Weekend Thread

SPY Daily Chart (4PM)

We had a green week and moved from the bottom to the top of the box.  Volume on Friday was below average but the close was strong (and at 4:10 it's still climbing.)

In my opinion the headlines (and rumors) from Europe are driving U.S. equities.  It's still another week before the Greek elections and I hear the lady wants a rematch with the jerk that punched her.  Could be a pay-per-view steel cage event with the proceeds going to buy baklava for all.

If it weren't for FB we'd likely be more focused on Spain but all the talking heads seem to scream about how badly everything went and point fingers everywhere.  We're short on adults ... as usual.

Friday Afternoon

SGEN Daily Chart (11:35AM)

Seattle Genetic is a biotech and I don't usually do biotech.  I saw the CEO on MM early this week and mentioned it on the blog but did not follow up.  The company says they have a series of drugs that target cancer cells and do not harm healthy cells.  (That's as biotechie as I get.)

I liked the sales pitch and like the chart even more.  Nice volume this week and all green candles.  No position.  (Darn it.)

Friday Morning