CELG (Long)...

It's another tech long, but this time it's a biotech long. I'm usually very gunshy in the biotech sector because headlines come out of nowhere in this sector, so you have to tread very carefully. I'm throwing CELG out there as a long. It's another in that long list of stocks that have reported earnings and is consolidating following breakouts from multi-month bases with powerful, high-volume gap-ups. CELG left behind a big gap and I would not be chasing this one up here. The break above the 200-day EMA is very significant here, as it's been under there for the better part of a year. This is one to keep an eye on, and that's exactly what we'll do.



Position: none