Whew, a lot on your mind today Cheryl.
I think the market is pretty manic, the
speed with which money rotated out of biotech
over the past week, and the speed with which
the DOW recovered in just the last couple
trading sessions, is nothing less then astonishing.
And maybe it should be a little frightening.
I think when story stocks come back into vogue
(and I would not be surprised if this happened
before the end of the quarter) you will see very
sharp moves up in selected biotechs again.
I'm not too sure what the future for the genomics
subsector will be--that was a particularly vicious
shake out, a lot of money went up in smoke. I had
imagined that a Celera might end up going out and
shopping for my Genset, but I don't see it happening
now. I still have hope that Abbott might take out
Genset, but some temporary damage was done by those
fellas in Washington.
It is a little too late to bemoan the correction,
think of what we might have done better. I sure hope
my individual stocks can do some good things, dazzle
the markets again. I think we will be just fine in
Tgen, it is the sort of slow, methodical company
that seems likely to deliver, if not for CF, for E1A.
I am a bit bummed out because I was out there shopping
for the old economy value stocks, even bought some,
plus moved into pharma, but I was bored to tears and
put it right back into biotech...and about a week too
early. Crying over spilled milk though, and I don't
think anybody is feeling sorry for biotechies, who,
unless they came awfully late or were unluckly, should
all have triple digit gains still for the year.
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