Bull Market Rolls On And Biotech Sector Hits New All Time Highs

BioBubble with No Trouble?

Another green screen today with the usual suspects running in Rayno Biopharmaceuticals helped by the Bank of America Health Care Conference.

Alexion (ALXN) up 2.86%, Biogen Idec (BIIB) up 3.19%, Gilead (GILD) up 3.27%, Pharmacyclics (PCYC) up 2.5%, and Seattle Genetics (SGEN) up 3.29% etc. etc. etc.

In the bioETF world IBB hit an all time high at $186.18 up 219% over 10 years and XBI as well at $111.18 up 125% over 10 years.

Time to re-read my post of April 4, 2013: Is There No End to the Biotech Bull Market.

Also I read somewhere recently about  “The Golden Age of Biotech” That may be a froth warning. But for now the bull run is intact because biotech is still relatively unknown and inscrutable among most investment professionals.

The biotechs  are up 16% in one month! Channel break alert. And ASCO lies ahead in two weeks.

 

, ,

No comments yet.

Leave a Reply