Jeff, regarding the drug sector....
this is worth a look
schaeffersresearch.com
long term regression channel broke.
I'm watching PFE, SGP, BMY, JNJ, LLY etc. to see what happens here.
That said, I've been watching time and sales on MRK, and have noticed that there have been surges of buying lately. The daily candles don't look too good, but Stoch(5(3)3) has a nice trend up going, and macd looks to be ready to cross over (up), along with ROC taking a nice turn up, all echoing what I've seen in the price action, but not really echoed in the daily chart.
I shrugged and bought some really cheap calls on it.
The 60 minute chart is interesting....the price and the 10,20,40,50 ma's are all squeezing into the apex....I'm rather curious to see where it goes.
Cheers |
