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What Happened To Biotech Funds Yesterday ? Answer Gilead Sciences !
Biotech is behaving like a retail venture capital fund because of barbell return characteristics of the products.
Technically, this is still within the 4-6% expected pull back from the last high as I had posted earlier and so not yet a concern. IBB should find support around 255 IF it declines further and could be a buying opportunity. My recommendation earlier was a stop limit about 7% from the highs which is about 252 for IBB.
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Technically, this is still within the 4-6% expected pull back from the last high as I had posted earlier and so not yet a concern. IBB should find support around 255 IF it declines further and could be a buying opportunity. My recommendation earlier was a stop limit about 7% from the highs which is about 252 for IBB.