I am back and the sector has barely changed. I do feel, however, that we are closer to a move lower than before. The market seems to be revising both.
The curious case of the flat market continues. At this point, I would call it a clear trend (with the trend being sideways). I know I have been waiting for.
What an odd market. Fundamentally it should be struggling. It was overbought and PE stretched and we are now starting to see earnings warnings from the corona virus and yet.
You remember how I believed that the sector was at a decision point and was unlikely to hang out close to the recent highs without breaking out or breaking down?.
Last Monday we were following a weak end to the previous week and I expected that to continue early in the week but instead we had a pretty strong rally..
So the sell off last week seemed like the market looking for news to sell off on and today it seems the opposite. Corona virus fears continue to decline and.
The market is off to a good start this morning but I suspect we fade. The old saying goes that markets never bottom on Fridays and typically when you have.
Proteostasis Therapeutics is a small biotech company focused on the development of treatments for cystic fibrosis. To their credit, they have 3 compounds, each of a different class in the.
The sector and market seem to be trying to make a decision. There was a decent selloff and now the bounce. Is the bounce just resetting the short term oversold.
We are heading into a perfect storm for weakness, so stay nimble and/or hedged. The sector has had a nice run and was overbought. We had an uneventful JPM and.
Thanks to everyone who was on the stream yesterday and those that watched afterwards. Not much has really changed between now and then. The sector appears relatively weak but perhaps.
I think the trading context for the near term is basically set. We have a potential macro scare with the Wuhan coronavirus, earnings, and the sector trading just below breakout.