Caution on biotechs and energy

follow link Biotech stocks were unusually weak today with many mid-caps down 3-4%. High flier CBST was down even more due to an Oppenheimer downgrade. The ELN lawsuit against Biogen regarding the Tysabri deal with JNJ didn’t help matters. More analysis to follow as this is a travel day.
Energy stocks were also on the weak side and momentum traders should step aside.

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