Dude. The IBB index has dropped from its all time peak of 400 (last July) to today's close of 248, which is a 38% drop, most of which has been in the past 5 weeks. The IBB gained in 2009 and did not have a major drop, but a few minor ones and always recovered nicely. There was a 29% drop in the IBB from the beginning of July 2008 to the end of October of that year. What specific index is the one you cite that lost about 50% in 15 days in 2009. While the IBB could still give back more of its incredible gains from 2011 through 2015, I believe most of the damage is done. But not investing into bios until there are signs that sentiment for the sector has turned bullish, or at least not so bearish. This means I'll miss the bottom, but that's okay unless it's a V bottom like the overall stock market's bottom in March 2009. This bottom for bios will likely be U shaped. -- Fish
If 57 stands for born in 1957 then you are within months of my age. I am curious to know how you decide when to sell. How / where do you get your info? Do you subscribe to any letters?
I have not got beyond the buy and hold and clearly that has not worked for me for sometime now. I was lucky to get in SGEN at an average of $25 but more than 1/2 the profit has evaporated.
as SGEN hits a 3 year low. No reason why we don't get to 8. Baker Bros. will be forced to liquidate several positions. Anyone that thinks otherwise is delusional. The biotech index has lost 25% in 5 weeks. Sounds like a lot but in 2009 it lost around 50% in 15 days. As interest rates go negative around the world, it is clear that the Feds of the world will not be able to stop the slide this time.
Everyone who kept chasing this for the last month has lost money. No more is it all about Bio Tech stocks; when banks are all at 52 week lows something is terribly wrong. When CAT-BOEING-ALL OIL SECTORS are laying off thousands of workers and the market continues it's 200 a day point slide-It does not look good. Buy some dips but be extremely careful.
PFE is a good pick - have been accumulating. Nice div and multiple efficiencies with Allergan that will allow cuts (to redundant jobs and their tax bill). But putting a few nickles on quality smaller names like SGEN can pay off as well. Sure a neg EPS...they are plowing revenues back into R+D like any growing company. And I have certainly traded in and out of SGEN - you just have be willing to pick up on the downswings.
I bought and sold PFE Friday but will buy again on another dip. Bio is in trouble and Baker's own plenty of it. Even the new IPO's are correcting some. I would buy on daily dips and get out before the close. So glad I got out of SGEN for good. I would be down 15K on my last buy price instead of day trading this for profits all last year. I got pummeled on this message board but I have been trading stocks longer than some of you are old. This is the 4th correction since 1987 and I have lost nothing; sold U S bank when it was over 100 and framed a house, windows and roof. Always take profits and keep moving on to the next scam because someone always loses in the stock. Which slot machine is going to pay off? Are you going to win or is the house? Take a look at all those lights and fancy buildings with free flowing booze and I think you have answered that question. Good luck Boyshadow. I do like PFE especially with the Allergan connection.
Bakers hedged there losses with free shares and unloaded enough to breakeven. Do yhey pick winners yes.do they lose there but rarely.
I dont think you can deterimne when and why they buy . sgen i havent been in for a while but i am going yo take my shares of bxlt and swap that for sgen. Rwminds me of 2014 when sgen fell from high 40s down to twenties . you knew price would go north of 35 then and i would say the price target is 37 in 6 months. Rouhjly 20% imo
New bio tech IPO's are a must to keep this scam going. Too many go bust and then large holders of the stock must move on after selling out. They run up the next one and repeat. This has been going on for years. More went broke than are currently trading. Play the game but take your profits.
I do agree that PFE is undervalued now, especially with the 4% + div. and the merger savings in the billions. I own PFE and SGEN as my biggest investments as of today.
SGEN price/volume action in the last 15 minutes tell me that we are at the bottom for this one too.
This has been going on in the oil and gas segment for years. They're a dime a dozen especially in Texas. It's almost as bad as the corrupt china stock scams where everyone lost millions. Trading stocks is at your own risk so no one is held accountable as we all witnessed in the mortgage meltdown. We eagerly give cash to those who are only interested in their own agendas. Happy trading; and remember "always take your profits". You can always re-enter at a lower price and do it all again. Older and wiser than the punks.