A popular axiom among long-only investors is to “buy low sell high.” For those investors who are equally interested in making money from both markets going up and markets going down, the parallel axiom is, “short-sell high and buy-to-cover low.” In the short-term, the stock market is overbought, and it
NUVA stock has been down today on rumors that JNJ (Johnson & Johnson) will announce a lateral fusion device in the post earnings conference call. JNJ web site shows that the head of its device business will be on the call indicating there may be some truth to the rumor.
Merck had the best two day gain ever in its history. After a 38% gain, this afternoon smart money was selling in the wake of massive short covering as measured by our proprietary studies. The initial trigger to the upside today was an analyst upgrade. Nothing fundamental has changed in