Want To Get A Double Out Of A Single? Here’s How…
When a major stock in a sector
is in the news, the entire sector becomes a play, and this is made easier if
that sector has an exchange-traded fund (ETF). Today, Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) guided
higher than consensus estimates for FY ’02 and ’03. Both Amgen and the Biotech
HOLDRs traded higher on the news.
The following was posted in TradersWire this morning:
Sector Update
The Biotech Holders (BBH)
are strong today, as AMGN guided higher and said they would increase supply
of an arthritis drug. Right now BBH is in a pullback from highs, at 89.08.
Trading the HOLDRs rather
than the individual stock offers diversification — and a little less risk. In
this case, AMGN made a nice move as well. The real point here is, when you see a
stock moving, check the sector it belongs to — you’ll get a move there too.
See you tomorrow,
Brice