[1]Somewhere Janet Yellen is smiling a "told you so" grin as she watches the "stretched valuations" of the Biotech index get slashed. Biotechs are now down 22% from the highs - officially a bear market - and just broke the crucial 200-day moving average for the first time in 10 months...
[4]
Still a long way to go for Yellen to be in the money... But what goes up must come down...
[5]
Nope - no bubble here.
The machines don't care though...
[6]
Charts: Bloomberg
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Links:
[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/taxonomy_vtn/term/9835
[3] http://www.zerohedge.com/taxonomy_vtn/term/9483
[4] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/08-overflow/20150821_Biotech.jpg
[5] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/08-overflow/20150821_Biotech1_0.jpg
[6] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2015/08-overflow/20150821_Biotech2.jpg
