Haven't touched a biotech stock in years, all I know is IBB goes up every single day, most of those bio tech stocks are hundreds and hundreds a share, no one cared for those stocks years back but today everyone buys them up like dot com stocks......when I trade JNUG I buy very small amount of shares because I know it moves 10-20% in a week! I wouldn't buy more than 5% of my portfolio into that one ETF, too risky. But I do know if some type of black swan event were to take place over night and gold skyrocketed a few hundred dollars an ounce JNUG could easily rally 30-50% in one week, I know its a small possibility, but you never know in these markets whats coming especially after a long 6 years with just perfection each and every day.
What I find really amazing is that every morning at 10am, I wonder, could it be different this time? Isn't it too obvious if EVERY day the bottom is at 0930 OR 1000? And looking back at today, NOPE, a typical day. Yes, as I documented, yesterday threw me off course. I thought 10am, then 1030, then 1100 was the BTFD bottom...If yesterday keeps happening, I will know something has changed. This market will always let you out easy, so don't worry about BTFD...after 1000 winning trades, you can have like 3 bad days and then call it quits.
Of course, some days, we revisit the bottom -- which is why lunch time exit 50%, followed up 50% at break even would make sense.
No worries....this guy said more free money next week when the NASDAQ rallies back over 5000 to 5048!!! "Every time you reach a record high you get a bit of profit-taking and consolidation before you reach the next wave," said Randy Frederick, managing director of trading and derivatives at Charles Schwab.He said the important figure for the Nasdaq is not the 5,000 level topped on Monday but the closing high of 5,048, which he said the index could reach "within the next week."
ANOTHER YEAR AND HALF WORTH OF QE AND FREE WORTHLESS MONEY FROM EUROPE....central banks will keep pumping the markets from every single angle from keeping the system from collapsing little do they know this is going to be a complete failure .... Oh and if you haven't heard India lowered their rates the other day and China just lowered their gdp forecast to an even 7% so expect more QE from China once gdp falls below 6% and India will likely keep dropping their rates...every country is going to be sitting on 0% interest rates and QE in the next few years. One big fucking joke! The European Central Bank will start its 1 trillion euro ($1.1 trillion) bond-buying program on March 9, with expectations to end in September 2016, President Mario Draghi said during a press conference.Read MoreECB meeting live blogThe euro [ EUR= 1.1044 -0.0033 (-0.30%)] edged higher but still held below $1.11. Earlier, the euro touched an 11-year low in European trading ahead of the meeting.The U.S. 10-year Treasury yield dipped to 2.10 percent. The U.S. dollar traded higher against major world currencies."The broader market applications are the central banks are going to stay very vigilant to promote economic output," said Tim Dreiling, senior portfolio manager at U.S. Bank Wealth Management.Read More This is who the markets could be following"This is a very positive economic backdrop. I think the big thing today is Draghi's upgrade of European growth because of quantitative easing," said Doug Cote, chief market strategist at Voya Investment Management.