>> Dry powder is good <<
I believe that they had good intent, but we still had people clinging to story stocks (whose stories were sloooooooooow to develop), as the sector was flooded with IPOs. After several years of bliss, biotech investors were giddy and price targets were "healthy". At full employment, with long term rates stubbornly not getting on board. Tax cuts. As the U.S. was trying to disable the world's second largest economy.
Life in the shale fields must be looking shaky? What's going on there, can anyone fill us in, briefly? What do U.S. production margins look like?
I'm a sector timer. I lived off of my winnings, back when I was broke. So I never really had an opportunity to BE a buy and hold guy, before I realized that I could do better AND have a greater feeling of security... getting out when the getting is good is a good thing to get.
:-)
We're (biotech) doing OK today. Not great, but not bad given sentiment, momentum and a bad general market. We've been window dressed, and we've been tax sold. We've been short sold, and declared dead. I started to nibble (apart from buying in the one overweight issue) today. Been watching 77 on xbi, june/july 2017, for some time.
As usual under these circumstances, we can expect some microcap popcorn in the next four weeks. I'll do a little research into (at least) one company this weekend, but believe that a purchase agreement may be outstanding which would encourage selling. So....... might be brief research. Any ideas? Cash healthy, decent if not great science, pummeled. ???? |
