|Day Low/High||8.14 / 8.39|
|52 Wk Low/High||8.13 / 19.43|
It is a very different market environment now which can be very rewarding depending on your style.
If we have a little consolidating action here the buyers will start pushing again.
There are signs of stabilization, but the market is still digesting some very big swings.
The volatility trade that propped up markets is no longer available.
It would be a longer-term positive if the overbought conditions are alleviated.
What drives the trading action are structural issues, not macroeconomic news events or political drama.
There is still a very strong appetite for individual stocks with momentum.
If you're looking for something negative to say about this action about the only thing you might argue is that the action is too positive.
I'm trying not to be sucked into the market-timing game and am looking mainly at setups in individual stocks.
But you need to be selective and have discipline.
We have shifted from a market that was mainly index driven by the FAANG names to one where stock picking is more important.
The Boston firm said microbiology data show that investigational antibiotic omadacycline is 'active against the clinically important typical and atypical community-acquired bacterial pneumonia (CABP) pathogens.'
I've cut a few positions and haven't made any notable buys today.
There are few standout stocks, but there is broad strength so far today.
Here's what I'm trading today amid the 'flat with a positive tone' action.
Adam Feuerstein, Sr. Columnist for TheStreet, says Ligand, BioMarin and Sangamo are the next big things to watch in biotech.