Major indices posted another huge loss after mountains of bad news. The Philadelphia Fed showed the lowest numbers since 2001 and MER posted very weak numbers. The results was another deep selloff with the Financial sector leading once again the way. The problem here is that there is still no fear on the market and this is allarming. The consequence is that the risk is getting greater day after day on both sides of the market.
Here an interesting chart:
Pharmion Corporation
(PHRM)
gapped up to a new all-time high in November. The stock is completing a cup & handle patter and could resume its uptrend soon.
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