Stocks have been most positive so far this week. Energy stocks have bounced, and oil spiked up over the past two days with Brent testing $60/barrel and WTI trading at around $53/barrel. We trade EOG calls in my Happy Trades portfolio and booked a +81.78% profit:
Today, FDX announced that it will buy TNT Express for $4.8 billion to expand into Europe. FDX stock jumped +2.7% on the announcement. Internet security stocks caught buyers today, as PANW went up +2.25% and CYBR popped more than +8%.
TWTR vaulted +4% higher today on takeover rumors. Biotech stocks more on the rebound today. CLVS traded up +8% as the company received a "breakthrough" status for its ovarian cancer drug. BIIB added almost $5. ALXN was up more than +3%. VRTX gained more than +2%.
Stocks were showing strength until the afternoon. But, big winners mentioned above still kept most of their gains. The broader market overall is still neutral. So, we may see some volatile days ahead. We are still mostly in cash. Let's be patient and see if the market shows clearer signals.
Good night and HappyTrading! ™