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Strategies & Market Trends : The Thread

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To: stan s. who started this subject	5/28/2001 7:46:45 AM
From: blackmerlin	of 49816

The Biotech Short-Term Trend - "Weekly BioRollerCoaster: After posting strong gains in the previous week, biotechnology stocks continued their ascent on Monday 5-21-01 with the AMEX Biotechnology Index (BTK) soaring 6.2% for the session. Positive news for the day included a description of various promising experimental cancer treatments published in Barron's along with several upgrades issued by analysts for various biotech companies. On Tuesday, biotech stocks held onto recent gains with the BTK closing up 0.2%. However, on Wednesday 5-23-01, the BTK dropped 6.1% as biotech stocks in general followed the downward path of the Nasdaq Composite Index for that session. On Thursday, the BTK gained 4.2%. Good news that day from biotech companies included encouraging results reported for a psoriasis treatment in clinical trials, and for an experimental drug for the treatment of Crohn's disease. On Friday 5-25-01, biotechnology stocks in general held onto most of the previous session's gain with the BTK closing off 1%. The BTK closed the week ending 5-25-01 with a respectable gain of 3.09% for the week, while the BioBizNet Select Index (BBNSI) closed up 3.54%." For more commentary and individual stocks, please see biobiznet.com

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