Simple Trading Top Hedge Fund Biotech Holdings

Jon Ogg over at 24/7 Wall Street took a look at the recently published Goldman Sachs Hedge Fund Trend Monitor and noticed the prevalence of biotech names in the top holdings.  I tend to stick to my own knitting (i.e. scans) for trading candidates, but some of these charts looked pretty good… especially for large caps.

PCYC — Nice break from $160, but stretched here I think.

PCYC W As of 22 May 2015 Close

 

GILD — looks ready to make a run.  The “change your mind” point is $85.

GILD W As of 22 May 2015 Close

 

REGN — already started to make its run… Like any high dollar value stock, support looks to be a fortune away around $430.00.

REGN W As of 22 May 2015 Close

 

AMGN — looks prepared to stage an assault on the highs.  Use the uptrend line as support… $156.00 looks good.

AMGN W As of 22 May 2015

 

CELG — Also looks set to resolve to the upside.  $107 is a good floor.

CELG W As of 22 May 2015

Obviously, no matter how good the opportunity looks, exercise prudent risk control/management (i.e., use stops and appropriate position sizing).

Hope it helps.

KIS,

The Trader