Watching the MA(5)d and the MA(200)d vs the close.
Interesting to note that $LGND saw a big pop in price and volume at about the same time that $VRTX did. And soon there after, $GILD started to sell off.
To us, this is further evidence of that old foolish HCV pair trade (long $GILD, short $LGND & VRTX). Our read is that some of the PM weakness in $LGND and relative strength in $GILD is also due to the pair, but now being re added with more short $LGND rather than $VRTX.
The next report should be confirmation, but we wouldn't be surprised to see DTC well over 10 days for $LGND. If / when we get positive news on epog, the squeeze should rocket pps to a new 52wk high.