Dr. Kris'  Instablog

Dr. Kris
Send Message
Dr. Kris hails from the land o' lakes, beer, bratwurst, and Bucky Badger. She traded in her cheese hat for a propeller beanie and has never looked back. She has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her... More
My company:
Stock Market Cook Book
My blog:
Stock Market Cook Book
  • Intraday Market Notes & Observations -- June 20 0 comments
    Jun 20, 2012 4:17 PM | about stocks: PJP

    2:30 pm ET: The wild swings in the charts of the major averages and the VIX show just how important today's Fed meeting was. In the space of just over a half an hour, the S&P 500 swung 15 points from low to high before settling back into a trading range. This swing represented a 1% move in the index but the real action was taking place in the VIX which moved by nearly 15%! A nimble VIX trader could have made her yearly salary had she been able to play this accurately.

    Market action today was concentrated around the Fed who said that while there's no QE3 (quantitative easing) envisioned for the near future, it did say that it will extend operation twist (selling short-term bonds and buying longer term ones) through the end of the year. That seemed to placate investors but it still wasn't what most pundits were expecting. This disappointment seems to be creeping back into the market as the major averages are sinking as of this writing (2:20pm ET).

    The one bright spot is coming from the drug sector. The ETF representing big pharma, PJP, is testing its recent all-time high of $32.45. A break through that could propel the stock to further highs. (The stock pays a small dividend and there are no options.) That's about it for now.

    Stocks: PJP
Back To Dr. Kris' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Bio-hazard: Biotech etfs $IBB $FBT $BBH all breaking support levels to notch new yearly lows.
    about 24 hours ago
  • Rays of light on a very dark day: Muni bond funds, gold/miners, utilities, rails.
    1 day ago
  • But Int'l bond funds popping: $WIP $IGOV $ISHG $PID all up 1-3%.
    3 days ago
More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.