Is biotech still kicking? LGND had great call activity Friday as support around 68 flexed it's muscles.
Sombody opened June 20 puts on the social media stocks at Thursday's highs. It's been a helluva run, but momentum and relative strength are weakening.
Although the market got a lot weaker throughout last week, the price action here is still pretty good.
Perhaps a head and shoulders bottom is setting up. It's a bit of a stretch, but pattern failure is just as big of a signal.
Numerex was hit hard on earnings. I was long and am looking to sell. It's very possible a down channel starts and a gap fill bounce comes, but you could have said the same thing about SODA at 55 in November.
