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Thursday, June 7, 2001: Overall market
weakness expected. Sell with buy stop. With this
sector up over 10% in the last week or so, our
signals have been getting more and more bearish,
now encompassing 75% of the biotech stocks we
track. As with semiconductors, prices here have
encountered a resistance range and are likely to
start down shortly. There is a slight chance
they could continue higher, though (less likely
than semis), and if the sector is able to push
ahead more than 5-7% more, it will have cleared
the way for more upside.
Friday, June 1, 2001: Overall market
buy. Buy coming. We only have bullish signals on
about half of the stocks we track in this
sector, but we have bullish signals on the
overall index, which is creating a new support
level. We believe that a buy is likely in the
near future, though the sector may start up
early in conjunction with the rest of the market
upmove.
· July
2001
· May
2001
· April
2001
· March
2001
· February
2001
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