The biotech exploded to the upside this week with the Nasdaq Biotech ETF (IBB) up 8% at the close. In the video below I review IBB as well as its three top holdings: Gilead Sciences (GILD), Biogen (BIIB) and Celgene (CELG). Continue reading
So Snapchat, now known as Snap, Inc. (SNAP) went public last week and it was a feeding frenzy. Shares priced at $17 started trading at $24 and closed that first day at $24.48 with 217 million shares traded. Friday they piled on an additional $2.61 closing at $27.09.
I believe at one point the total estimated value of Snap was well over $40 billion. Incredible for a company that lost $500 million last year. And they don’t have any competition…right? We’ll see.
But their timing is perfect. Coming public at a time when bullish readings on the stock market are at 30 year highs…at least the Investor’s Intelligence Advisors Survey last week was. With the stock market at all-time highs and consumer confidence at the highest since 2000 it’s “party on Wayne”! Continue reading
This post is a repeat of one I published over two years ago. The title of that July 2014 post was “When you look at the chart, what do you see?” Some of the details might not be current but the idea sure is. So what is the chart’s story?
It’s interesting to read the financial press. They always give a reason for the market’s action. I can almost picture them sitting around and trying to figure out what they are going to say for any given day. So the Dow was up 28.7 pts yesterday, what did they say?
Reuters: “Stocks managed to score modest gains on Friday, but the S&P 500 posted its biggest weekly drop since April as investors showed only mild enthusiasm after getting their first glimpses of earnings.”
Bloomberg: “U.S. Stocks advance as Internet rally offsets Portugal”
MarketWatch: “The U.S. stock market closed higher on Friday after the main benchmarks picked up steam in late afternoon, trimming weekly losses.” Continue reading
When used as a verb, tinker has the following definition: attempt to repair or improve something in a casual or desultory way, often to no useful effect.
When I was younger I would have several successful trades or weeks, then get hit by a big loss or several losses and I would immediately start to tinker with my trade setups and indicators.
This of course immediately messes with your head and doesn’t help. I was reminded of this as I watched golf this weekend. Continue reading
We are about to find out. China just released several disappointing economic reports today. Read “China’s Economy Grinds Down a Gear as Heavy Industry Drags” on Bloomberg.
In today’s video I look at the collapsing Shanghai Composite Index but first I check in on our markets and several key ETFs including IBB and XLF. This is a very brief view of what my Insider Members get.
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