|Day Low/High||22.55 / 23.80|
|52 Wk Low/High||3.85 / 27.50|
The market's reaction to James Bullard's comments this morning is following an all-too-common pattern.
Kite, a Gilead Company (Nasdaq:GILD) and Sangamo Therapeutics, Inc.
-- Kite to Receive Exclusive License to Leverage Sangamo's Gene Editing Technology in Allogeneic and Autologous Cell Therapy Programs in Oncology --
Here's what you need to know now for Wednesday, Feb. 14.
It's hard to believe the bounce will continue to run in V-shaped fashion.
It is a very different market environment now which can be very rewarding depending on your style.
If we have a little consolidating action here the buyers will start pushing again.
There are signs of stabilization, but the market is still digesting some very big swings.
The volatility trade that propped up markets is no longer available.
It would be a longer-term positive if the overbought conditions are alleviated.
What drives the trading action are structural issues, not macroeconomic news events or political drama.
There is still a very strong appetite for individual stocks with momentum.
If you're looking for something negative to say about this action about the only thing you might argue is that the action is too positive.
Investors in Sangamo Therapeutics Inc saw new options become available this week, for the August 2018 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 240 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration.
I'm trying not to be sucked into the market-timing game and am looking mainly at setups in individual stocks.
But you need to be selective and have discipline.
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