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Biotech / Medical : Biotech Valuation
CRSP 53.54-3.1%Nov 18 3:59 PM EST

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To: OldAIMGuy who wrote (10146)1/26/2004 4:47:56 PM
From: Biomaven  Read Replies (3) of 52153
 
Tom,

Well it wasn't much of a pause, particularly in the more speculative stocks. Take a look at the Charity portfolios - plenty up 20% and more since the beginning of the year.

I guess I'm growing more cautious on the market overall, though. There's this weird drop in broad measurements of money supply the last few months - in the past this has often foretold weakness in the equity markets.

The other thing to watch is the supply of new equity offerings into the biotech market - both IPOs and follow-on offerings. One indicator to focus on is whether you see weakness or strength after a follow-on offering is priced.

Peter
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