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Biotechs Battered Into Correction - Biggest Drop Since May To 1-Month Lows
Yellen Capital is backing up the truck... as Biotechs drop 11% from the highs, officially in correction.
S&P Biotechs down 5% - biggest drop since May...
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Massive short-covering jobs rally tomorrow...part of the plan to show they can raise rates and the market goes UP
good call. lots of short interest out there, got to squeeze the hedge funds.
SPX 2175 by Labor Day, then sell on Rosh buy on Yom... or is it the other way around? which is the one where you can get 364 days of fucking people over wiped clean?
Only one month low? Barely a scratch then.
Seems only China can match.
BTFD? BTFD.
Fed is engineering a market shock in August to avoid need to hike in Sep.
Yellen has painted herself quite a corner and per Lockhart's comments the other day, only "signifificant deterioration" in macro (i.e., financial markets) will force him to hold off come Sep.
Again, a market shock this month is the only way to avert a hike in Sep.
Then the sheeple will say, thank you fed for saving us, do what you will from now on we are behind you 100%. Like they did with the Japan "vote".
Battered today, bug**r*d on Monday.
What do you expect from bubbletechs?