We are less than thrilled at what we are seeing here. End of quarter today not so good. 50% of the market is already bearish…which makes us watch the other 50% closely. When markets are at or near highs, a 50% number is more than subpar…telling us fewer and fewer soldiers are going up the mountain. So pay attention here. Specifically, pay attention to the biotechs and to a little lesser extent, the semis. You already know our thesis on the biotechs. This is where the risk is…which cuts both ways. When it works, it works well. When it doesn’t, look out. Time to watch the BIB,IBB and BBH. All held the 50 day recently but now looking like a potential lower high. A break back below the 50 day would be worrisome because if the big strength gets taken out, the not so big strength goes bye bye. So again, pay attention here.
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- RADIO SHOW 8/15August 15, 2018 - 6:47 pm
- PRE MARKETAugust 15, 2018 - 8:24 am
Another morning where market has no memory from the day before as futures smacked this morning…but there continues to be some consistent action. CHINA again smacked this morning. Emerging markets smacked…this has been going on a while and would continue to avoid. On the other side, a select list of growth stocks continue to be […]
- RADIO SHOW 8/14August 14, 2018 - 6:49 pm