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Dr. Fly
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This Market is Being Led Into Drugs

Dr. Fly Mon May 9, 2016 3:17pm EST 2 Comments

The broader indices are looking better. Breadth is still anemic, at around 56%. The sole standout sector is biotech, higher by 3% for the day.

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Some of the stocks within the sector are really jumping higher, many by double digits.

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Why?

Random stuff. There was a weakness within the sector on Friday. Other than that, the biotech sector is up because there are more buyers than sellers. It is the quintessential risk sector, one that could ignore the superficialities of earnings and revenues. To buy a biotech is to buy a lotto ticket and a dream.

We have a whole ‘lota dreamers out there today.

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2 comments

  1. probucks
    probucks
    May 9, 2016 at 3:28 pm

    volume in IBB is suuuppperr low though

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  2. roundwego
    roundwego
    May 9, 2016 at 3:56 pm

    chris rock is a genius

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