Replies to post #199074 on Biotech Values

[oldberkeley]

Interesting post. Speaking of the entire market, not just biotech, David Kostin of Goldman Sachs says we're going to see meager gains this year. I especially like his line, "Flat is the new up."

[willyw]

My favorite quote from George Soros's favorite TA guy Tom DeMark... "Bottoms are made when sellers stop selling not when buyers start buying". Capitulation requires a washout of sellers accompanied by high volume followed by declining volume on lower prices which is a sign that selling is abating and everyone who was in panic mode to sell has sold...THEN the buyers step in.

I thought I would thank you for this timely quotation.

[biocqr]

IBB > If the 274 horizontal support line doesn't hold... the case could be made for a final low @ 242 which is a long term trendline and 50% retracement from the 2011 lows.

I don't see that happening unless congress and the next pres (Hillary?? Bernie??..yikes!) introduce legislation for drug price controls or some other unforeseen calamity emerges.

We need to close above the upper trendline in the 320 area to resume the uptrend. 341 is key resistance.