Folks in the prediction business are having a very tough time today. Not only was Donald Trump supposed to lose without much struggle but, if the unexpected did happen and he won, then the market was supposed to crash on concerns about the great uncertainty he would create.
The markets did panic overnight, but the prospect of some very enticing dip buys had the indices in the green before they even managed to open. Not only are the indices ignoring all the panic in the press, but they seem to be celebrating the historic events.
Biotechnology is leading the charge and I'm looking for some entries. I sold a little Celgene (CELG) into strength but am adding Aratana Therapeutics (PETX) , Array (ARRY) , Global Blood (GBT) and a couple of others.
The market isn't buying that Trump is bad for business, which is a little disappointing because the opportunities disappeared very fast. Watch for increased volatility and if you are buying, make sure you are moving incrementally.