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FWIW, biotech held up very well in the recent selloff. And fundamentally it’s probably the most solid sector, with the data available (through the end of 2016). Biotech has been one of the engines of the broad market.
“fundamentally it’s probably the most solid sector”…aging America..of course.
Definitely the speculative driver of this bull.It is showing bubble characteristics though with 75% of IPO’s having no earnings.
Sound famailar? Hint! 2000 dot com bubble.
Bill Gross suddenly looks 10 years older. The good old days of PIMCO are gone. At his age (and wealth!), he really doesn’t have to do this any more.
I was wrong in thinking to cost average down. I did the math in Excel yesterday, and was very surprised to see how lame it was. Better to wait for a bottom.
That said, looking at the monthly chart, a break above this month’s high of 1204.70 would be bullish, no?
… and $SILVER looks like it’s about to make a swing low and head higher. Just using my cro-magnon brain and calling what I see.
… and GDX looks like it’s making a wedge, ready to pop up.
wedges usually break in the direction of the greater trend….in this case down
whoa – you sure? thanks for the heads up
It’s very different in calculating the biotech valuation. And the sector has the best fundamental of all, through the end of 2016. IPOs are not included in the sector, they are not even included in the broad index. I personally don’t think it’s in a bubble, but I could be wrong, just like everyone of us.