I don’t care how many cures for cancer there are in development. Nothing warrants this sort of run in biotech, with the sector now up 31% for the year. More than 15 biotechs are up double digits today, led by gains in JUNO, KITE and FOLD. Looking at the sector makes you want to go out and pick the next one, laggards. For example, AGIO was down for the year, until today. KITE and BLCM were lagging, not anymore.
I took this overzealousness to blow out of my NRDM position, a position that I managed to turn a 30% loss into a 20% profit through sheer hard headed averaging down. I got lucky and now I am hitting the bricks.
I will keep the other medicine man stocks in my portfolios because they are real companies, with real drugs, heading higher. SGEN, ICPT and JAZZ are my largest biotech holdings. GILD and AMGN are my largest drug holdings and quit calling them fucking biotechs. Their market caps are upwards of $100 billion. Sure, I’d love to grab one today and sell out with a 30% profit tomorrow. But The PPT Exodus hybrid chart is at the very top end of the range, a prelude of some selling to come.
One day this sector is going to blow up and kill a bunch of people. Don’t think it can’t happen to you–because it can and it will.
With some of the NRDM proceeds, I added to BABA and MUSA.
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Thank you for your recommendation to start a new, leveraged position in IBB. Will do now.
No offense but….. you just figure this out? You also have to know that when the bubble bursts even the JAZZ GILD of this world will go too. Pull up monthly charts of $MRK $GSK $BMY old man drug cos. 30 years ago we thought they would find the cure for cancer too.
ONLY 3 ELLIPSES!!!
Don’t be naive. 31% moves in two months is excessive.
Jazz and gild will not fall nearly as hard as money losing biotechs
Yep. Curing cancer is bullshit. Buy hamburger company stocks!
I’ve been sitting on XBI for about a year because I didn’t know what to buy. Laziness and indecision have served me well here.
Repeat Dec. Feb. 13-14
All of a sudden Qs started regurgitating?
I have guesses but i believe a lot of (pomo/fed/other) programming directly intended/causing
GILD, as compared to AMGN, BIIB, RGEN, and JAZZ, to name a few, is fairly undervalued. In my opinion, it looks like one of the most attractive GARP stocks out there.
Agreed
Fly – any thoughts on XON at this point? Part of the bubble or the real deal?