Maybe after we get this Super Tuesday BS behind us we can get past some of the political rhetoric that's been a dark cloud over the sector. It has created some awesome buying opportunities however.
actually i take that back $155 is the 200 sma. shouldn't take too much to get there. maybe a good drug trial. i read they are working on 9 biosimilars.
This is not amgn specific. this is a bear attack on biotech. checkout BIIB, GILD, IBB, BIB, XLV, ^BTK, etc. ETF's and big co's all getting slammed. Hopefully this is the bottom and won't have to test Sept. lows in which case another $10 drop to $130. Someone wants these share cheaper. Maybe ahead of window dressing for 2nd Q who knows.
i'd think they'd have a heluva time keeping the biotechs down given the dow and s&p performance today but this activity never ceases to amaze me. still waiting for my biib to breakout. amgn has been struggling but well off its low @144. just a very manipulated sector this biotech
I like BIIB when it drops to low 250's. I think it wants to make the run back above 300 but the ETF association is hurting all of these stocks. The negative publicity from the likes of companies such as VRX wasn't helpful.
Looked back at the chart and the biggest volume selloff day was the day Merck got FDA approval for a competitive Hep C drug. Volume was huge that day. So I'm thinking competitive fears having taken precedence over the political rhetoric. I am hopeful we will see some confidence reinstated when they present at Cowen next week. I am having similar problems however with AMGN and to some extent in BIIB. All of these biotechs are on Cowen's agenda next week so we will see. Again we are facing options expiration today and that 88 pin has been something to reckon with. I strongly believe options manipulation is also a definite factor.
Production is down. Manufacturing is down. The jobs being created are menial thus no wage growth. The media is already touting fear of rate hike on the strong jobs report. Pure horsepuckey. IMO the bears have been in charge too long and aren't going to throw in the reins easily.
I never know which side of the coin to take.
Frustrating as hell to be a shareholder here. Dwindles down every day even when the market is rallying. I am hopeful we will see a decent jobs # tomorrow that perhaps push the S&P 500 back above 2000. Maybe we can catch a break! lol
Agree. They definitely need someone who is more transparent and responds to shareholders' concerns. I've emailed them before and have never received a response. Even Apple shareholder relations has answered my emails in the past. Isn't that part of the job?
i actually emailed IR @ Apple suggesting they do this. They could certainly use some positive PR.
Saw today that Google is donating some moolah to help fund Zika research.
I personally know someone in Virginia diagnosed with HepC who is being denied coverage for treatment. She was told that she wasn't quite sick enough! This was through her individual insurance carrier. Yet I know a Medicaid participant who was given treatment of Harvoni in Maine without question. I would think it would make more sense to treat before the disease escalated. Insurance companies with their ridiculously high Obamacare premiums are playing God.
We are #3 actually: ...he United States has the third highest general top marginal corporate income tax rate in the world at 39 percent, which is the same as Puerto Rico and is exceeded only by Chad and the United Arab Emirates.
The worldwide average top corporate income tax rate (accounting for 173 countries and tax jurisdictions) is 22.9 percent, 29.8 percent weighted by GDP.
This was cited in a 2015 tally! 39% is astonishing my friend!!!