We are almost running out of things to say…almost.
A quick glance shows the NYSE where is was 10 months ago…the TRANSPORTS where they were 6 months ago…the S&P 4 months ago…with the better action in the NASDAQ,NDX and for a change, the small caps. It just remains a very split tape with not much changing.
The media is finally coming around to our thoughts on BIOTECH! http://www.wsj.com/articles/biotechs-rally-fuels-bubble-fears-1427237279
We simply believe the 2nd biggest bubble is in this area. #1 is reserved for the rigged and manipulated bond markets around the globe. But even this article did not mention where the bubble is in biotech and that’s in the “no sales” IPOs that have come public and continue to come public. Any announcement sends these companies higher whether it is phase 1 trials. We do not think the music has stopped yet and may not stop for a while…but stay tuned.