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Biotechs Battered For 7th Straight Day - Longest Losing Streak In 7 Years

Tyler Durden's picture




 

Not since October 2008 (cough post-Lehman cough), has The Nasdaq Biotech index dropped for 7 straight days. The 18% close-to-close drop in the last 7 days is the largest since Lehman.

Click chart for massive legible version...

 

This is a 19% drop in 7 days...

 

h/t @RanSqauwk

 

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Mon, 09/28/2015 - 10:52 | 6601764 NoDebt
NoDebt's picture

This is kinda fun to watch when you're not personally suffering the pain.

Mon, 09/28/2015 - 10:53 | 6601766 KnuckleDragger-X
KnuckleDragger-X's picture

Biotech just isn't very shiny anymore and their bond exposure is about as bad as the oil patch. I get the feeling we'll get to find out how many sectors the PPT can prop up at once......

Mon, 09/28/2015 - 10:53 | 6601767 Dr. Engali
Dr. Engali's picture

Janet, you neglected to tell us your price target. How much moar downside can I count on? 

Mon, 09/28/2015 - 10:57 | 6601785 NoDebt
NoDebt's picture

That's so true it's not even funny.

Mon, 09/28/2015 - 10:54 | 6601774 Sanity Bear
Sanity Bear's picture

"since Lehman"

nep nep nep nep nep

Mon, 09/28/2015 - 10:55 | 6601778 prudent1nvestor
prudent1nvestor's picture

I wonder how many put options Martin Shkreli is sitting on... the timing is uncanny.

Mon, 09/28/2015 - 10:56 | 6601780 NoDebt
NoDebt's picture

I could sell the Biotech industry a pill that would make this pain stop for a while.  It only costs $2,000,000 per pill.

Mon, 09/28/2015 - 11:35 | 6601952 Sanity Bear
Sanity Bear's picture

... for now

 

also it's more addictive than heroin

Mon, 09/28/2015 - 11:00 | 6601798 Grandad Grumps
Grandad Grumps's picture

It is also interesting to see that the dirty spying trio of GOOG, LNKD and FB are getting spanked on fairly low volume the day after JP Morgan recommended them.

It is not just biotech.

Overpriced stocks are easy to buy. It is also apprently easy to create fake churned volume. However, if you ever want to exit one of the overpriced dirty hogs with large volumes of shares, that is a more difficult proposition.

Mon, 09/28/2015 - 11:28 | 6601917 all-priced-in
all-priced-in's picture

Is telling investors to suck a dick and swallow considered a "biotech" solution?

 

 

 

 

Mon, 09/28/2015 - 23:51 | 6605336 Charming Anarchist
Charming Anarchist's picture

Quick! Apply for a patent.

Mon, 09/28/2015 - 11:32 | 6601933 Goldbugger
Goldbugger's picture

See what Hilary started.

Mon, 09/28/2015 - 11:32 | 6601936 hustler etiquette
hustler etiquette's picture

Is Martin Shkreli now a bilionaire? He likely shorted biotechs

Mon, 09/28/2015 - 13:02 | 6602363 Nobody For President
Nobody For President's picture

cough, cough indeed - can I get you something for that?

Tue, 09/29/2015 - 02:15 | 6605515 slvrizgold
slvrizgold's picture

Colloidal silver and cannabis, and you'll barely ever need the Sickcare system again!

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