oil at around $60 to launch aramco ipo seems the spike in the /cl coincides with the spike in the /es
got out of amd, i can see it running up into 15, but i rather take profits right here, will be looking to get back in if it flags back into the 8 EMA. was tempted to get into OCLR, its got a nice consolidation going on, but decided to hold off.
