by early afternoon.
There clearly are people booking some profits at the 7.25 level
Tonight we see if WS was way too pessimistic or way smart.
Lousy flume today. This may help MM keep it below 7 for opt exp unless markets decide to get more active sometime today
Many are packing away some profits after. 6X run from the January lows.
Hopefully LG has some great things to add in the CC to resume the buying as it moves to JPM guideance
All in all, we are still in a 52 week down trend adjusted for the few tick ups it had. Stuglling to hold 86 from 117 where it traded one year ago and down from 100 at start of 2016
Thus trend app,use to damn near ever. Bio stock so this is not necessarily a reflection on GILD
I hope they have a better ER and CC this time around
More importantly, I want to hear what he says about the plans for future appreciation. Will he be able to convince the remaining shorts and coverin analysts that this as sustainable?
LG called them out last time one by one on how they came about deciding on their assertions for IO pricing.
So far it has been a long and painful process getting hear. What he says about how to hold this advance will be interesting t listen to.
Good argument but since when has anything political made sense? I bet LG has the upper hand but somehow nearly all the time when you leave it in the hands of politicians, things are screwed
Not so sure can blame this on him. Perhaps they could have done a mid qtr update or an update following recent activities and approvals, so maybe on that point you have something.
Otherwise, everything is in the crapper in bio and may stay here. Beside the negative comments but the candidates on high drip prices, there are several states that now have ballot issues for Novembr to address this as well.
Politics may be the driving the narrative. If the drug companies said they are done dveloping drugs that save lives because of the backlash they have received and continue to be bashed on, than that might change the narrative. But this won't happen.
Incredible distrust f the company and the sector.
Maybe this morning is just about day traders pocketing a very nice bounce? But WH the hell knows.
Date is for shareholders of record as of 7/25 unless it am wrong about this, so they will not see the divi
for the divi.
Amazing. Wonder if thy even know this?
Gold is down 1.18% and ABX is down 8%
Mad selling on what? Suspect the reasons why gold rallied will resume again shortly. For now WS thinks you need to be in stocks. Time f some profit taking I suppose.
Nothing changed in the macro to suggest this is not juts a short term blip.
decide it is safe to buy.
Amazing the thinking these people have - group think.
Dude, really? Nonetheless, my note was about last Friday. They are not moving into IBB sector though in the way you may think.
when a stock or sector is out of favor, no matter how silly or stupid the selling is, no matter how deep the dive was, until they start buying again why the hell do I need to buy?
Once they start to like the sector again, there is a hell of a lot of room to go to the upside. Lessons are expensive on WS.
For now we see the silliness continue in strength. Fortunately these two trades that I currently have are from a low base.
The relentless hate of the group will change with upcoming earnings or a change in narrative on the sector but for now they are killing the IBB and the components therein.
I agree with some of this. Well extended beyond every moving average, regularly retraces 7.50, is outside billing er bands, etc.
There is some strength coming back in on every pull back though. MACD on a daily basis still shows buying strength.
I pulled out last week on the charts and other reasons. Waiting for a moderate pull back first. I think the buyers coming in now are those waiting to add shares on minor pull backs, perhaps more covering, or those who missed the boat altogether. All in all I will wait, because I am not sure this struggle to advance higher will happen without consolidation or some selling. The rise was. Swift, strong and could last and resume.
I hope I don't miss something waiting for it.
Even more shocking is that some people find no issues with the deliberate and repeats lies about emails and the lies to cover up the reasons for the murders in Bengazi, perpetrated by HRC, than she even said what does this even matter any more. That they are not troubled by this or her and the crimes of the foundation is scary stuff.
The news and upgrade of this morning may not have any benefit for us until next week if the damn sector can catch some love from WS, or at least stop hating it this much.
Did not think they would be able to reach that deep to take out the 102, now maybe they will.