Biotech stocks have been surging since their mid-March plunge (back below the 50DMA), but it appears that is at an end as XBI – the SPDR Biotech ETF – is now down almost 7% from Friday’s highs on heavy volume (and back below the 50DMA once again).Which has smashed XBI back below its 50DMA on very heavy volume..This is a […]
Think you too could “Sarao” the markets? Step right up and test your ‘spoofing’ skills…As an “old school point’n’click prop trader” he managed to set and cancel thousands of trades in milliseconds.Click image below for reaction speed test…If you can’t beat 20ms, then every HFT shop just front-ran you and executed your ‘test’ trade…It appears ‘humans’ are not capable of […]
Benchmarks posted solid gains on Monday after weak jobs report raised hopes of a delay in interest rate hike. Friday’s nonfarm payroll data showed job additions slumped to a 15-month low in March. Meanwhile, U.S. service sector growth rate also touched a three-month low last month.For a look at the issues currently facing the markets, make sure to read today’s […]
The Stock Market In 2015 Is Starting To Look Remarkably Similar To The Stock Market In 2008
By Michael Snyder, on March 31st, 2015Are we watching a replay of the last financial crisis? Over the past six months, the price of oil has collapsed, the U.S. dollar has soared, and a whole bunch of other patterns that we witnessed just […]
Author’s impression of today’s stock market…Post-FOMC, everything’s not looking so awesome…Small Caps were the biggest lower on the day, followed by Nasdaq, Trannies and The Dow & S&P… but the drop was very uniform…and started as the cash markets opened…The Dow has fallen back into the Red YTD and the S&P is close…Financials are now down 2% from before Yellen…Biotechs […]
Echoing the grave concerns of no lesser ‘maestro’ of manipulation than Alan Greenspan, Wells Capital Management’s Jim Paulsen notes that while the U.S. stock market has risen by about 3 times from its crisis low in March 2009; much of this advance has been against a backdrop of disappointing productivity gains… should productivity growth remain subpar, stock market risk […]
–A+Apple stock officially begins trading as member of Dow Jones Industrial AverageBy Neil HughesThursday, March 19, 2015, 06:33 am PT (09:33 am ET)The world’s most valuable company is now a part of the Dow Jones Industrial Average, as Apple officially became a part of the index at the start of trading on Thursday.
Apple replaced AT&T on the Dow when the […]
Biotech stocks have been on a tear lately, with the SPDR S&P Biotech (ETF) (NYSEARCA:XBI) outrunning the S&P 500 about 45% to 10% over the past 10 months. And momentum still is on biotechs’ side, with 57% of the XBI’s components trading above their respective 50-day moving average. For perspective, the S&P 500 only boasts 41% on that front, and […]
Benchmarks ended in negative territory on Friday as upbeat nonfarm payroll data reignited fears about sooner-than-expected interest rate hike. Meanwhile, the unemployment rate declined to six and a half year low in February. The S&P 500 witnessed its biggest one-day decline in last two months on Friday. Moreover, benchmarks finished in the red for the second consecutive week.For a look […]
In January we noted that despite Janet Yellen’s “irrational exuberance” moment when, last summer, the Fed chair mentioned biotech as a sector where valuations looked “substantially stretched,” biotech stocks have continued their relentless ascent thanks in part to M&A deals worth 40 times sales and IPOs for pre-revenue companies.Now, with the sector still making new highs, the bubble chorus is […]
