Biotech Boom

• May 24, 2001
• Duke Heberlein

Keep an eye on the various sectors and industry groups when combing through
the multitude of stocks for potential setups. Since the latter part of March the
Biotech Index
(
BTK.X |
Quote |
Chart |
News |
PowerRating) has been in the midst of a roaring bull
market.

 

 

The BTK.X has been rising higher out of pullbacks since the
March low/Lizard. Is this another pullback or the end of the action to the
upside? I (as well as everyone else) can speculate, but no one knows for
certain. What I do know is that I am going to anticipate in the direction of the
probable price action until proven otherwise, since the nature of price movement
is to: thrust, pause, and pivot back in the direction of the underlying trend.

Keeping that in mind, several biotech issues are in similar
trends and are setting up in pullbacks, making them worthy of tracking over the
next few days. Some of these have been profiled this morning in the Insights
From The War Room.

 

 

 

 

 

Until tomorrow,

Duke