Very Strange Whipsaw Day
Who is in charge of this market, humans or computers?
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.