Today in Stocks — June 22 — Stocks to Watch
Bio up, Oil down.
New 52 Week Highs — 11
New 52 Week Lows — 395
Up Today — 2737
Down Today — 3070
Above 20 Day — 1455
Below 20 Day — 4687
Above 50 Day — 1189
Below 50 Day — 4953
Above 200 Day — 936
Below 200 Day — 5206
Market was down slightly today. TLT rallied though, which could be a good sign with bonds continuing to show strength, maybe it becomes a place to hide out?
The bigger fear is when equities AND bonds are both tanking together. We will see if they stay inverse or if we go back to both bonds and equities moving another leg down together.
Biotech, pharma, and healthcare all moved up today. This still seems to be the strong sector, potentially the leader in the next bull market? I am definitely keeping my eye here.
Oil and Gas, materials, all getting unravelled. A lot of people like the oil trade, right? With everyone talking about oil I think it’s only natural that it takes a beating. It may be a short term beating, and a lot of people think Oil is some long term trend trade, but for now it seems the weak hands are being shaken out hard. The obvious trade is usually at the end of the line right? We will see.
Shipping also got hit today. Supply chains getting solved? Supply of shipping coming in? That would be a good sign.
Everyone thinks these cyclical stocks will continue to go up forever, then they get rug pulled by the smart money that got in at the bottom.