Biotech Values

[jbog]

My first buy was at 11:33 and the last buy was 10 minutes later. I keep a watch list of about 6 bio's and recenty they have been moving in lockstep to each other.

This morning, while they all started somewhat positive they all went negative together. Around 11:25 I noticed that Mnta picked up vol and price and broke completely away from my group which was interesting.

What confused me was that Teva was rallying at the same time so I came up with the conclusion that the extensive short group was spooked and looking for a exit. I didn't think it was longs trying to get in but rather the shorts leaving.

Towards the end of the day, I still didn't have a great feeling mainly because both Teva and Momenta had a great day so I unloaded.




good luck