I replaced that position with a long JNJ. I indeed believe that JNJ will profit from a bounce in the sector. JNJ published earnings and announced a new acquisition that will do much good to the company's future.
Of course, if Trump tweets again about drugs being overpriced, then the all sector will fall.
The trade ideas for today are below. Nothing really interesting. Both CRM and VRSK have only a very low probability to reach the entry price.
I post below the TSS and CRM EV patterns. The TSS trade broke, although I believe that earnings were good and growth acceptable. TSS looked good before earnings, but then it broke down.
CRM looks good on a long-term accumulation.
If this trade also fails, then I am convinced that we are at a market top.