{"id":5051,"date":"2016-08-22T16:57:05","date_gmt":"2016-08-22T20:57:05","guid":{"rendered":"http:\/\/www.thet3trader.com\/?p=5051"},"modified":"2016-08-22T16:57:05","modified_gmt":"2016-08-22T20:57:05","slug":"t3s-take-3-biotech-booms-amid-epic-snoozefest","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2016\/08\/22\/t3s-take-3-biotech-booms-amid-epic-snoozefest\/","title":{"rendered":"T3’s Take 3: Biotech Booms Amid Epic Snoozefest!"},"content":{"rendered":"

Get Started in Forex!<\/b><\/p>\n

My buddy Kurt Capra is hosting a FREE introductory webinar on forex trading tomorrow after the close.<\/span><\/p>\n

Click here to check it out<\/b><\/a>.<\/span><\/p>\n

You can also<\/span> read this article<\/b><\/a> if you\u2019d like to get to know Kurt a little better.<\/span><\/p>\n

1) Biotech Booms!<\/b><\/p>\n

It was an altogether lackluster day for the major averages, but biotech put in a booming performance that had the <\/span>NASDAQ Biotech Index ETF <\/b>(IBB) up a whopping 2.0%.<\/span><\/p>\n

Traders were pumped up by <\/span>Pfizer\u2019s<\/b> (PFE) $14 billion acquisition of cancer drug maker <\/span>Medivation<\/b> (MDVN), which could set off even more deal activity.<\/span><\/p>\n

Reuters had reported that several other players, including <\/span>Gilead <\/b>(GILD) and <\/span>Merck <\/b>(MRK) considered buying Medivation, so presumably, these suitors will seek other targets now that Pfizer has sealed the deal here. <\/span><\/p>\n

2) Yawn!<\/b><\/p>\n

At the open this morning, the <\/span>S&P 500 <\/b>dipped and the <\/span>VIX <\/b>spiked, which had many market observers (including myself) hoping that we\u2019d finally see some real downside volatility.<\/span><\/p>\n

It wasn\u2019t to be. The hot action in biotech kept the bears at bay, and the <\/span>Russell 2000<\/b> put in a pretty decent performance as well. <\/span><\/p>\n

Crude oil took a big hit today as traders are becoming less certain that OPEC will freeze or cut production at the big meeting in December. <\/span><\/p>\n

The S&P finished down -0.1% at 2183, making today the 31st day without a 1% move in the index.<\/span><\/p>\n

3) Hawks Fly?<\/b><\/p>\n

On Sunday, Fed vice-chairman Stanley Fischer said the US economy was closing to hitting full employment and the Fed\u2019s 2% inflation goal.<\/span><\/p>\n

Right now, traders are pricing in a 51% chance of a December rate hike, so markets are split right down the middle. <\/span><\/p>\n

We may get some clarity with FOMC Chair Janet Yellen\u2019s speech at Jackson Hole on Friday.<\/span><\/p>\n

But I\u2019d like to caution traders against making a rush to judgement on what Yellen may say. <\/span><\/p>\n

Don\u2019t forget that many Fed officials came out hawkish ahead of the June meeting, only to be shocked by a dovish statement.<\/span><\/p>\n

P.S. Don\u2019t forget to check out Kurt\u2019s FREE forex webinar!<\/b><\/a><\/p>\n

Tuesday\u2019s Trading Calendar<\/b><\/span><\/p>\n

US Economics (Time Zone: EDT)<\/b><\/p>\n

10:00 New Home Sales (Jul): exp. 580k, prior 592k<\/span><\/p>\n

10:00 Richmond Fed Manufacturing Index (Aug): prior 10<\/span><\/p>\n

Global Economics<\/b><\/p>\n

12:00 JPY BOJ Gov Kuroda Speaks<\/span><\/p>\n

03:00 EUR French Flash Manufacturing PMI<\/span><\/p>\n

03:30 EUR German Flash Manufacturing PMI<\/span><\/p>\n

04:00 EUR Flash Manufacturing PMI<\/span><\/p>\n

18:45 NZD Trade Balance<\/span><\/p>\n

21:30 AUD Contruction Work Done q\/q<\/span><\/p>\n

Earnings<\/b><\/p>\n

Before Open:<\/span><\/p>\n

Best Buy Co<\/b> (BBY)<\/span><\/p>\n

Toll Brothers <\/b>(TOL)<\/span><\/p>\n

After Close:<\/p>\n

Intuit Inc <\/b>(INTU)<\/span><\/p>\n

Lannett Company<\/b> (LCI)<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Get Started in Forex! My buddy Kurt Capra is hosting a FREE introductory webinar on forex trading tomorrow after the close. Click here to check it out. You can also read this article if you\u2019d like to get to know Kurt a little better. 1) Biotech Booms! It was an altogether lackluster day for the major averages, but biotech put in a booming performance that had the NASDAQ Biotech Index ETF (IBB) up a whopping 2.0%. Traders were pumped up by Pfizer\u2019s (PFE) $14 billion acquisition of cancer drug maker Medivation (MDVN), which could set off even more deal activity. Reuters had reported that several other players, including Gilead (GILD) and Merck (MRK) considered buying Medivation, so presumably, these suitors will seek other targets now that Pfizer has sealed the deal here. 2) Yawn! At the open this morning, the S&P 500 dipped and the VIX spiked, which had many market observers (including myself) hoping that we\u2019d finally see some real downside volatility. It wasn\u2019t to be. The hot action in biotech kept the bears at bay, and the Russell 2000 put in a pretty decent performance as well. Crude oil took a big hit today as traders are becoming less certain that OPEC will freeze or cut production at the big meeting in December. The S&P finished down -0.1% at 2183, making today the 31st day without a 1% move in the index. 3) Hawks Fly? On Sunday, Fed vice-chairman Stanley Fischer said the US economy was closing to hitting full employment and the Fed\u2019s 2% inflation goal. Right now, traders are pricing in a 51% chance of a December rate hike, so markets are split right down the middle. We may get some clarity with FOMC Chair Janet Yellen\u2019s speech at Jackson Hole on Friday. But I\u2019d like to caution traders against making a rush to judgement on what Yellen may say. Don\u2019t forget that many Fed officials came out hawkish ahead of the June meeting, only to be shocked by a dovish statement. P.S. Don\u2019t forget to check out Kurt\u2019s FREE forex webinar! Tuesday\u2019s Trading Calendar US Economics (Time Zone: EDT) 10:00 New Home Sales (Jul): exp. 580k, prior 592k 10:00 Richmond Fed Manufacturing Index (Aug): prior 10 Global Economics 12:00 JPY BOJ Gov Kuroda Speaks 03:00 EUR French Flash Manufacturing PMI 03:30 EUR German Flash Manufacturing PMI 04:00 EUR Flash Manufacturing PMI 18:45 NZD Trade Balance 21:30 AUD Contruction Work Done q\/q Earnings Before Open: Best Buy Co (BBY) Toll Brothers (TOL) After Close: Intuit Inc (INTU) Lannett Company (LCI)<\/p>\n","protected":false},"author":6,"featured_media":4093,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[],"class_list":["post-5051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/5051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=5051"}],"version-history":[{"count":0,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/5051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/4093"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=5051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=5051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=5051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}