Biotechs don't have a friend in sight


iShares NASDAQ Biotech Index (IBB -5.8%) continues its down trend today on a 50% spike in volume. The index has lost 20% of its value since its February 25 high of $275.40.

The index is now perched above the key support level of its 200-day moving average.

If this week's decline holds it will mark the seventh straight on high volume.

ETFs: XBI, BIB, BBH, FBT, PBE, BIS

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Comments (15)
  • Archman Investor
    , contributor
    Comments (3318) | Send Message
     
    It's called unwinding of speculation from an ETF that essentially traded in the $100 range for a decade.

     

    Like that guy Cramer always says: "There's always a bull market somewhere".

     

    There was one. And now it's over.

     

    Back to $100 range for another decade.
    10 Apr 2014, 03:12 PM Reply Like
  • heywally
    , contributor
    Comments (249) | Send Message
     
    Well, we have a gentleman's bet on that one - not happening, as that was before these companies were making money and had their research flying.
    10 Apr 2014, 03:15 PM Reply Like
  • Archman Investor
    , contributor
    Comments (3318) | Send Message
     
    Sounds great! Tough to put a time frame on it though I still think $100 on IBB is doable by years end or early next year.

     

    Perhaps a bet for a steak at your favorite steakhouse?
    10 Apr 2014, 03:19 PM Reply Like
  • ceristeare
    , contributor
    Comments (1105) | Send Message
     
    Was such a general statement even worth typing? First learn what a 'range' is at mathisfun.com
    10 Apr 2014, 04:19 PM Reply Like
  • ceristeare
    , contributor
    Comments (1105) | Send Message
     
    OK I see you bet a steak not much to lose. Forgiven is the gd bs, onto a real discussion now.
    10 Apr 2014, 06:15 PM Reply Like
  • heywally
    , contributor
    Comments (249) | Send Message
     
    $100 on IBB would freak me out a bit, Archman. I'm mainly a veg head but let's make it a virtual Italian meal somewhere .......
    10 Apr 2014, 03:23 PM Reply Like
  • Archman Investor
    , contributor
    Comments (3318) | Send Message
     
    You got it.

     

    All good. I wish the best for all investors though I think IBB has seen its day in the sun. I'm thinking a possible bounce at some point for a bit, to fool folks into thinking it's still game on before the final sell down to the previous $100 trading range.

     

    Best to you.
    10 Apr 2014, 03:26 PM Reply Like
  • banerjeesudip
    , contributor
    Comments (30) | Send Message
     
    IBB $100 is not happening if traders have brains. Old days of $100 was driven by the MRK/PFE/JNJ group. Today, profitable companies like CELG/GILD/ALXN are in the mix with ground-breaking medicine. The FDA has become much smarter - approving promising drugs at a much quicker pace than the last decade.
    11 Apr 2014, 04:57 AM Reply Like
  • 8747S1115R
    , contributor
    Comments (265) | Send Message
     
    Get out of IBB and buy CLDX. Why waste your money buying into an entire sector where 2 out of 10 companies who get FDA approval actually recoup the cost of research. This whole downturn in biotech has led to great buying opportunities in companies like CLDX and QCOR and im sure there are others. The ETF being sold off forces managers of this fund to sell specific stocks even if their prospects are still great. Leading to opportunities for you and me to buy our favorite stocks that will be successful at a great price.
    10 Apr 2014, 04:22 PM Reply Like
  • ceristeare
    , contributor
    Comments (1105) | Send Message
     
    Never did own IBB or anything in it. It always looked too expensive.
    10 Apr 2014, 04:34 PM Reply Like
  • terrychauvin
    , contributor
    Comments (23) | Send Message
     
    As mention by Steven. QCOR is a great example of undervalued in an overvalued sector even with the pop from the merger. Obviously there is nothing cyclical in BIO so PEG is a safe and sound metric to weed through all the momentum. Yes, I completely agree with Steven, the sectors momentum may be over but there is some great value for long term growth with huge upside that really are not that hard to find.
    10 Apr 2014, 05:07 PM Reply Like
  • IC2
    , contributor
    Comments (28) | Send Message
     
    Big slump!!! I freaken lost 40% of my money and from Big names like $ACAD
    11 Apr 2014, 02:27 AM Reply Like
  • pagreen1966
    , contributor
    Comments (661) | Send Message
     
    (ACAD) had risen 10 fold in the last couple of years. Was due for a pull-back.
    11 Apr 2014, 03:38 AM Reply Like
  • james337
    , contributor
    Comment (1) | Send Message
     
    hey how about INSY
    12 Apr 2014, 08:09 PM Reply Like
  • toosmarttofail
    , contributor
    Comments (699) | Send Message
     
    It's SELL-o-Tech.
    14 Apr 2014, 02:26 PM Reply Like
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