Large Caps Are Recovering But Follow Q1 Earnings Closely
Fidelity Select Biotech FBIOX( $176 ) must hold $172 for new buys.
Healthcare sector XLV ($56.94) lagging industrials and energy.
April 15 Low Must Hold IBB ($207.70)
- Our top picks that are off 5 day bottom and higher: ABBV ALKS ALXN, BIIB, GILD.
- Even laggard Celgene (NASDAQ:CELG) down 16% YTD is catching bids.
- MOMO and Smaller Caps-Dip In For Day Trades Only -XBI ($125.44) low at $115.40
Valuation Models From October 9, 2013 Revisited
- Onyx buy-out by Amgen (NASDAQ:AMGN) at $10B still high-water mark so M&A action should be mid-caps.
- Stocks higher on list: ALXN, INCY, PBYI.
- Stocks lower on list: ARIA, BMRN, CLVS, PCYC, REGN, SGEN.
Small and Mid-Cap trading action is volatile with good volume.
Disclosure: I am long ABBV, GILD.
Additional disclosure: I am long FBIOX and short mid-cap biotech stocks on a daily basis,