A post from a 'trading' thread gives a list of stocks that have made higher highs and higher lows in May and June:
Message 15919835
Only 3 of the 16 stocks are not biotech:
CY = Cypress Semiconductor
TSEM = Tower Semiconductor
MXIM = Maxim Integrated Products
[I haven't verified the data]
Zeev Hed, a seemingly sharp but mostly technical analysis guru, replies:
Message 15920398
Now you see why I have been saying that the biotech may be much better vehicles over the next few months.
Zeev
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Also:
1) One of the stocks is BBH, which is an exchange traded biotech fund. I think they have dropped a few of their stranger stocks, and are now a fairly good biotech representative. I prefer IBB, which tracks the NBI index, but the biggest problem with both is that they heavily emphasize AMGN and other big caps.
2) I remember that CY, Cypress Semiconductor, was a Gilder pick. It's a pretty mundane chipmaker to be found in anyones "cosm." I suspect that Gilder, who is aggressively right-wing Libertarian, picked it because the CEO, T.J. Rodgers, is outspoken on that subject also.
I hope the new Gilder biotech analyst, Dr. Scott Gottlieb, of the diatribe of many colors:
Message 15918107
was not chosen for ideological reasons.
Not that I don't agree with some of what he says. But I think some wind was taken out of the sails of the "Help, they're drugging our children" movement by the study of ADD, which showed that while one-third of ADD-diagnosed children taking ritalin went on to abuse other substances, two-thirds of the untreated ones did.
I'll try to keep an open mind on Gilder, but he has lost a lot of credibility, and subscribers, with picks like TERN and XLA. Not just the huge crashes, but XLA is not a stock any respectable person would want to be associated with.
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