Les, Cheap money will never flow out as long as Alan Greenspan has one more puff to go on his cigarette. <g>
The answer is that the info techs have gotten so high that folks have fled to bios with new cash, which yours truly predicted would happen. O.K., I predicted it two years ago, but it happened, didn't it? <g> The problem I see is that the stocks you are talking about are not sexy, and that, more than business growth, which AMRI has in spades, is what is important to the folks herding the cattle to the slaughterhouse. It could happen, but I wouldn't hold my breath. We've had all kinds of crapola doubling in a week or two and AMRI is near its 52 week low. As is the drug index. Here we have truly great cos. with products that the bios can only dream about. Of course, their 52 week low is still grossly overpriced, but on a relative basis, the dopers look cheaper than the small bios for the first time since The Billary Health Plan fiasco.
BTW, I expect the drug program for seniors will pass this summer and that will kill the bios for awhile, so money could flow out very quickly. |
