Good luck, I see it closed at $32.25, after such a big dropped one would expect a bounce, but technically, there is no support until the $25.7 area or so. Since next week I believe that we are going to enter phase II of the Nassacre, I am waiting before jumping back into AGM.
By the way, it seems that the BGEN Amevive decision has been favorable (I still have not seen details, and I don't understand why), that was not "in the cards" in my model, and that may cause the biotechs to have a continuation of the bull move of today for few more days. If we get "sell the news" on BGEN tomorrow, that should reinforce the current bearish stance. If not we may have an excursion beyond the 1710 on the Naz, but by late Wednesday, this piece of good news should dissipate, IMTO and the Nassacre should resume.
Zeev |
