InvestorsHub Logo
Followers 74
Posts 3548
Boards Moderated 0
Alias Born 03/23/2013

Re: isaeed post# 96767

Saturday, 12/10/2016 1:46:52 PM

Saturday, December 10, 2016 1:46:52 PM

Post# of 422616
This is purely technical trading going on right now, both with IBB and AMRN, but for separate reasons.
IBB contains some of the weakest performers of the Nasdaq composite. These weaklings are being sacrificed to satisfy tax loss requirements as the year closes out (but not for long - watch out above when that activity ends). This naturally puts pressure on the IBB.
AMRN is in a state of accumulation, setting up for a big move.
The comparison chart below shows the big picture. Clearly IBB has gone sideways - post its parabolic-top selloff, while AMRN is digesting/consolidating 85% YTD gains.

This market’s gonna squeeze this fruit soon with or WITHOUT news.
FFS
Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent AMRN News