Enanta Pharmaceuticals Inc (ENTA)

[linhdtu]

I agree with you here
<'m holding more cash right now than I have in years. Have stared a couple new positions but there seems less than the last couple years. Maybe it's me>
My logic is very simple. Enanta and the such biotech values that I gamble on like fgen or clvs etc pretty much depend on the general mkt being healthy.
With the SP being at multi yrs high, I sorta expect some kind of correction, the degree of severity of which I don't know, hence like you I have a very hi % of cash.
Of course I could be wrong and the general mkt will keep climbing and with it biotech values.
There is no doubt in my mind there is currently an over valuation in the IO mkt supported by the general mkt.