Bond Update
Bonds ($TLT) at the lows of the day.
This should limit the customary afternoon rally.
Position: None
This Biotech Could Become a ‘Sleeper’ Hit
Let’s look at this rising biopharma name working on several neurological condition treatments.
Locking in Big Gains on Two Positions
We’re opportunistically raising cash levels as we get ready ahead of the next EPS All-Stars reconstitution.
Tweet of the Day
Position: None
SpaceX Tweet of the Day
and my related comments:
Position: None
New SanDisk Price Target as Stock Threatens Another Parabolic Move
Let’s think a little more about the mighty, mighty SanDisk.
Late Morning Market Stats and Charts
– NYSE volume 7% below its one-month average;
– Nasdaq volume 52% above its one-month average;
– VIX index: up 6.59% or 17.48
Positions: None.
Follow Up to My Opener
The sort of abysmal price action in $MSFT, $AMZN, $GOOGL and $META are EXACTLY the concerns I expressed in my market structure post.
I worry that today’s weakness in the precursor of a market structure event not similar to past disruptions:
The proliferation, popularity and acceptance of leverage products and portfolio concentration in quantitative strategies, margin debt, the options market and leveraged ETFs argue in favor of rising odds of another October 1987 (“Black Monday”) or a 2018 “Volmageddon” (or Vix Bloodbath) event.
Position: None
This Recent Pick Is Up 50% Monday and Looks Like a New Biotech Leader
Stock picking is working as the indexes struggle.