Tech Trader continuing to get longer by buying $HUM and $RSG. These and existing names all starting 2nd legs up in their uptrends. https://www.techtrader.ai/wall/?date=1465212622&post=9491
One take, although there should be others. Transports lagged in 2015. If you start that chart from 2016, then Transports are keeping up with SPX. As bad as transports got in 2015, the SPX managed to hold up. So what will it take to knock the SPX down? Got a scare from China last year, but now even their stocks look like they've found solid footing with BABA just shrugging off an SEC investigation. The biotechs are scary to me, this sector being most reminiscent of any currently to the days of the dot-com bubble. So many stocks are priced to have the cancer cure or something, but absolutely no one has it. At best, one may be able to become the standard of treatment for a cancer type. But people don't want to pay the same price for treatment, they want lower prices (in everything). That is symptomatic of a low-growth environment.
Take it from someone with inside experience in Biotech.. that "bubble" is already popping/popped. The investment market has dried up almost entirely, even large stable companies are hammered, and larger companies are buying up and partnering value where they can. I can't tell ya if the bottom is in but the investment environment itself has already gone to shit. If you stay safe with the larger, cheaply valued companies that can take advantage of buying up product pipelines, you should be fine.
so who is buying Valeant down here at $25? stock got destroyed after missing earnings and cutting forecast.
Im sure there are going to be bunch of longs throwing in the towel, lets see where the lows come in today.
large opening volume again...could mean the big boys are finally buying into this, or selling into strength
IMO, it looks like a good time to sell. Usually gaps like that which are sold into won't run up anymore, usually they hold their ground for a while or continue selling.
Looks like its time to get short, boys. Bulls couldnt even be bothered to hold one day on a breakout.
i would tread lightly here on shorting, a blow off top could come at any moment. if we consolidate here without a major pullback, watch out, the next big move could be to the upside.
I wish. Almost placed a small market order to be opened at the open today, but I knew I wouldn't be around to monitor for the first 2-3 hours so decided against it. Obviously it was the wrong decision.
Yes, the move would have to be lower today to confirm yesterdays topping tail. Still, the first day on a breakout should be the strongest.. not feel like a fakeout. It goes to show how low confidence this market is. Besides that, I think Brexit is gonna throw a wrench in things. Last I saw the voting polls only had ~1% difference between yes and no.
