Even I’m not crazy enough to short this thing, but good God, just look at Eli Lilly (LLY). It’s a straight blast higher, day after day, and it has a price/earnings ratio in the triple digits. Are they expecting a cure for every form of cancer in the next few weeks?
As for the market in general this morning, it’s Just Another Bounce. You can see on the NQ how we’re ripping toward the same ol’ same ol’ Fibonacci. I doubt it means much except for the next hour. More By This Author:Bearish Signals: Wrapping Up The Day With Chart Analysis
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