Follow Technical Levels -Avoid High Flyers
Five Trends To Watch In Biotech-Preliminary Model
- Large Cap Biopharmaceuticals: metrics already reviewed-awaiting 2013 financial reporting.
- Key Technicals on Market indices: IBB,XBI,PBE, FBIOX, QQQ.
- Mid-Cap Emerging Growth in Immuno-Oncology: Stocks reviewed last quarter.
- Speculative small caps: many already had a melt-down.
- Healthcare Sector Strength Overall. XLV flat YTD.
Major concerns: macro environment, NASDAQ-100 now down 2.35% YTD, reversal of 10 Yr. Treasury to risk-off, excessive bullishness in January 2014 etc. Will institutional buyers support current valuation levels?