Very Strange Whipsaw Day
Who is in charge of this market, humans or computers?
Earlier:
My biopharma screen has gone green. Maybe “taper light” scenario means buy biotech as macro and interest rates are not affected.
More later but NASDAQ reversal to up 0.44%, XBI up 2.5%, FBT up 3.4%, PCYC up 3.3% and GILD up 2.4%.
Mid caps pharmas up 3%.
Incyte (INCY) up 35% on pre-FED news on Phase 2 results.