Doesn't matter who is right or wrong
at this moment in time--biotech is
getting absolutely beaten up this past
week, and again today. Look at SNAP,
off another sixteen percent after being
down ten percent nearly each day for
the last few days, and now my GENXY--
trading down another seven bucks to $32,
and why--they raised a little cash and
sold some stock to Abbott, is that not
a good thing?
Horrible. This seems like more than a
shakeout to me, a bloodbath. We can come
back in a year and decide which biotechs
were the ones to own, but today, nobody
cares where they will be in a month, much
less a year or two from now. They want out
and will sell out at any price. Brutal.
Feels a lot like the last time I got stopped
out, except this time there is a baby in a
snuggly between me and they keyboard, makes
it harder to enter the orders!
So, anybody have the courage not to watch the
quotes for a week, a month, a year? |
