Posted by morton13 on 21st of Jun 2012 at 11:27 am
Celgene shares tumbled early Thursday after the drugmaker said
it's withdrawing its submission in Europe for a new indication for
its drug Revlimid, which treats the blood cancer multiple
myeloma.
looks like the chart came before the news... one reason I
like to look at the weekly charts....
from my daily newsletter Markman Capital
Insight....
The S&P 500 is now up more
than 6% since its closing low of 1,278.04 on June 1st. If the index
can continue to rally without revisiting that closing low from June
1st, it will set a record for coming as close to a 10% correction
without actually reaching that level, according to research by
Bespoke Investment Group.
That begs an interesting question: How has the benchmark
index performed in the past after it fell more than 9%, but less
than 10%, in a "near miss" correction? Well it turns out that the
answer is really, really well.
In the table above, Bespoke highlights prior instances. In
the most recent decline the S&P 500 fell 9.94% from its closing
high on 4/2 to its closing low on 6/1. Prior to that, the closest
the index came to a correction without actually getting there was
in 1932 when the index fell 9.86%. Interestingly, the third largest
'quasi' correction came back in late 2011, when the S&P 500 saw
a 9.84% decline.
For each near-miss correction, the table shows in the last
column the performance of the S&P 500 (in percentage points)
during the rally that followed the decline. Of the ten prior
periods, the average S&P 500 gain in the following rally was
23.1%.
That suggests a quasi-correction tends to provide a pause
that refreshes. If the current instance were to hit that average
gain, the benchmark index would challenge for a new high at 1531! I
doubt the rebound will get that far, but this is a very compelling
study nonetheless.
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HZNP
HZNP
Posted by morton13 on 25th of Jun 2012 at 02:36 pm
yeah I should have kept 1/2 and let it ride!
HZNP
Posted by morton13 on 25th of Jun 2012 at 02:24 pm
HZNP daily
enfuego!
PCLN
Posted by morton13 on 22nd of Jun 2012 at 05:01 pm
PCLN daily
watching possilbe inverse h&s pattern...
LNKD
Posted by morton13 on 22nd of Jun 2012 at 04:10 pm
LNKD daily
breakout looming....
thanks
CYTX
Posted by morton13 on 22nd of Jun 2012 at 12:05 pm
you two have taught me well....i've learned more in the last year than I did in the previous 10 so thanks!
also congrats on a successful baseball tournament, wow, spectacular!
CYTX
Posted by morton13 on 22nd of Jun 2012 at 11:38 am
CYTX daily
making a nice move today.
NUAN
Posted by morton13 on 22nd of Jun 2012 at 11:09 am
NUANdaily so far so good, read an article the other day where it is thought that Nuance may provide services for Apple's iTV
Airlines have been strong.
Posted by morton13 on 22nd of Jun 2012 at 10:00 am
$xal daily
HZNP
Posted by morton13 on 22nd of Jun 2012 at 08:57 am
HZNP daily.... guess I sold too early :-(
CELG
Posted by morton13 on 21st of Jun 2012 at 11:27 am
Celgene shares tumbled early Thursday after the drugmaker said it's withdrawing its submission in Europe for a new indication for its drug Revlimid, which treats the blood cancer multiple myeloma.
looks like the chart came before the news... one reason I like to look at the weekly charts....
CELG weekly
ROSG
Posted by morton13 on 21st of Jun 2012 at 11:00 am
ROSG daily watching to see if it breaks resistance, currently bouncing off the 9dma...
AMRN
Posted by morton13 on 21st of Jun 2012 at 10:46 am
AMRN daily
rocking higher...
CYTX
Posted by morton13 on 21st of Jun 2012 at 10:10 am
CYTX daily
adding to gains.
WPRT
Posted by morton13 on 21st of Jun 2012 at 09:59 am
watching here as it has neg divergence on the 60 min charts.
Interesting statistics (Matt can you condense for me?) thanks.
Posted by morton13 on 21st of Jun 2012 at 09:16 am
AFTERMATH OF CLOSE CALLS
from my daily newsletter Markman Capital Insight....
The S&P 500 is now up more than 6% since its closing low of 1,278.04 on June 1st. If the index can continue to rally without revisiting that closing low from June 1st, it will set a record for coming as close to a 10% correction without actually reaching that level, according to research by Bespoke Investment Group.
That begs an interesting question: How has the benchmark index performed in the past after it fell more than 9%, but less than 10%, in a "near miss" correction? Well it turns out that the answer is really, really well.
In the table above, Bespoke highlights prior instances. In the most recent decline the S&P 500 fell 9.94% from its closing high on 4/2 to its closing low on 6/1. Prior to that, the closest the index came to a correction without actually getting there was in 1932 when the index fell 9.86%. Interestingly, the third largest 'quasi' correction came back in late 2011, when the S&P 500 saw a 9.84% decline.
For each near-miss correction, the table shows in the last column the performance of the S&P 500 (in percentage points) during the rally that followed the decline. Of the ten prior periods, the average S&P 500 gain in the following rally was 23.1%.
That suggests a quasi-correction tends to provide a pause that refreshes. If the current instance were to hit that average gain, the benchmark index would challenge for a new high at 1531! I doubt the rebound will get that far, but this is a very compelling study nonetheless.
HZNP
Posted by morton13 on 20th of Jun 2012 at 11:26 am
HZNP daily
took profits today....been a nice trade, thanks Matt!
THLD
Posted by morton13 on 19th of Jun 2012 at 03:38 pm
THLD daily
possible breakout, this ones been a tough one for me to trade so I'm staying away but has potential....
PHM and SPF
Posted by morton13 on 19th of Jun 2012 at 01:47 pm
PHM daily
SPF daily
starting to take off...building permits are up....
MON
Posted by morton13 on 19th of Jun 2012 at 11:56 am
still looks good.
CYTX
Posted by morton13 on 19th of Jun 2012 at 10:54 am
CYTX daily
volume running +51% more than average....