Not all growth is hated today. We see some bids in Amazon (AMZN) and Alphabet/Google (GOOG, GOOGL). I spy buyers and call buyers in White Wave (WWAV). Regeneron (REGN) is making a run to $500 and Domino's (DPZ) is bouncing back nicely. People seem to be taking to a positive Workday (WDAY) note. Ulta Salon (ULTA), which has been hammered, is making a tad of a comeback, and UnitedHealth (UNH) and McKesson (MCK) are roaring.
Yet, two of my faves, Allergan (AGN) and Biogen (BIIB), simply refuse to rally. Someone is selling these stocks -- both of which are in my charitable trust Action Alerts PLUS -- with a vengeance that I think it is misplaced. Allergan has lost support in part because it is viewed as a roll-up, in part because it is selling its generics business to Teva (TEVA) and no one seems to want to touch it until the deal is complete.
Biogen is regarded as Public Enemy No. 1 because of drug price increases, even as there are dozens of other perpetrators. Now, of course, it is being threatened with a huge chart breakdown. We know there's no coming back from that in this tape.
There's good news in other beleaguered spots. The airlines are percolating after United Continental (UAL) reported a good number and Delta (DAL), I think, is going to deliver a positive figure, too, next week. And the comparisons get a heck of a lot easier.
The other good news? Unlike the last few quarters, the banks are not running up into their earnings. That's good; they are much less likely to sell off when they don't deliver strong bottom lines.