I hope they all have great earning (not just good earning). It can move their stock a lot higher or lower. Let's pray ....
AMGN earning 4/22 Tuesday After Market Close
Biogen earning 4/23 Wednesday Before Market Open
Alexion Pharmaceuticals 4/24 Before Market Open
Gilead Sciences Inc. 4/22 After Market Close
Celgene Corp 4/24 Before Market Open
I loaded up biotech ETF last 2 days. Let's hope they have good earning. It is corrected enough, investors need some good news before jumping in.
Because a software company like Google has much less risk and higher profit margin than a hardware company like Apple. It is like comparing Microsoft vs Apple.
Last Friday, DOW and NASDAQ dropped to 16000 and 4000 support level. Yesterday stock rallied in morning then dropped almost to 16000 and 4000 level. The long pushed it back up to save the day. Today, the pattern is repeating. Let's see if the long or bear win. The long knows that more drop will come if it breaks the support level of 16000 and 4000.
It is not an easy decision to sell stock within mutual fund. If selling too much stock at a time, it pushes down the stock price, and it get the mutual fund price lower. So it is dropping stone on its own foot. But in some situation when there will be a prolonged recession or correction, then selling stock within the fund will be done in timely manner. When you see a fund selling, it could also be its own cash can no longer satisfy the redemption by the customers. To maintain the cash and stock ratio, fund manager has no choice but sell quickly With high speed trading, their computer can buy and sell thousands of stock within second (no human decision), anything crazy can happen..... The flash crash last time is one good example. This market is highly manipulated now and SEC/FBI/Congress knew and do nothing about it.
I hope it is related to distribution. I see big big drops on some sector funds !!
Select Wireless Portfolio -12.50%
Select Automotive Portfolio -9.91%
Select Technology Portfolio -9.70%
Select Industrial Equipment Portfolio -9.59%
Select Consumer Finance Portfolio -7.38%
Select Health Care Portfolio -7.31%
It is scary !!
One of the big reason is short selling by hedge funds and panic selling by retail. Big short sellers borrowed a lot of shares from institution and sell them all. It pushed down all stocks so they can make a nice profit. In this country, the rich people get richer.
The billions did not vanish. The short sellers took them all. I still can't understand why the law allows for short selling. Big institutions have so many cheap shares, they are happy to lend them out for a commission and make nice interest profit from the short sellers' margin accounts.. Short selling is another tool created by Wall Street and it turns the market into a casino.
Hi Ben21i21, are you still waiting to buy back at lowest level ? If you think it will take a decade, then you should come back to this fund in 2024. You should not waste your time to check this fund almost everyday.
You can always buy mutual fund in your normal brokerage account. Min. is $2500 for first buy, then invest any amount after that at any time. There is a 30 days hold after first buy, or you will be charged a fee if selling before 30th day. I got a bunch of mutual funds today in my IRA account today. Like stock trading, entrance price is very important. And we don't know if we are out of the wood yet. So don't put both feet into them yet. I am prepare to invest more if it drops more (hope not). Or you can buy ETF like IBB and it has no min. amount to buy, it had less drop and more raise than this fund recently.... Someone said IBB has 120 biotech stocks in it !
Not to put cold water to your head. If you look at this fund between 2000 and 2002, it lost about 50% of the value over two and half year. So it was a slow process to reach the bottom. I don't know the history at that time, I hope it won't happen again..... We will see.