What a tumultuous market. Will Celgene pop on earnings on 5/4, and earnings aside, is it a cheap buy right now anyway?
Celgene reports earnings on 5/4. Earnings play aside, are traders and investors rotating into or out of pharmaceuticals?
Hi Steemians, I'm 
.
The market doesn't know what to do with itself right now. With a Fed meeting taking place over the next couple days, Caterpillar's CFO claiming we've seen a "high water mark" with Q1 earnings, rate concerns, trade concerns, and historic geopolitical uncertainty (especially regarding Iran's nuclear program), some traders claim we've already seen April and May's strongly anticipated earnings rally.
If that's true, 1. what a squishy rally, and 2. where do we go from here?
Thanks in advance for lending me your attention!
Pharmaceuticals are a wild card among the classical winners (usually, financials, materials, and energy) and losers (REITs, utilities, etc.) in a late-cycle rotation.
It can be argued a lot of Wall Street cash has sought the arguably greener pastures of cryptocurrencies. But could we see prices move upward along the right side of the chart in pharmaceutical companies?
CELG reports earnings on 5/4. Celgene took a dive on 4/30 on troubling news about a drug in its development pipeline.
Did that drop make Celgene a bargain buy?
CELG's drop on bad news has put it at technical support. The uncertainty of its earnings report and the market overall has it arguably priced cheap. Is Celgene a cheap buy in this market with a possible earnings surprise on 5/4 and upside potential with a rotation into pharma?
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