Sep
24
Biotech
ByIn an earlier posts I wrote about how the biotech sector would be a good spectulative play for the summer. The sector has done well and is currently at the top of a trading channel. If the market does well and it breaks over the top of its channel line, the sector could run for a bit more. If it turns down, the sector has probably hit its peak. Investors should be cautious with this sector and should consider taking profi ts as we are at the end of its seasonal cycle (September 13th). This is especially true as the sector is just short of resistance @ $56.
