The biotech group appears to be cooling off into year end, as last week ended a 12 week winning streak, which was accompanied by solid volume. A bearish shooting star was recorded last week near the influential, very round par number (the length of the 2.6% intraweek reversal was not too significant). More concerning was the level which it occurred at, 100 is often at least a temporary roadblock on its own, which was resistance dating back a year and a half. Investors would most likely relish a pullback toward the double bottom pattern breakout that was taken out the week ending 11/29 that rose more than 6% in above average weekly trade. Of course the market never gives us what we want, so as always one needs to be prepared for any scenario. A move above the very round par number could be substantial. Former “giants” AMGN and BIIB ended 2019 with strong Q4’s. CELG was taken out the first week of 2019, can one of the aforementioned two do announce a blockbuster deal? If any suitor had a large appetite, one would just have to look at BMY, as this year dragged on as it was first hammered, but ended on a high note.