Only one trade to report this morning and that is in Alexion Pharmaceuticals (ALXN) at $93.47. I tried to get in to Varian Medical Systems as another short play, but my limit order was missed by $0.02! That happens from time to time.
Overall, the market is selling off after Wall Street got its hands on a not-so-great housing report. Negative breadth looks solid for the bears, but interestingly enought, the VIX is barely in the green.
Here’s my chart analysis on the ALXN Trade Setup.
