Purchase Tastylia Online No Prescription A double top in the biotechnology sector could be developing although many mid and small cap stocks are in the green. We are still at or near the October highs in the sector but the seasonality effect is waning (strong November -January performance). Moreover many of the top performers in 2012 are owned by all the ETFs and top life science mutual funds. Note also that many of these stocks were flat since the JPMorgan Conference except Celgene (CELG) which was under-owned and is now up over 20% since January 7.
Small and mid-cap stocks continue to rally -they are weak today.
A 10% correction from 2013 highs in momentum driven 2012 winners and larger caps due to profit taking and re-balancing.
Stocks to watch for profit taking: Alexion (ALXN), Biogen (BIIB), Medivation (MDVN), Pharmacyclics (PCYC), and Regeneron (REGN).
Buy Gilead (GILD) and Vertex (VRTX) on weakness.