Biotech and Technology Stocks Rally, Is It A Breakout or Fakeout?
Biotech and Technology stocks both showed a little bit more life today, then they have in past days. Should this trend continue tomorrow, it would be a good sign for the stock market as a whole.
The stock market continues to be extremely volatile, with another day of wild price action. I think I wrote this last week, but it makes trading this market nearly impossible. I’m glad I do not trade the market, and only use a buy and hold strategy, easier to manage, and less stressful. The S&P 500 lows reached 2,700 today, by the end of the day we made a round trip and finished lower by only 1 point, go figure. The volatility remains too dangerous to try to time anything these days. The sad part, I think it is here to stay for some time, and we should get used to it.