This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.
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Another Record in S&P 500
Biotech Coming Back?
Biotechs (IBB, XBI) also so showed cohttps://seekingalpha.com/symbol/IBB?s=ibbnsiderable strength today and a nice turn after taking a beating lately. With a nice reverse head-and-shoulder formation on the intra-day charts.
It will be important to watch for follow through in the sector in the coming days. This sector has been missing from the market for the past 2 years. It will important if the sector comes back to life.
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Michael Kramer is the Founder and Portfolio Manager of Mott Capital Management LLC, a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendation made during the past twelve months. Past performance is not indicative of future performance.