My Take on the Drug Business on 4/20

As for the market, the Nasdaq has filled its gap back up to Friday's gap own, which means we have come roundtrip with lots of activity but not much accomplished the last two sessions.

It is not all rosy, though, as individual issues like MNKD in biotech land remain weak, and the recent hot plays like BLUE JUNO are getting hit. 

NFLX is pausing a bit after its recent surge, but it is nothing too dramatic. 

And HAL and some energy plays are working off overbought conditions from last week quite well, so far, as crude strengthens. 

We have a few interesting long ideas setting up if the market cooperates, discussed on my private Twitter feed this morning. Keep an eye Morgan Stanley at this $37 level the rest of the week--It is a big one for that stock after earnings.