There is no doubt in my mind that in the current market environment less is better for a majority of the participants. However, I also believe that you have to stay engaged, go through the motions so you can stay in tuned with the market.
The biotechs have been under pressure all year, but stocks/ETF’s go up and down not up or down. It seems that $XBI has found support at the $48.50-$48.70 level–if you drill down the chart to an intraday level you might be able to find a trade on the long side with a close stop below the $48.5 level.
CREE, SWNC, SXCP, TTS, KSS, NTES are some of the stocks of interest to me on the long side if and only if they go through yesterday’s high. I’m speculating in a very short time frame.
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