IBB

More Market Nothingness and Biotech Has Me Cautious

This maddening sideways chop continues and the best “risk on” sector, biotech, looks heavy and tired.  The leaders in this space are heavy, AMGN has a bearish head and shoulder pattern going on and CELG and BIIB just cant stop stepping on their feet. GILD acts the best of the big four biotechs.  The other biggie, REGN, continues to hang […]

A Recent Testimonial from an ElliottWavePredictions.com Subscriber

I just had to share the following testimonial, received yesterday from one of my Weekly “Counts” Webinar subscribers:—“Sid,I wanted to thank you for the incredible research and analysis that you provide by giving you a brief history on me and how my account is exploding to the upside since I started following you and attending your webinars.After the economic meltdown […]

A Biotech Bottom?

By Ben LevisohnIt’s been a bad, bad week for biotech stocks. The iShares Nasdaq Biotech Index ETF (IBB) had dropped 9.3% this week through Thursday’s close, while Amgen (AMGN), Biogen Idec (BIIB), and Celgene (CELG) also suffered big losses. Evercore ISI’s Mark Schoenebaum notes that the valuations of big biotech companies is trading below that of the S&P 500 for only the […]

Investors Are Jumping off the Biotech Bandwagon – Here’s What to Do Now

Wait– is that the sound of that famous biotech bubble finally popping?Can’t say, dude. But biotechs are definitely losing steam these days, and the worst could be yet to come. Today, I’ll show you exactly what to do about it…We took profits on our big biotech trade earlier this month, booking double-digit gains on Biotech iShares (NASDAQ:IBB). IBB thundered nearly […]

There Go the Biotechs

By Ben LevisohnIt’s that time of the year, when biotech stocks are tumbling–Amgen (AMGN), Celgene (CELG) and Biogen Idec (BIIB) are all down about 3%–and investors looking at the iShares NASDAQ Biotechnology ETF (IBB) and wondering if this is the end of the sector’s astounding run.
Bloomberg News
The answer: Who knows? There’s certainly little in the way of news that would cause […]

Biotech Has Found a Home

Some biotech stocks are puking all over themselves and others act like drunks walking in traffic.  The IBB has found a home at its 50 day moving average which coincides with its daily uptrend line.This is a huge spot for support and if it breaks lower it could do a quick cascade to the 100 moving average which is down […]

When The Stock Market “Generals” Are Sold Into Quarter-End …

By Jeff Cooper at Minyanville.comMany leading glamours and generals took gas yesterday as the SPX erased the lion’s share of Monday’s big spike. It’s been a bear market in follow through, nothing new about that.But Tuesday’s selloff had the whiff of liquidation. The selling in biotech generals like Celgene (CELG)  and Amgen (AMGN), which had recently set new highs, leaves […]

A Buyback or Biotech Bubble?

Steven Davidoff Solomon, professor of law at the University of California, Berkeley, wrote a comment for the New York Times reports, General Motors’ Stock Buyback Follows a Worrying Trend:
General Motors’ announcement that it will buy back $5 billion worth of stock raises the question of whether the stock buyback has turned into a shareholder activist shakedown.G.M. did not open its […]

Biotech’s Busted — Here’s What To Do Now…

Hear that hissing noise?That’s the air coming out of the stock market.Here’s what’s happening and what to do about it…U.S. stocks are plummeting supposedly because Saudi Arabia launched airstrikes against Yemen, which has retaliated by lobbing missiles into Saudi Arabia. Saudi Arabia, you know, where all the oil is.In the Middle East the Saudi market took a 5% hit yesterday. […]

Biotech Bulls Trampled As Momentum Stalls

Last summer, Federal Reserve Chair Janet Yellen said valuations in certain corners of the stock market like biotech were getting “substantially stretched,” and traders have gotten a good laugh at her warning ever since as the stocks resumed their winning ways and raced higher. But given the recent battering of the biotech stocks, the caution recommended by the central bank […]