Good Action-2 New Stocks and a Trigger

The market was flattish today but there was some decent action in bio-land. Even though Trump said last night that “my new big thing is pharma”, (oh joy), stocks handled it well. Later in the trading day today, a Congressman announced his meeting with Trump next week regarding drug pricing.

You would think these two comments would have rattled a nervous bio sector, but stocks took it in stride. Maybe they have discounted a worst case and are looking forward. Who knows?

XBI managed to move almost 1%.

Today I added 2 new names. One short and one long.

I added FIVE as a short Specialty retail sucks and this chart could end up being a real disaster if we are patient. Notice the massive topping pattern as well as the massive bearish head and shoulder pattern.  It’s sitting on the uptrend line too and if that breaks then see ya.

ALDR was mentioned in the Sunday video as one to watch and today I added it as a new long. I like the action, the technicals are positive and it is poking at some lateral resistance.

In other news in the portfolio, LOXO made a solid trigger as it ran up to 42.70 before it rested and went back and tested the breakout price.

EXEL added another 5% and AKAO made new all-time highs and ran 4.6%

Keep your eyes on AERI tomorrow, it didn’t trigger today but it came close by adding 4.6%. CLVS ran 5.7% in sympathy with TSRO (+12%) on a Reuters report that the latter was looking for a buyer. They are both involved in the same science.  Check the P&L for any updates.

Not bad for a flat market.

See you in the morning.

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