So her prediction looks good. Now if we break 1817 for S&P we could see 1225 per her projection. Biotechs would be obliterated. IMHO.
What I feared. Take today's pump on no new news to clear positions. IMHO.
More downside to come.
will make a decisive move. So tomorrow will be the day. If the market makes a big move tomorrow up or down, I will label her as the modern day Oracle.
Young growth stocks trade at multiple of revenue, not PE as a measure. I'll let the genius of the longs on this board figure out. So if the market cap us $800 million, and let's say 10X needs to be the revenue, or what if it's 20X, what is it longs?
How are those 3X long ETFs going for you, I am out again , in cash. Minimal loss thanks to SPY puts. Market is heading for huge downside IMHO.
Missed time this move. The difference between you and me is I bought protection, so my loss is minimal. Markets are starting to decouple from oil. Lets see how it goes this afternoon.
I think I have been consistent with my opinion before the Shelf and after the shelf. Positive before, not positive after with the market, shelf and biotech imploding at the same time.
Why, the IBB and the Biotech leaders that make $$$ are all crashing? Use the news today that reinforces the Go It Alone Approach to dump. IMHO.
I don't think you have to look to far in my posts; especially after the shelf to get out. BTW I worked with John Murphy (look him up) at ML and learned a great deal from him, and subsequently been certified through Market Technician Level 3 exam from Market Technicians Association Chartered. Two months ago, we didn't have the shelf, which no technician would have predicted; however, I was concerned about the large number of $21 puts executed around $32 so I bought protection at that time, because usually somebody on the inside knows something when that happens, and guess what they did. The shelf hit at the worst time imaginable, as biotechs have been getting slammed. I am looking ahead on the charts and they don't look good. Sir you are the one that has been exposed looking and your constant pumping from the highs down to where we are now, WITHOUT, changing your thinking...how can you post this absurd claim on me when your posts are nothing short of a joke. I would be very concerned with the weakness in biotechs and especially small biotechs and CEMP on strong market move days like Friday. Where are your posts on these matters? CEMP is so weak that it does bring up concerns that the market knows something that CEMP hasn't fully disclosed. I have seen this over and over again; especially in biotechs. At least buy protection, even though it is pricey here.
IBB charts look horrible. Be cautious.
IBB technicals look incredibly week, it looks like it has a ways to go down like the 198 area. That doesn't mean there couldn't be a bounce, but even that is doubtful. It;s been along time since I have seen charts this horrible.
Those are ETF and Index funds squaring trades. Tells you where alot of trading that impacted CEMP came from yesterday. We may get a rally, but I remember the Fibonacci Queen saying this cycle would change direction by next Thursday. Since the cycle is up, that means it's going down to new lows, possibly 1225 for S&P. I give her a great deal of credibility, since she has been right so many times. There is alot of economic data coming out next week; and I am guessing it's not good. Yesterday's rally was based on Japan's negative interest move, and bad US economic data, which is a hope for the Fed not to raise rates anymore. Recession looks very likely, and it looks to be a bad one, worse than 2008. IMHO.
The downtrend in IBB and Cemp very much intact.
Saying given the political climate: Mass AG suing GILD saying their pricing is illegal. Both Dems and Republicans getting on the bandwagon. Mergers / Buyouts will most likely be on hold until well after the elections to see what the new President will do. Why because Co's don't know what they will be able to charge for a drug. Guy Adami says don't buy biotechs until well after the election. I think biotechs are going much lower to adjust to these risks. These can't be good for CEMP if the big biotechs that are raking in cash are tanking. IMHO. Sell on any bounce.