Wolfgangrene's charts Message Board

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Strategies & Market Trends : Wolfgangrene's charts

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To: ItsAllCyclical who wrote (1060)	5/28/2015 5:03:36 PM
From: The Ox	Read Replies (1) of 3976

This seems to be a market that refuses to go down. There were enough cross currents which may have taken down the market today but by the end of the day, SPY was basically flat. I would be very cautious going against the market as a general rule until it starts to show some cracks. Playing short term options like wolf does is probably the safest way to "go short" at the moment and limit losses. The prices of many drugs are "obscene" and at some point in time there will be a strong enough outcry that will change the dynamics of the industry. Especially drugs that have been around a long time and could have generic equivalents that don't get generics produced because of the lengthy patent protection currently in place. The massive gap between recouping your investment, making a profit and obscene profits the industry is currently collecting will have to close one of these days in the not too distant future, IMO. BIB has lower highs that could signal a back fill move, so it's a candidate for shorting. Tight stop would need to be in place if it goes above the most recent high!!

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