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Thursday, December 29, 2000:
Overall market weakness expected.
Thursday, December 21, 2000:
Overall market buy. Buy. This sector is
sitting a little more than 5% off it's 6 month
lows (which are at a strong support level). We
do not see huge gains in the
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immediate future in the overall sector and would
particularly stay away from genomics companies
which are still making new 90-day lows (such as
CRA and INCY), however, this area as a whole
should do well in the near term, and there are
opportunities for very quick gains in some of
the lower price stocks (such as GLGC and HYSQ,
also both genomics companies).
Monday, December 11, 2000: Sell
coming. We are looking for a pullback (near
term, at least) in biotechs. We now have bearish
signals on 75% of the stocks we follow,
two-thirds of which we got today. This sector is
up more than 20% since either our initial buy
call on November 21 or our most recent market
buy on the 30th. Many stocks, particularly in
the genomics area, are up nearly 50% or more in
the last week. Between the recent runup and the
fact that the sector is now within about 5-7% of
the resistance area it's been unable to overcome
in recent months.
· November
2000
· October
2000
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September
2000
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August
2000
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July
2000
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