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Todd Harrison: Random Thoughts on Biotech, Banks, Gold, and More
Global indices are sticky green and the banks are pretty in pink.
Todd Harrison    

Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO.

Here are my thoughts on the market in no particular order.

iShares Nasdaq Biotechnology Index ETF (NASDAQ:IBB) 234 is a support for biotech and an area for bulls to lean against, if that's their thing. IBB 215, the 200-day moving average that hasn't been touched since 2012, is the support.

http://image.minyanville.com/assets/buzzbanter/charts/original/032614/toddibb_1395848803.gif
Click to enlarge

Global indices are sticky green, the stateside test lower notwithstanding. Market breadth is neither here nor there, and not at levels that qualify as a tell either way.

Gold $1,300: Double secret support at the 50- and 200-day moving averages. They are Bovine backstops if you're feeling lucky (or if you like defined risk).

Markets aren't really reacting to the ECB jawbone on lower rates, at least not yet. Inconceivable.

The banks are pretty in pink but holding above KBW Bank Index (INDEXSP:BKX) 71.50.

Until that breaks, which will likely coincide with a breach of S&P (INDEXSP:.INX) 1850, the bulls will be singing themselves some Marley.

"Ss over Ns" continues, but you gotta squint to see it today.

I used to play Candy Crush Saga, but I became obsessed and had to banish it from my world (all the friend requests for lives didn't help). I've since adopted Quiz Up as my time killer of choice (I'm learning patience with a wife and three kids). It's a time better spent, in my view, if you have to spend your time looking at a smartphone.

Wait, there are the "Ns" dipping into Red Dye. Here we go again.

I'm still holding the GW Pharma (NASDAQ:GWPH) with a cost basis under $62, so you know. Not huge, but I'm there.

Jumping on another call -- this morning was a marathon -- but this afternoon frees up, which is good!

I'll be back. As always, I hope this finds you well.

R.P.

Twitter: @todd_harrison
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Position in GWPH

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Todd Harrison: Random Thoughts on Biotech, Banks, Gold, and More
Global indices are sticky green and the banks are pretty in pink.
Todd Harrison    

Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO.

Here are my thoughts on the market in no particular order.

iShares Nasdaq Biotechnology Index ETF (NASDAQ:IBB) 234 is a support for biotech and an area for bulls to lean against, if that's their thing. IBB 215, the 200-day moving average that hasn't been touched since 2012, is the support.

http://image.minyanville.com/assets/buzzbanter/charts/original/032614/toddibb_1395848803.gif
Click to enlarge

Global indices are sticky green, the stateside test lower notwithstanding. Market breadth is neither here nor there, and not at levels that qualify as a tell either way.

Gold $1,300: Double secret support at the 50- and 200-day moving averages. They are Bovine backstops if you're feeling lucky (or if you like defined risk).

Markets aren't really reacting to the ECB jawbone on lower rates, at least not yet. Inconceivable.

The banks are pretty in pink but holding above KBW Bank Index (INDEXSP:BKX) 71.50.

Until that breaks, which will likely coincide with a breach of S&P (INDEXSP:.INX) 1850, the bulls will be singing themselves some Marley.

"Ss over Ns" continues, but you gotta squint to see it today.

I used to play Candy Crush Saga, but I became obsessed and had to banish it from my world (all the friend requests for lives didn't help). I've since adopted Quiz Up as my time killer of choice (I'm learning patience with a wife and three kids). It's a time better spent, in my view, if you have to spend your time looking at a smartphone.

Wait, there are the "Ns" dipping into Red Dye. Here we go again.

I'm still holding the GW Pharma (NASDAQ:GWPH) with a cost basis under $62, so you know. Not huge, but I'm there.

Jumping on another call -- this morning was a marathon -- but this afternoon frees up, which is good!

I'll be back. As always, I hope this finds you well.

R.P.

Twitter: @todd_harrison
< Previous
  • 1
Next >
Position in GWPH

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Daily Recap
Todd Harrison: Random Thoughts on Biotech, Banks, Gold, and More
Global indices are sticky green and the banks are pretty in pink.
Todd Harrison    

Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO.

Here are my thoughts on the market in no particular order.

iShares Nasdaq Biotechnology Index ETF (NASDAQ:IBB) 234 is a support for biotech and an area for bulls to lean against, if that's their thing. IBB 215, the 200-day moving average that hasn't been touched since 2012, is the support.

http://image.minyanville.com/assets/buzzbanter/charts/original/032614/toddibb_1395848803.gif
Click to enlarge

Global indices are sticky green, the stateside test lower notwithstanding. Market breadth is neither here nor there, and not at levels that qualify as a tell either way.

Gold $1,300: Double secret support at the 50- and 200-day moving averages. They are Bovine backstops if you're feeling lucky (or if you like defined risk).

Markets aren't really reacting to the ECB jawbone on lower rates, at least not yet. Inconceivable.

The banks are pretty in pink but holding above KBW Bank Index (INDEXSP:BKX) 71.50.

Until that breaks, which will likely coincide with a breach of S&P (INDEXSP:.INX) 1850, the bulls will be singing themselves some Marley.

"Ss over Ns" continues, but you gotta squint to see it today.

I used to play Candy Crush Saga, but I became obsessed and had to banish it from my world (all the friend requests for lives didn't help). I've since adopted Quiz Up as my time killer of choice (I'm learning patience with a wife and three kids). It's a time better spent, in my view, if you have to spend your time looking at a smartphone.

Wait, there are the "Ns" dipping into Red Dye. Here we go again.

I'm still holding the GW Pharma (NASDAQ:GWPH) with a cost basis under $62, so you know. Not huge, but I'm there.

Jumping on another call -- this morning was a marathon -- but this afternoon frees up, which is good!

I'll be back. As always, I hope this finds you well.

R.P.

Twitter: @todd_harrison
< Previous
  • 1
Next >
Position in GWPH

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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