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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum
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To: Jenna who wrote (759)1/6/2001 8:15:15 PM
From: t2  Read Replies (1) of 6445
 
Notice how the biotechs are screaming down after hours on Friday. I have closed a second put position in IDPH but keep the BBH. PDLI is also down. It seems that interest in this sector is ebbing and wanning and will continue to do so.

Would people consider it a bubble. If the Nasdaq stays flat to down, I would expect biotech to tank in a big way. They are mostly future stories and the market does not care for that right now. IDPH is one I was eyeing for puts or shorting. I have a small put position in BBHs.

I feel optical is a great story and will continue to grow but even those stocks are getting hammered. In the financial markets, optical and biotech are just 2 sectors that may or may not be overvalued.

I am considering buying both calls and puts on the sector and just play it for volatility. There is shorting already going on in the sector and short covering rallies can be explosive especially when many of these companies have small floats.
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