mercredi 1 avril 2015
When the generals Are Sold Into Quarter-End, Something's Wrong
Posted on 13:52 by nice news
Many leading glamours and generals took gas yesterday as the SPX erased the lion's share of Monday's big spike. It's been a bear market in follow through, nothing new about that.
But Tuesday's selloff had the whiff of liquidation. The selling in biotech generals like Celgene (CELG) and Amgen (AMGN), which had recently set new highs, leaves a sour taste on the tape.
Who needs to get glamours like this off their books at the end of the quarter?
It feels like something's up.
It's as if there is some big smart money that is concerned about liquidity and is concerned that there's not enough room for willing and unwilling sellers to exit at the same time... i.e, the start of the 2nd quarter.
Perhaps players want to beat their competition to the punch after the first down first quarter (albeit marginally so) in a few years.
Perhaps players want to lighten up rather than take another quarter of Mr. Toad's Wild Ride.
Yes, I realize CELG may have been down on issues regarding patent news in Europe. But it is also on the verge of triggering a Rule of 4 Sell---a break of triple bottoms traced out over 2 months.
Read more: http://ift.tt/1xZ62p0
But Tuesday's selloff had the whiff of liquidation. The selling in biotech generals like Celgene (CELG) and Amgen (AMGN), which had recently set new highs, leaves a sour taste on the tape.
Who needs to get glamours like this off their books at the end of the quarter?
It feels like something's up.
It's as if there is some big smart money that is concerned about liquidity and is concerned that there's not enough room for willing and unwilling sellers to exit at the same time... i.e, the start of the 2nd quarter.
Perhaps players want to beat their competition to the punch after the first down first quarter (albeit marginally so) in a few years.
Perhaps players want to lighten up rather than take another quarter of Mr. Toad's Wild Ride.
Yes, I realize CELG may have been down on issues regarding patent news in Europe. But it is also on the verge of triggering a Rule of 4 Sell---a break of triple bottoms traced out over 2 months.
Read more: http://ift.tt/1xZ62p0
When the generals Are Sold Into Quarter-End, Something's Wrong
Inscription à :
Publier les commentaires (Atom)
0 commentaires:
Enregistrer un commentaire