Same tune, just another day. The market has certainly forgotten what a down day is, we continue to grind higher making it difficult to buy aggressively. We all know that a down day is coming, everyone expects it, but I’m sure when it comes they’ll be shocked.
As I go through my scans, I’ve noticed that many small biotech stocks are holding up well, a lot better than the sentiment surrounding the sector. Stocks like XON, AMAG, ZIOP, have been trading sideways for a few months and are just emerging from their possible first stage bases. Biotechs like AERI, CLCD, have been immune to the recent biotech sell-off. The one issue that I have with biotechs is obviously the fact that on any given day you can walk into a huge gap down making owning the ETF a much safer bet.
Below are the stocks on my list today; I have an interest in these stocks if and only if they go through yesterday’s highs.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at firstname.lastname@example.org or 646-480-7463.
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