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Biotech Wreck Pending (video)

This video covers the biotech sector starting with an overview of PBE (PowerShares Dynamic Biotech Portfolio ETF) and IBB (iShares Nasdaq Biotechnology Index Fund ETF), both of which are very close to triggering major sell signals. In the coming months, my expectation is for a drop of at least 20% in the biotech sector with many individual biotech stocks poised for substantially deeper corrections. As of now, the sector (as represented by these two ETFs) has fallen to & remains on major uptrend lines so we have yet to trigger a major sell signal in the sector. However, as discussed in this video, the charts indicate that a breakdown and bear market in the biotechs is likely to occur soon.

Following the overview of those biotechnology sector ETFs and my preferred shorting proxy for the sector, LABU (3x Biotech Bull ETF), several of the leading biotech companies along with some of the more promising short candidates in the sector are covered, including suggested entry points and price targets.

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Jul 30, 2015 1:31pm|Categories: Equity Market Analysis|Tags: , , , , , , , , , , , , |Comments Off on Biotech Wreck Pending (video)