If the mainstream media is good for anything, it’s the ability to keep the herd, the retail, (Robinhood kids, et al.) fully distracted until it’s absolutely too late for action.
Even though this report from ZeroHedge gives all kinds of ‘signals’ saying we’re not there yet; It even goes as far as showing there’s no yield curve inversion. Of course that means ‘no risk’ of bear market.
Then going on to say, ‘None of these measures indicate a bear market is near’. I mean, you can’t make this stuff up.
What’s the table above (yesterday’s close) say about what’s really going on?
At this point it’s obvious the media are not going to discuss the on-going bear market in biotech, SPBIO.
Doing so, would require some kind of investigation as to why? That would open Pandora’s box and have everyone digging for truth … something to be avoided (censured) at all costs.
Amateurs always want (need) to know why.
Livermore was never concerned with the why. He looked for ‘what’. What is the price action doing now or what is it likely to do.
As Wyckoff said, ‘the why always comes out later … after the fact’
‘Why’ is a useless trading strategy.
However, in the case of biotech, we can take a good guess what the ‘why’ is all about.