Pharma looks fugly on a relative basisBreaking down through support, this is what kept me out of trading PFE to the long-side even though it looked bullish. With the elections coming up and democrats leading the polls, I'd stay away from pharma and insurers. Lean towards medical devices if you need healthcare exposure.
PJP trade ideas
PJP Pharmaceuticals at SupportI was trying to figure out why SUPN tanked after solid earnings, looks like the market tanked the whole sector. Sucks when a moeny making company gets grouped in with a bunch of speculative biotech firms, but it is what it is.
Looks to be either an inverted head and shoulder or an upright one. EIither way we should see a bounce here.