Friday, September 01, 2006
Sector Spotlight: Biotech
So, its been about a week since I put up the "Fly Survey" and, so far, 63% of you are bullish.
Contrarian indicator?
We will see over the next few weeks.
Today, the market looks good. Albeit, the "junior traders" are manning the multi-billion dollar trading desks-- foolishly bidding up prices. Nonetheless, I think the market is poised to go higher.
One sector that I avoid like the plague, but has been steadily trending higher, is the biotech's. Generally, I do not invest in biotech because of the ridiculous, Vegas- style, risk associated with having to get drugs approved by the FDA. However, I know an uptrend when I see one. So, I will focus a little time on re-educating myself on the sector.
The following biotech stocks are showing some mojo:
SVA +6.2%
CELG +3.4%
VRTX +2.8%
YMI +2.3%
IVGN +1.8%
AMLN +1.8%
BIIB +1.3%
AOB +1.3%
OSIP +1.1%
ICOS +1%
AMGN +1%
ONXX +1%
NOTE: Many energy related stocks are up today, despite weakening of the underlying commodities. I would take this opportunity to sell. I feel the sector could get cheaper.
Contrarian indicator?
We will see over the next few weeks.
Today, the market looks good. Albeit, the "junior traders" are manning the multi-billion dollar trading desks-- foolishly bidding up prices. Nonetheless, I think the market is poised to go higher.
One sector that I avoid like the plague, but has been steadily trending higher, is the biotech's. Generally, I do not invest in biotech because of the ridiculous, Vegas- style, risk associated with having to get drugs approved by the FDA. However, I know an uptrend when I see one. So, I will focus a little time on re-educating myself on the sector.
The following biotech stocks are showing some mojo:
SVA +6.2%
CELG +3.4%
VRTX +2.8%
YMI +2.3%
IVGN +1.8%
AMLN +1.8%
BIIB +1.3%
AOB +1.3%
OSIP +1.1%
ICOS +1%
AMGN +1%
ONXX +1%
NOTE: Many energy related stocks are up today, despite weakening of the underlying commodities. I would take this opportunity to sell. I feel the sector could get cheaper.
Comments:
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how does amgn rank on your seasonality screen for september? What do you like better amgn or dna? thankx
This rally smells like a bull trap. Despite this nonsense rally, the Sox is weak but Intel is up. Do you think INTC (one of the most hated stocks on Wall Street) has a chance to move up? There's a bunch of call-leaps that are dirt cheap.
The survey at Ticker Sense had the majority of bloggers vote this week as a bullish week. That's the first time that survey was majority bullish (and they got it right).
The survey at Ticker Sense had the majority of bloggers vote this week as a bullish week. That's the first time that survey was majority bullish (and they got it right).
Gio-
Be careful not to get sucked into the bear camp.
Until we see solid breakdown, I feel the market can go higher.
Despite all the negativity, the market has managed to hold its own this year.
Be careful not to get sucked into the bear camp.
Until we see solid breakdown, I feel the market can go higher.
Despite all the negativity, the market has managed to hold its own this year.
I voted "bullish", but I'm thinking this day/week's rally on low volume will provide a better buying opportunity next week. That's what would normally happen, but I could be wrong since next week is not a normal week... Fall trading officially heats up.
When do you see the market taking out May's highs?
When do you see the market taking out May's highs?
Why go with one when you can buy the set in an ETF - there are a mess of them, several started just this year. PBE, XBI, IBB or FBT - aside from starting price they all look the same to me.
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