Arguing with PRICE is an expensive endeavor. Of course, it is not infallible, but it is what we are judged upon, and how we are paid. Almost always one will be humbled by it, if one fails to listen to the message it is saying. It is not crystal clear as we know the markets try to confound the most. And presently that is best described by the biotechs. In the last one month period, it has bobbed above and below its 200 day SMA, as stops were taken out and volatile trade frustrated the masses. The once titans in the group have lost that status, with REGN down more than one-quarter of its value as it battles with the very round 500 number. AMGN was hit to the tune of 7% Wednesday, after failing to follow through much after the break above a cup with handle pivot of 256.70 on 4/20. SGEN and NBIX are now in the 30% neighborhood off their most recent 52-week highs. Is the sentiment in the group washed out enough to start looking at some of the names that were the firmest during the groups darkest moments in the February-March drawdown? I think so.