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Bursting Biotech Bubble Bounce Fades Fourth Day In A Row

Tyler Durden's picture




 

It's deja vu all over again in Biotech bubble land. For the 4th day in a row, and opening salvo of hope-fueled buying has faded quickly into a sea of red-faced selling as The Nasdaq Biotech Index holds down 13% from the highs at is 100-day-moving-average. Will 4th time be the charm for the revival of the bubble? or is today the break?

 

 

Charts: Bloomberg

 

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Wed, 03/26/2014 - 11:41 | 4593955 skwid vacuous
skwid vacuous's picture

but Cramer said biotech is a no brainer...?

Wed, 03/26/2014 - 11:41 | 4593960 playnstocks
playnstocks's picture

and Cramer is always right!

Wed, 03/26/2014 - 11:51 | 4594015 666
666's picture

It's probably because biotech companies finally realized that any product developments and potential profits are for naught due to ObummerCare not covering anything.

Wed, 03/26/2014 - 12:17 | 4594129 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Most biotech companies are developing technologies that do not work or serve no purpose. It is another version of Wall St. shoveling money to their cronie buddies keeping them in a job. Shame old shit, another sector.

Wed, 03/26/2014 - 12:51 | 4594266 Jack Napier
Jack Napier's picture

'No brainer' is what you would have to be to buy the stock.

Wed, 03/26/2014 - 11:45 | 4593979 Dr. Engali
Dr. Engali's picture

Are you sure that he didn't say "Cramer is a no brainer"? 

Wed, 03/26/2014 - 11:47 | 4593995 playnstocks
playnstocks's picture

That's good, i gave you an up vote for that.

Wed, 03/26/2014 - 11:52 | 4594020 skwid vacuous
skwid vacuous's picture

good one Doc, it's amazing how one man can know so little about so much

Wed, 03/26/2014 - 11:41 | 4593958 Quinvarius
Quinvarius's picture

Looking at a 5 year chart of that index, it has a long way to go down.

Wed, 03/26/2014 - 11:42 | 4593968 q99x2
q99x2's picture

All that means is that the FED's software is wasting fiat electrons buying up the biohazards as the Elite dump shares into the FED's toxic asset black hole.

Wed, 03/26/2014 - 11:48 | 4594002 101 years and c...
101 years and counting's picture

the entire "market" is topping.  i think "the top" was 1884.  bulls keep battling a losing battle as big boys continue to distribute.  wont be long now....

Wed, 03/26/2014 - 11:56 | 4594036 skwid vacuous
skwid vacuous's picture

HPQ $33... lol! I had to short some there, just to participate in the nut squeezing insanity...

Wed, 03/26/2014 - 11:50 | 4594009 NDXTrader
NDXTrader's picture

It's becoming pretty apparent that one of the biggies on the Nasdaq is going to warn on earnings (might be a few). The manufactured news we had today would have usually sent us up 50-60 points. Every rally is being sold in tech land

Wed, 03/26/2014 - 11:53 | 4594024 JustObserving
JustObserving's picture

Twitter is falling like a rock on Jupiter - if we tweet that often enough, will it fall like one on Earth?

Wed, 03/26/2014 - 12:02 | 4594060 skwid vacuous
skwid vacuous's picture

I just facebooked about TWTR dropping, then Twatted about FB's $10 haircut...

Wed, 03/26/2014 - 11:55 | 4594033 bubblemania
bubblemania's picture

Bullish!

Wed, 03/26/2014 - 12:13 | 4594113 mtndds
mtndds's picture

jump phuckers, jump!

Wed, 03/26/2014 - 12:16 | 4594127 Spungo
Spungo's picture

Is now a good time to buy the dip?

Wed, 03/26/2014 - 12:24 | 4594159 HaroldWang
HaroldWang's picture

NAZ getting a little dicey here. Three days in a row testing the 50dma. Bounced last two at exactly EU closing time. Will today be a three-peat? Need I even ask??

Wed, 03/26/2014 - 13:32 | 4594434 SheepDog-One
SheepDog-One's picture

Isn't NAZ that scam the guy in prison invented? Sure sounds like a legit place to put your money.

Wed, 03/26/2014 - 12:40 | 4594223 azengrcat
azengrcat's picture

In today's news: Biotech swings +/-50% and water is wet. 

Wed, 03/26/2014 - 13:29 | 4594425 SheepDog-One
SheepDog-One's picture

Which button do I hit to just but moar? Only idiots don't know stawks can never go down again, I'm gonna be so rich!

Wed, 03/26/2014 - 14:55 | 4594906 Itchy and Scratchy
Itchy and Scratchy's picture

Need to get a cure for selling!

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