Dow: -28.97…
Nasdaq: +4.96… S&P: -0.38…
The market was pretty flat today, but there were a few movers and shakers. Healthcare and biotech led the pack today and many stocks in the biotech sector are really setting up nicely again.
KITE had some good data come out and it popped 4.2%. I took another 1/3 OFF for +32%. The other two stocks in that space, JUNO and BLUE are interesting. JUNO is edging up, and technically looks pretty good and BLUE is digesting its big move this year but may be setting up again. I’m watching BLUE.
ESPR also had a good day and moved up over 5%, so I took a little off there too +35%.
XLE gave some back today and closed back under its 50-day moving average. XLE is at a huge spot here, so the next few days should give us a good idea which way it wants to go.
OIH (oil service)gave back more, -2% today, closed under the 50 day and gave back most of yesterday’s nice action after hitting some lateral resistance. Bottom line, I still don’t trust energy but that could change depending on the action going forward.
If you’re watching gold (GLD) and the miners (GDX) it gets interesting here. Both have rallied with the dollar falling but both are right at 50-day moving averages and could either fail big time here or rip higher. My gut says lower, we’ll see.
GLD
GDX
Today I added two new longs.
RARE
INCY
$IBB, $XBI, $ESPR, $KITE, $JUNO, $XLE, $OIH, $BLUE, $INCY, $RARE