Trends from early trading show promise for intermediate support in larger cap biotech shares today with the NASDAQ up 0.5% in early trading. This could be a good day for covering shorts and re-balancing in anticipation for a Q4 rally :
The IBB (130.82) is up 1.88%. The XBI is up 2.37%.
MO stocks are up: ALXN, MDVN, REGN,
The Rayno Biopharma Focus stocks are all green.
Illumina (ILMN) is up 2.47%. We reiterated buy yesterday.
Sequenom (SQNM 3.56) is big winner up 17% on their Q3 Report with Revenues up 25% over prior year.
AAPL ($544) which coincided with the MO stock sell-off in biotech in mid-October is up 1.3%.