Yo Pit Crazies,

If you are a member of OP Mentoring you can try out the Pro Room for about the price of a Starbucks everyday. Come and get it.

This market cycle has been ugly. Most of the year the SPX was driven by just 7 or 8 stocks in Big Tech. For markets, this is not uncommon. The Nifty Fifty in the 70s, Dotcom in the late 90s, and social media, cloud and phone giants this time around.

A major ETF at COVID lows is just plain stupid. Everyone and their brother is jumping out of this for reasons I will reveal shortly.

Mystery ETF 5 Day Chart

A booming growth industry at panic levels. What to do?

What to do?

The weight loss drug narrative is getting out of hand

Apparently we don’t need biotech because everyone will lose weight taking a pill. That will reduce the need for drugs so biotech is trading at fire sale prices. This will be a good topic for OP Mentoring to structure some longer term positions in this ETF. Not all money piling into tech at crazy prices is a good idea and some money into biotech at fire sale prices is a great idea.

Check out OP Mentoring on Monday when we cover the S&P Biotech ETF, (Ticker: XBI)

To Your Trading Success,

AG