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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum
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To: Jenna who started this subject2/11/2001 1:16:03 AM
From: blackmerlin   of 6445
 
Weekly BioRollerCoaster: On Monday 2-5-00 Biotechnology stocks continued their descent from the previous week, with the BTK slipping 1% from Friday's close. With Monday's close, biotech stocks had continuously declined for five trading sessions. This trend was reversed on Tuesday with the BTK gaining 4% for the day. However on Wednesday through Friday, biotechnology indices traded slightly down to mixed depending on announcements made for individual stocks. For example, during the week a major DNA chip and gene probe manufacturer reported increased revenues, narrowed loses, and strong demand for its products. On the other hand, concerns were expresses about a possible slowdown in the revenues from the licensing of databases from another company. The BioBizNet Select Index (BBNSI) was down 2.85% for the week. The Amex Biotechnology Index (^BTK on Yahoo, BTK.X on SI) ended the week off 0.39%. For individual stocks see biobiznet.com
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