Monday, May 01, 2006

Biotechs Being Dumped

The biotechs continued to be dumped, but I sense the end is near. If you take a look at the PBE (a biotech ETF), you'll see that it's trying to form a bottom. It's tempting to buy here, but I'm already loaded up with biotech stocks. Here's a one year chart of the PBE:

On the other hand, Qiagen's chart is looking good. The weak dollar probably has something to do with it's recent upside move. It will report earnings next week so we'll see if the earnings are good enough to push this one higher. I hope so! It's my second largest holding.


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