Keeping Tabs on Everything

The latest biotech blow-up, in RPTP, down roughly 40% today, drives home that lesson, once again, that even as a multi-year bull market leader biotechnology stocks are still riskier-than-usual stocks to own on an individual basis. We have been discussing strategies to minimize those risks for Members today. Of course, it is exciting for buried longs when a beaten-down name like ONVO bounces 11% today. But the chart has been obliterated, and the great "story stock" has not been a crowdpleaser for Wall Street, just yet. 

Elsewhere, the market seems to be in a bit of a lull in front of the FOMC with the Jewish holidays likely taking a segment of traders away from their desks. 

The Japanese Yen remains firm, and the VIX is hovering in the mid-20s. Equity bulls want to see both of these circumstances changed in all likelihood before we see a sustained rally higher.