From the Desk of Kimmy Sokoloff
The market is back to happy mode.
$SPY is trading above 400, and all is well.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
The market is back to happy mode.
$SPY is trading above 400, and all is well.
by David
From the Desk of Kimmy Sokoloff
This morning $SPY broke below its 200-day moving average at 395.50 and then managed to come back above it.
It shrugged off $MSFT’s earnings report last night.
I call it the comeback kid!
by David
The largest insider buy on today’s list is a Form 4 filing by RA Capital Management.
The hedge fund reported a purchase of roughly $25 million in Fulcrum Therapeutics Inc $FULC, increasing its ownership stake to 23.8%.
by David
From the Desk of Kimmy Sokoloff
$MSFT reported last night, and, at first, it rallied above $250. And then management had their conference call.
We’ll see how it acts, if dip-buyers show up or it just heads back down to $226.
by David
From the Desk of Kimmy Sokoloff
There was a major glitch at the New York Stock Exchange today, and it really did a number on the opening of the market.
Prices were all over the place, and names were halted.
Three of my positions below went to my target. But due to the glitch they won’t get filled today, which they really should.
It was a day to step aside.
by David
The largest insider buy on today’s list is a Form 4 filing by EcoR1 Capital LLC, which reported a purchase of roughly $2.9 million in Zymeworks Inc $ZYME.
EcoR1 Capital also filed a Form 13G, disclosing a stake of 7.80% in the cancer biotech stock Janux Therapeutics $JANX.
by David
From the Desk of Kimmy Sokoloff
The futures are indicating lower this morning. A healthy digesting is warranted.
I’d like to see 396, roughly, held over the next few days on $SPY.
If we push past 402.70, then we can potentially see 405, the next level above.
by David
From the Desk of Kimmy Sokoloff
I mentioned in this morning’s note that $SPY had a date with 400.
We hit that level and ran to 402.60, which was top of the Bollinger band.