What Happened to Biotech on December 28?

By xiexgp@gmail.com, February 25, 2013

Would you PLEASE give me your best observations re WHAT was happening wrt to Biotechs LAST Dec 28th ?

Look at ^NDX, Biotech MARKET INDEX,
BIB, a Biotech ETF,
RYOIX, a Biotech Sector Fund

The Stock Charts and Historical Prices bring out the SALIENT POINT:

All THREE hit rock bottom PRECISELY on Dec 28th!

Since ^NDX (the Market Index) was in this group, the implication is: ALL OTHER Biotechs behaved the SAME WAY on Dec 28th!

What was “UNIQUE” about Dec 28th ?

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2 Comments on " What Happened to Biotech on December 28?"

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Travis Johnson, Stock Gumshoe
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Nothing that I’m aware of — you might remember that December 28 was the last real active trading day of the year, and everyone was panicked about the lack of a fiscal cliff deal … and the broader market also bottomed out on December 28. Biotech stocks and medical stocks in general might have also been reacting a bit to chatter back and forth about Obamacare, but I think it was largely that pretty much all stocks hit their recent lows on that day.

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