We could end up getting some fundamental change from the Trump camp
regarding the space, but even that remains to be seen yet. However,
regardless of what does end up happening, we’re still convinced once we
have better visibility of the space as the new administration starts to
work things out, the removal of uncertainty should help those sectors.
Yet Friday, the biotech space was among some of the weaker sectors.
All pretty normal, and once again proving although we do see value
opportunity in the space, we’re not going to get too aggressive there
until we get something far more definitive – either fundamentally or
technically.
The bottom line is we’re still looking for a move to roughly 6,300 on the NASDAQ before we’ll re-assess its longer-term landscape again. It’s going to be more of how we get there than it will be just getting there.
As for oil and gold, both are moving lower in early trading this morning, and we’re still convinced both are headed even lower when it’s all said done.
There’s still an outside chance of a move in light crude to roughly $37, which would clearly be enough to rattle the energy space around those levels, while gold still hasn’t proved its found its ultimate bottom yet.
The bottom line is we’re still looking for a move to roughly 6,300 on the NASDAQ before we’ll re-assess its longer-term landscape again. It’s going to be more of how we get there than it will be just getting there.
As for oil and gold, both are moving lower in early trading this morning, and we’re still convinced both are headed even lower when it’s all said done.
There’s still an outside chance of a move in light crude to roughly $37, which would clearly be enough to rattle the energy space around those levels, while gold still hasn’t proved its found its ultimate bottom yet.
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