You seem to be inferrring that - because I am not implying it. Biotech is out of favor so it will sell MORE in a red tape, but it will have periodic oversold bounces. But it will tend to have lower lows while the rest of the market will have higher lows. You need to learn how to read the tape as it will make entry and exits more obvious.
Knowing lots about biotech hasnt helped much with any of the names over the last 2 months - especially MNTA over the last year. Actually you could have bought the biggest piece of bio garbage (lets say HEB for instance) and made money.
Over the next year we'll see a major seperation of the wheat from the chaff but from Jan until Sept you could have made money in just about anything - the junkier the better.
Technically there were a lot of oversold small caps last week - just lots of dead cat bounces, dont fool yourself that they are trading because someone knows something or people really think anything magical is going to happen. Look at ARIA today big up day in the market (atleast it was most of the morning) and it closed on the lows. $2.00 is now support and IMO the "news" is now expected and priced in you should see it sell the news now everyone and their mother expecting "amazing" data. $2.03 then $1.80 are new support levels on any majro selling.
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