Well, I dared to fade a little NVLS at $31.4, but don't intend to hold for long, thinking I saw a triple top on the NAZ 5 minute, and besides, it's lunch time in NYC. And might go long when I cover; that sure would have been smart this morning.
Thanks for your thoughts on QCOM. Seasonal mentality on certain stocks does seem to me they resist calls to reduce on valuation. Also noting MRVL, but think that one could have more steam due to possible inclusion in some index or other -- the S&P 500? -- due for rebalancing soon.
I would be tempted to play MLNM on market weakness that tests lows. Overall, I think reaction to Velcade results is a bit too negative, even though it is possible good news was being priced in before ASH. We might want to watch MDCO, maker of AngioMax, and see if they make any comments about taking share in Integrilin's market. Integrilin is the near term driver for MLNM.
Cheers, Tuck |
