CELG is proving to be a great short trade. The stock is currently trading around 64.20ish in premarket trading down from its 70.18 closing price. This stock is coming down to its 200 sma around 60 dollars. If you covered any of your short in the days previous to now, I would put the short back on today. This stock has too much downside not to.
EMC is up in the premarket. Two catalysts provoked this stock higher. First, VMW, the firm EMC spun off a stake in that has done stunningly well in recent weeks, reported earnings that were substantially higher than estimates. Second, EMC itself reported this morning and beat on topline revenue and matched on bottom line EPS. I'm currently waiting for the conference call. As long as EMC can hold the gains here, I believe it is headed much higher still.
CM
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