Buy the dip script continues in the market. As soon it looked like market going to break down the range, dip buyers showed up yet again!
So now we are approaching the overhead resistance of the range, it will be interesting to see if the rips get faded again or we finally break out of the range. Some nice plays from the watch list shorting bio tech names like ISIS, JUNO, KITE and long oil names like LNCO BCEI and SM.
I will be looking for some fades on extended oil names soon , at the same time , will be watching some oil names that has been lagging and finally moved today to to see if they can get some continuation moves as “rising tide lifts everything”, Biotech names had some pullback and dips were bought today, i will be keeping an eye to see if the dips buyer’s continues the bounce.
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