A close below the $90 level could mean a deeper decline for SYK to the next level of support around $80. 

Friday Small-Cap Focus: Xoma Real Money Pro($)

Small biotech plunged in July, but has stabilized on two key deals.
BIIB's action since late November has been constructive. 
While others struggle, this stock is testing its all-time high and shows no signs of slowing.
Health care names Merck and Baxter are troubling.
I see two possible approaches for the medical-device maker.
Follow these maxims and you should do well in this volatile sector.
It is hard to see the biotech firm not becoming a takeover target.
History indicates pharmaceutical companies with low multiples offer payoffs down the road.
Rival offer threatens management's bid to stage a lucrative buyout.

Columnist Conversations

Judge Smails embarrassed me into writing it!
Some pretty obvious selling in the FATMAN names vs the Nasdaq futures post regular session open. FATM...
You can see the time/price support on the daily chart of SPX below. It also shows you the next major decision ...
$185.80 Exhausted and a long weekend. Column up shortly Sold some IWM as well.


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