Pulled back a bit today. Biotech buoyed probably by the outcome of yesterday’s VVUS Ad Comm meeting. VVUS shot up and opened up ~100% this morning. Possibly a little bit too much excitement! Ad Comm meetings are a killer when their negative but when they are positive things are less certain.
CHTP also had a positive Ad Comm outcome (this afternoon). It was up 75% in after-hours trading.
I started a position in HZNP this morning ar $3.41. I have been watching it for a few days as it fell towards its 52-week low. Looks like it has put in a double-bottom and might start to see some strength now as investors start to look towards its PDUFA in July.
I will be watching my old friends IRWD and AMRN for a re-entry tomorrow. Also thinking about AFFY.