Somehow I just knew that rat-faced trouble maker Waxman was behind it when the news broke out. Waiting for the other limousine liberals like Chuck Schumer and Bernie Sanders to join the dog and pony show.
Trade with inside info is almost legal with congressman. They can do anything they want. This is why most are millionaires. Forward PE is only 20 with these big biotech firms. There is no bubble as long as their earning can support it. If congress wants to reduce medical research cost, they need to set up subsidy to help and they won't. Every time government involves in private business, it always ended badly. So it is just talking and do nothing. Buy on weakness is what I want to say. If China cooperate over weekend, we should see big recovery on Monday.
Just play the game - you know you're right, so buy when these silly manipulations occur. I bought a ton of IBB today. Why risk picking one or two biotechs after the sector sells off? You can buy the basket and reduce your risk considerably. Play the game - not the emotion.