Blog Post: Day 6 of $QQQ short term up-trend; 52 US new highs and 106 lows; 2 companies with weight loss drugs hit ATHs again, $LLY, $NVO, see daily charts

GMI4/6
GMI-23/9
T210830%

If their drugs continue to help people to lose weight, LLY and NVO could continue to gain. The risk is that any finding suggesting that these drugs designed for diabetes turn out to produce other harms could rapidly deflate these shares. For now, it is onward and upward for LLY and NVO. Note the GLB in August by NVO on huge volume. LLY had a GLB in April. Both stocks have almost doubled their lows the past year. Their chart patterns are almost identical. The late William O’Neil made a fortune buying Syntex, the developer of birth control pills. Buying disruptive technology can work! NVO has a MarketSmith comp rating=99 and LLY=98.

 

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