. >> in my opinion, you get worried about ivb, if it breaks p 00, that's where it broke out and should hold. i'm not suggesting it does, but i agree with pete. we're in a quarter with this stuff. amg amgen's valuation is stupid cheap. starting to see upgrades in celgene, rightly so. gilead seems to have their mojo back >> going to take the other side because when you look at the chart, you can make the case for a head and shoulder pattern. i'm long in a different space. long valiant but if you look at this chart, if you believe in rotation going to the back half of the year, ivb is up 20% year to date this is a space in etf that will suffer if that rotation happens. >> i think you have to wait for it to hit 300. that's the break up point. that should be your support point. if this is going to go back to the races and you want to buy the dip, why not wait 15 points and see what the reaction is there. >> still ahead, the hottest stock in the tech sector this year just reported earnings after the bell looks like the stock is starting to cool off. we'll tell you the name and what's behind

as we made a new high in xlk ivb continues to lag with even with the huge boost i like to go with the momentum the trend is your friend until it ends. as we head over here, just to kind of put this gld in perspective, this gets perspective. we kind of have a ski jump little pattern here. i think the large the tech cap continues to be the place you want to hang in so, as we move in, let's look at the few of the large cap techs. what's interesting, if you can kind of look at these two goog's in orange and amazon is in white. significantly hanging on to the lower end of the shelf and yesterday, what happened against that lower support was interesting. it was an outside rever tall so what happened was i think monday was like this tuesday, we opened down on obviously news, we finished the day outside the range of the prior day. that's what we called outside reversal that occurred down into the lower support. amazon anding are starting to come back. trz if you want to stick with the trend, take a look at what's trying to push highs i can see facebook and apple trueing to push. i have positi

outperformer because that speculation is sort of embedded in i still like xpi longer term over the ivbt for takeout speculation. >> options traders are getting bullish here on the back of the deal let's check in with brian with the options action brian. >> the stock moving huk here they traded for 220. they were out there grabbing any calls over 1200. 42.5 calls traded, so people going in there buying calls, selling puts, bullish. it seems like the deal puts a price tag on what se scepter therapy is and that means that celgene may have to increase their stake there to get into the game at least in support a group like juno, who doesn't have any other drugs in the pipeline besides the t cell research going on looks like it's going to come to fruition it's a fantastic technology. i worked on it 20 years ago. this is a home run here and these stocks are poised to move higher >> wow didn't know that >> didn't see that coming. >> brian doing the options action little bio medical action happening, too more, full show friday 5:30 eastern time up next, retail's major route. those stocks tracki