The IBB ($226) remains steady in the $225 range in quiet trading through the holiday period. The XBI ($130.69) shows a similar trend near its 52 week high. Fidelity Select Biotech Fund (FBIOX ) is at its one year high of $182.50. As 2014 unfolds we will follow key trends in the biotechnology sector anticipating a late January correction after being up 60% in 2014. But funds are flush with cash and investors keep pouring into life science stocks so momentum is likely to continue near term.
Key Trend #1 ETFS and Funds
Our first benchmark is major indices and funds. These are the drivers and also hold the “FAB Five” large cap stocks which are the leaders: AMGN, BBII, CELG, GILD, REGN.
We will add key trends as the year progresses. The next trend to monitor will be performance of widely held mid-caps with market value in the ~$10B+ range.