European Rally Spills Over to US but Life Science Tools/DX Weak
A short term liquidity deal by the ECB to lend dollars to Euro-area banks has taken the heat off the sovereign debt crisis. For now.Many analysts however offer caution that the long term solvency issues have not been resolved. It does show that international central banks are working together....
Spontaneous Rally as Greece Bailout is Alive: Risk On
You can't say we didn't warn you that traders were tired of selling. Selling was exhausted by Monday as futures were down then turned positive by mid-day Monday. The roller coaster market tied to European chit chat is too amazing. Today the focus was on what Austria would do (they have not...
Healthcare and Biotech for Relative Safety: ALXN, REGN, OPTR, SGEN
A Place to Hide from Volatility Today was not as bad as early futures and European markets would portend. The S&P cut its losses to 0.74% and the NASDAQ was down only 0.26%. But as we recommended last month the healthcare sector looks good for relative safety. Drug stocks that pay dividends...
European Debt esp Greece Drive Market Down 2.8%
Imminent Greek Default? Buyers on Hold for the Weekend The familiar pattern comes back to haunt US markets as an ECB official resigned sparking a downdraft within 1o minutes. Jurgen Stark, a German who sits on the Board of the European Central Bank is an opponent of the bank’s buying program....
Nice Market Turnaround Today: NASDAQ up 1%
We are at the Rodman And Renshaw Meeting today while the market ignored macro events and found buyers in the life sciences and tech sectors. We will offer some bottom fishing ideas this week in addition to stocks mentioned last week. The trade for any upswing is long qqq providing biotech, tech...