DJ; RE:" AMGN and BTK.X "
>What do you think of amgen ?
yeah - I saw that, too. AMGN's got some tasty weekly candlesticks; had a little morning star last week WED-THU-FRI.
The AMEX:BTK.X Index has been really weak, DJ - it's not so go-go as DRG.X at all. Here are the components, listed by their importance :
AMEX:BTK.X
AMGN +17% YTD
CHIR + 3%
BGEN +12%
CNTO +15%
GENZ +15%
IMNX +35%
GILD + 5%
VRTX -15%
PDLI -14%
ORG +115%
CORR - 7%
CEPH +19%
IMNR +19%
LIPO - 1%
CPRO +42%
...about 10 sessions ago, BTK.X stopped falling and started to go sideways. A few of 'em, CHIR, GENZ, GILD continued to atrophy; but they're around support levels now. And a couple of 'em went nuts - ORG, IMNR - on some news/drug approval, etc.
AMGN hauls the freight in this sector. The BTK.X Index is at 170~175 right now. I 'invested' 3% of my capital portfolio into BTKAP, JAN99 180 LEAPS this week.
VRTX has the most el toro daily candlesticks - a pair of doji hammers around just under 32; like many of these components, it exhibits a kind of double-bottom right now. But VRTX is not the srongest on the weekly charts.
For options plays, I'll pick CNTO - it's at 39-3/8, just under 40 strike; has a double-bottom on the daily chart, and the weekly chart shows it at the bottom of its UpTrend channel right now. IF BTK.X moves upwards, CNTO will be in-the-money very quickly.
Ask TraderBerney to run us an F/A scan on this sector, DJ.
-Steve |
