Will tank the stock for sure then....all the deadbeat analysts need to come out with
strong sells and negative revisions and recs. CELG will go thru the roof.
Sell! SELL! Forget about the earnings. It's all about emotions. Right now emotions are in panic mode. People are selling BIG!!! Dump all you shares now. It's a nose dive to the bottom.
Every time somebody says this I laugh. Can you guess how many times I've played an oversold bounce on CELG in the past two years? This one is actually even a better opportunity than the last one because earnings are already out.
Nothing to cause this. AMGN beat top and bottom line. GILD missed both. CELG had decent earnings yesterday. This in the world of stock market investors is known as oversold.
Last week of May through Mid July is the strongest part of the year for biotech. That is when all the conferences are. Does that hold up this year due to the politics? Your guess is as good as mine. I think it does, but you might see more pullback and consolidation for the next 2 weeks. I plan to sit tight unless we go back below $100 to do some good buying.
I said it going into earnings that Q1 earnings are always very weak do to the charge backs and rebates. You throw in a strong dollar and turmoil in Latin America and you end up with a "Blah" earnings period for biotech. I took my profits off ahead of earnings. I am now ready to buy the pull back.
FB and AMZN must be doing something right as the street believes what they are saying ...not so much for cel-turd management.
you are correct you can make the case either way . How many companies are forecasting that they are going to double their revenue in two years. Amazon? FB? how the pe compares. the BIo tech sector is on the penalty box for political reason and if the world is coming to an end you are correct. In summary your traditional view is supported by what is happening but that is looking backward.
Be greedy when people like you are fearful. People like Buffet have the track record.
Cramer called for biotech rally, but sector earnings are not meeting high expectations. Plus, the overall general stock market seems to be topping (IMHO).