The Biotech Plunge

Biotech stocks had a massive rally at the start of this year. In fact, biotechs had been outpacing the market for a long time — that is, until last Friday.

The Biotech ETF ($IBB) broke sharply on Friday and the selling continues today.

big.chart03242014

This could be the start in a bear market for “high beta” names. There’s even talk of the new Fab Five — Netflix ($NFLX), Facebook ($FB), Tesla ($TSLA), Priceline ($PCLN) and Google ($GOOG) — all of whom are getting nailed today.

Posted by on March 24th, 2014 at 1:43 pm


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