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Rayno Life Science: Biotechnology Sector Should Find Support Today

|Includes:Illumina, Inc. (ILMN)

Trends from early trading show promise for intermediate support in larger cap biotech shares today with the NASDAQ up 0.5% in early trading. This could be a good day for covering shorts and re-balancing in anticipation for a Q4 rally :

The IBB (130.82) is up 1.88%. The XBI is up 2.37%.

MO stocks are up: ALXN, MDVN, REGN,

The Rayno Biopharma Focus stocks are all green.

Illumina (NASDAQ:ILMN) is up 2.47%. We reiterated buy yesterday.

Sequenom (SQNM 3.56) is big winner up 17% on their Q3 Report with Revenues up 25% over prior year.

AAPL ($544) which coincided with the MO stock sell-off in biotech in mid-October is up 1.3%.

Disclosure: I am long AAPL, ILMN.

Stocks: ILMN