1208 stop barely worked...this is setting up for one helluva nasty reversal...It may make a new high yet, but the bull bet is getting very scary. I have removed all hedges.
just got a text from a friend who works at Amgen. 10% layoffs across the board in R&D are coming by end of month. they broke the news to employees today, not known yet in media. i doubt anyone here is trading biotech, but just in case.
Once again, big money selling into the close. Reminiscent of yesterday.
Ignore this activity at your own peril. Big money unloading after spending the whole day dragging the price up to where they want to kick in the sell proggies.
I expect more unloading to happen into the close here.
Still holding TVIX, actually added some more, and now I am all-in.
well, this should be the lesson when I got too excited.
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support area now. green line must hold. bulls pray please...
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spuderik wrote:just got a text from a friend who works at Amgen. 10% layoffs across the board in R&D are coming by end of month. they broke the news to employees today, not known yet in media. i doubt anyone here is trading biotech, but just in case.
ooooooooo, can't touch that, can't trade that
if true "not known yet in media" that is the definition of insider trading
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
I don't think it is tradeable anyway, but certainly a good macro point to note on jobs. If biotech is cutting jobs the US is in TROUBLE. Healthcare and its associated industries seem to be the only real safe haven given the aging demographic of US population.
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Cobra, is it the case you are bullish in the context that we should test the highs again today/tomorrow and then going short.
You just don't want it to go down prematurely before you have time to load up?
BullTart wrote:Once again, big money selling into the close. Reminiscent of yesterday.
Ignore this activity at your own peril. Big money unloading after spending the whole day dragging the price up to where they want to kick in the sell proggies.
I expect more unloading to happen into the close here.
Still holding TVIX, actually added some more, and now I am all-in.