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.
I suspect that the sector is setting up for a run at $100 on the XBI if not breaking above it. People expecting a JPM selloff on the lack of.
So today I did a chat on Twitch. If you go to the page there should be a video recording that you can watch. https://www.twitch.tv/chimeraresearch Rest assured quality will improve.
The snorefest that is JPM continues with no deals and not particularly meaningful company updates. The sector was understandably weak yesterday morning but it had a pretty nice reversal during.
It looks like JPM is going to be a dud. The only deal announced so far with the smallish LLY deal for DERM last week. This has to be one.
I think macro is officially in the background for now. It seems clear the US will not respond and most encouraging is that the US noted that they will not.
We remain in the calm before the storm (perhaps both macro and in terms of JPM). I still think the market is underestimating possible Iranian responses and seems to be.
Another slow news day or at least slow trading day. I think the market continues to drift and perhaps we get a large small volume move but markets near yearly.
We have a decent news morning but I want to focus on three and can do so with a Western theme: the good, the bad, and the ugly. 1. The.
Today will be interesting in whether or not we can break into new highs for the week. It looked like Monday was going to trigger a breakout and run but.