With the election resolved, biotech could be ripe for consolidation.
Prices have marched their way all the way back up to the bottom end of key resistance.
It looks like CELG could retest the highs around $140.
But it now or buy it when it's higher.
I would look for GILD to try to stabilize in the $70-$80 area before a more durable uptrend.
Momentum is very good here and relative strength has improved greatly.
A poisonous atmosphere will still exist in Washington and there will be little, if any, honeymoon period.
It has real earnings, not some artificial, buyback-supported junk.
Let's take a closer look at CVS Health and Valeant Pharmaceuticals.
Thursday felt a lot like capitulation in this space. I was buying.


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