What Happened to Biotech on December 28?
by xiexgp | February 25, 2013 10:03 am
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 ?
Source URL: https://www.stockgumshoe.com/2013/02/microblog-what-happened-to-biotech-on-december-28/
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.
Key difference between Foreign exchange graphes on TradingView as well as forex charts on other sites is the new innovation used.