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Strategies & Market Trends : Dave Gore's Trades That Make Sense
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To: Dave Gore who wrote (379)1/4/2002 11:37:46 AM
From: Dave Gore  Read Replies (1) of 16631
 
11:25 ET Sector Watch: Biotech : Has been a drag on the market the entire week with today's list of losers led by MEDI -4.5%, MLNM -4%, VRTX -4%, CORR -3.9%, DNA -3.5% and HGSI -3.1%. Thus far the BTK index is holding near the 38% retrace of the Sep/Dec rally (543) with its 200 day simple ma at 539. The Biotech HOLDRs (BBH at 125) is attempting to recover off its 200 day ma at 123.8.

Folks, now is the time to look for bargains. Buying right is key and if this sector holds support, there may be a nice rotation of money back here. MLNM is one name although riskier than KG, PFE, MDT, and others, of course. It was recently at 35, now 22-23.
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