Biotechs up nicely this morning despite down market. Nice to see this surprising strength!
Are they oversold?
Well, I was wrong as usual. Biotechs did follow the market surge yesterday up nicely and looks like that will continue. I trade the 3X Biotech index Bull LABU. Hope we can get back into 40's like we were a couple of weeks ago. Now at 29. Good luck!
Dont understand why they don't follow market. They seem to react to risk appetite in market...... But they havent followed on surges?
Yep.... Biotechs seem little affected by market up spikes right now. Guess they are not in favor now.
Expect they will surge in the fall when conferences begin. Agree?