Stocks Soared

As expected, the Fed left rates unchanged.

December 13, 2023

Good evening everyone. I have good news and bad news. 

Bad news, Stocktwits blocked web scrapers making it inaccessible to automatically pull follower counts. I am in contact with the team and look to resolve the issue soon. If you wish to pledge your support, send me an email and I’ll share feedback with Stocktwits. 

On to the good news… 

Stocks soared following today’s FOMC meeting. As expected, the Fed left rates unchanged. The Russell 2000 ripped 3.5%. Utilities and real estate rallied more than 3.6%. Tech lagged, gaining only 0.88%.

New 52-Week Highs trounced New Lows — 329 vs. 14.

The Best of the Best

Vertex Pharmaceuticals ($VRTX) is the best of the best. The $100B biotech broke out +13.23% after it announced a successful Phase 2 trial of its non-opioid pain therapy for patients with diabetic peripheral neuropathy (DPN).

Here’s the daily chart.

And monster monthly chart.

The Worst of the Worst

Target Hospitality ($TH) is the worst of the worst. The temporary workforce lodging provider plummeted -9.58% despite today’s strong tape.

Here’s the daily chart.

And weak weekly chart.

If we encounter a man of rare intellect, we should ask him what books he reads.

Ralph Waldo Emerson

Here are a few recommended readings…

Extraordinary Popular Delusions and The Madness of Crowds (Amazon)

Zen in the Art of Archery (Amazon)

Trading in the Zone (Amazon)

Thinking in Bets (Amazon)

Enjoying Popularity + Price?

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