A few weeks ago, I wrote a post about the “Biotech Premiums“ that resulted from the MEDI/AZN deal and cautioned that when the momentum slowed down, it could get painful. Today’s DNDN whacking is indicative of what can happen with biotechs when there is any negativity. But Dendreon’s current problems aren’t just an isolated event. Last week, I saw a lot of weakness in the industry group and I just took another peak at the charts and HEDGEfolios signals. Putting it mildly, there is some serious discounting going on in the more speculative names. In the past two weeks, I have given 59 signal changes in the Biotech group - 51 of them are new DOWN signals. If you have a position in these names, I would be paying a lot of attention to them.