IBB is down big today. Maybe the Celgene flop? But
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Posted On: 10/20/2017 1:18:47 PM
IBB is down big today. Maybe the Celgene flop? But odd to see that given the move up in the broad markets today.
Bigger biotechs are often the first to get whacked when market direction is going to change.
(Smaller biotechs are news-driven, as IPIX will be soon.)
Also, they were pumping IBB like crazy on CNBC, which I listen to when I'm driving (radio, not watching TV while driving). That's often a sign that something is about to crater, when Wall Street wants individuals to buy it.
Bigger biotechs are often the first to get whacked when market direction is going to change.
(Smaller biotechs are news-driven, as IPIX will be soon.)
Also, they were pumping IBB like crazy on CNBC, which I listen to when I'm driving (radio, not watching TV while driving). That's often a sign that something is about to crater, when Wall Street wants individuals to buy it.
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