I’ve had my eyes on Biogen (BIIB) for a while as a short, but I was too slow on the trigger. For those more patient than me (AKA everyone on the planet), it’s worth a look.
Long-Term Biotech Short
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Tesla’s Troubles
I didn’t even think it was physically possible for an investment bank to issue anything less than a “Hold” on a strong from one of their analysts, but evidently Tesla (TSLA) has received a downgrade to Sell from no one a body than JP Morgan. I pointed out the vulnerability of this stock earlier, and since only December it has lost nearly 30% (!!!!) of its value.
‘Tis But A Scratch
I read a few days ago that John Cleese was saying that politics in the US nowadays seems like an endless Monty Python sketch, and he has a point. Before I look at the US equity markets today I just want to reflect on the bizarre nature of the news we are watching nowadays.
In the ‘special military operation’ in Iran it is now clear that there were never any negotiations with Iran since the war started, and it isn’t even clear that the US wanted any talks, as the person preparing to negotiate on the Iranian side, former Iranian foreign minister Kamal Kharazi, was seriously wounded in a US/Israeli attack on his Tehran home three days ago. If he survives, his enthusiasm for future negotiations might be somewhat dampened by his wife’s death in that failed assassination attempt.
Trump declared on Saturday on Truth Social that there were only 48 hours left of the ten day pause he gave to the Iranians, and if there is no ‘deal’ in that time, which frankly seems doubtful, then he would rain down hell on the civilians of Iran. Since then he has said in another ‘Truth’ that he will now not start bombing Iran ‘back to the Stone Age’ until Tuesday (tomorrow).
(more…)Wake Me When It’s Over
For me, trading this market has morphed from an electric thrill to a tepid bore. The reason is simple: the nonstop threats/TACO cycle is exhausting, and making trading decisions that can be upended by the unhinged whims of a single man isn’t my cup of tea. It’s “Chinese trade talks are going well” all over again.
You can see the market’s bewilderment by way of the /ES grinding away with absolutely no clear direction for days on end…………
Ceaseless
Considering the precipice our toes are all collectively poised over, it’s bizarre that as I stand here just before the opening bell, the entire market is essentially unchanged.
Over the three-day weekend, there have been three mains on the /ES chart:
