<< LGND is my only substantial biotech holding at this point. I suggest looking for greener pastures than the biotechs until interest picks up. >>
I'm diversified also, but I've got/had several biotech holdings. I do short term trading on some of my biotechs, including LGND (in the past). Right now, I'm holding LGND longer term.
The Biotech sector is a strange one. I think that the reduction, in government spending, has hurt the biotech sector. But, if President Clinton gets his way, there will be a significant increase in Biotech spending. Perhaps, if it looks like Congress will approve additional funds for biotech, then that could be the catalyst.
Personally, I feel that a significant biotech rally can happen at any time and without any apparent reason.
On the Barry Biotech Barometer, there has been a three week lull in biotechs. It looks to me that we could be seeing somewhat of a biotech rally over the next week or two. It might come after a sharp, short lived drop, across the biotech sector, to chase out the scared money.
Good luck, Bob |
