|Day Low/High||12.60 / 18.33|
|52 Wk Low/High||1.39 / 19.39|
Blame the Fed? No. I'm reserving my wrath for the clueless buyers who appear to have taken a permanent intellectual summer vacation.
The question is when to buy and what to risk.
Here are a couple examples of what traders can do to take advantage of those days when stocks take a shellacking.
The biotech's shares run too hot and cold for this technical analyst's tastes.
I'll be watching for entry points to develop this afternoon.
I'm focused on managing positions and am doing very little new buying at this point.
It is important to note that watching for a reversal is much different than being short.
It's hard to believe the bounce will continue to run in V-shaped fashion.
It is a very different market environment now which can be very rewarding depending on your style.
The challenge of this market is to keep finding new buy entries as more and more stocks become extended.
What drives the trading action are structural issues, not macroeconomic news events or political drama.
This market may be extended by just about any measure, but that doesn't mean you should be fighting it.
I continue to believe that biotech and biopharma stocks will outperform in 2018.
Stocks remain pretty much flat-lined, with the main indices trading in a very narrow range on light volume. In fact, oil is one of today's few real movers, down nearly 3%. Elsewhere in the markets: Foot Locker is getting a little lift after Citigrou...