The party looks very much over. As much as we've debated this over the past 6 years, this time IS different. This is a black swan, no matter how the financial media tries to spin it. There's virtually nothing central banks can do, There should be some good trading opportunities going forward, but you still have to tread carefully. There's way more uncertainty out there now since the '09 recession. GL
According to the chart, WLL could head to the $7's.
Well said, although I'd argue faith in the CB's has wavered for quite some time, esp. in the US Fed. An early recession, with the profits recession as a catalyst, should certainly trump (no pun intended) the 2 year range thesis you mention.
I know you've always been a bull, but I gotta tell you.....here it comes....This time IS different. This is a move that's unprecedented in global history. They're rewriting the textbooks as I type. The uncertainty will effect the market for years; I wouldn't be surprised to see a bear market start this summer.
They're not necessarily. it's just that with a major binary event, the baby is usually thrown out with the bath water. I added to a couple of biotech stocks, that have no EU exposure. There may be some buying opportunities out there, but it may be better to see how the market goes in the coming weeks first.
Will the manipulation ever stop? Someone explain to me how this can be a good thing? They tell everyone it's good, so their clients can get out at higher prices. Anyone who doesn't believe this hasn't been trading very long. I'll weigh in....the uncertainty could last for years...In the meantime, I think a bear market and a recession is very possible.
The polls indicated Britain would vote to stay in the EU, so the market has been up huge, in advance of a confirmation of what the polls and vote will actually say. But how many times have we seen this? The short covering today was huge, pushing the markets even higher.
The Brexit vote and final decision takes the uncertainty out of the market.....but isn't that already baked into the indices? Are we no longer in a profits recession? Has China completely recovered? (spoiler alert: no) Isn't May, June, and the upcoming summer months considered negative for seasonality?
The futures may continue to climb overnight if Britain stays, however I'm betting on the classic sell the news, and I'm shorting any further strength in some specific equity names tomorrow, that have only risen because of short covering.
Ah yes. When in doubt, use the "market maker manipulation" excuse, in an effort to support your side of the trade. I'm assuming you're short, so you've probably ignored or are in denial about the fact the company has received a $100M investment, in essence putting a floor under the stock price.
No offense intended, because you're certainly not the only one, but I just can't believe how many uninformed, unsophisticated posters there are on this thread, who are actually trading stocks. If you can't answer your own question, you should not be in the stock market.
I think an 18% drop "selling the news" is problematic and excessive, as it plunges below the 200dma. $120 was too high, but the low $50's is too low, IMHO.
$25 is the key on both the daily and weekly charts. If we can sustain a move over $25 pre-approval within a week or two, I will expect a slow, steady move up from there until the approval is official.
Sentiment: Strong Buy
Re read my post...."likely" be approved. Likely is the key word. Public companies are required to disclose material events. Anything material regarding the dialogue between the FDA and Sarepta had already been disclosed to the market. Although the FDA didn't formally state "your drug is approved", Sarepta sees the handwriting on the wall. Judging from the share price reaction today on the cash raise, the street agrees with me.
With last night's news and the street's very positive reaction to this cash raise, I think we could be trading over $25+ within a few weeks, PRE approval.
The supply from the offering is apparently already absorbed by the buyers. In most cases in a shelf offering, the stock trades lower than the offering price, and grinds up slowly all day. At this writing, we're already $1 over the offer price in pre market.
Sentiment: Strong Buy