I don' think that GENZ, and for that matter, many biotechs are going to start a major march north, the BTK, IMTO, still has a long march down, after a quite sizeable (more than the averages) bounce from here, so, I would take profits in GENZ on a bounce to the $25 area (closing the gap). Only stocks identified as core positions should be held longer, or use rising stops, IMTO.
By the way, those targets hits on the Dow, are not suggestions that once those prices are hit, those stocks are safe, these were not OB's, the safest Dow stocks, in general, are probably those where the hit has been minimal.
Zeev |
