The last time we talked, we mentioned how, despite mixed action under the surface, traders were locked in on biotech stocks. There are times when we get these little pockets of momentum, and the can provide some great opportunities, especially when you consider that this sort of hot action can last longer than you think, which is exactly what’s been going on over the past week or so. The key, of course, is remembering that it won’t last forever either. At some point, the bids dry up, and it’s easy to find yourself taking on the role of bag-holder if you’re not disciplined.
Let’s take a look at some charts.
At the time of this post, RevShark had no position in any of the stocks mentioned.