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Market Lab Report - After the Open 1/12/17

Major averages finished up on mixed volume. Biotech stocks will be in focus following a slump Wednesday when Trump said companies were “getting away with murder” with respect to drug prices.

With regard to Trump's other policies, St. Louis Fed President James Bullard said fiscal proposals discussed by Trump aren’t likely to take hold until 2018 or 2019. Thus even without gridlock, markets could experience difficulties much as they did after Reagan took office in 1981.

And of course, the mother of all potential headwinds, the QE bubble, could also burst in a rising interest rate environment.

Our Focus List has expanded, and note how some names have recently done well. This can be an optimal point to take profits if the price has gotten ahead of itself in context with the stock's chart. The market tends to have a rhythm wherein buying on constructive weakness near support then selling into short-term strength can help continue to push profits into your trading account. Then rinse and repeat.

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