Saturday, April 08, 2006

Back From Vacation

I’m back from a mini vacation and I’m a bit out of synch as to what has happened to the market over the past few days. The biotechs continued to get trashed big time. I’m not sure what the reason is for this move, but this sell off in the biotechs is way overdone. I’m just not willing to catch a falling knife just yet, but Genentech (Ticker: DNA) reports on Tuesday and this could be the catalyst for the group. In the mean time, if you want exposure to the group I would buy the Dynamic Biotech and Genome Powershares (Ticker: PBE).

The only positive move in my portfolio was Apple (Ticker: AAPL). I’m up ~ 10% in ~ 1 week. Hmm… one last short term trade, ok? I may take my profits in Apple. We’ll see on Monday.


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