Slight Pullback, New Name Added

Dow: -63.28…
Nasdaq: -16.16… S&P: -4.88…

Biotech didn’t show much of  a hangover today, as it managed to bounce after Donnie Trump’s negative comments yesterday. It wasn’t much, but XBI managed a 1.5% pop.  I’ll take it, because it was better than a follow through lower.

Yesterday’s Trump’s comments were actually directed more towards big pharma I think than biotech.  With that said, its interesting to note how XPH, the pharmaceutical etf, held uptrend support yesterday almost to the penny.  I point this out, because that was a very important and successful retest. That is now the big level to watch for support going forward. If it breaks, there will be some problems.

In other news today, portfolio name CLVS popped 8% and continues its mission higher.

I added EXEL as a new long to the P&L today.  The stock looks low 20’s to me.

See you in the morning.

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