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When banking analysts start putting out these don't panic reports, it might mean one or more of:
1. They want the market to stabilize while their investment arm unwinds their positions. 2. They need to stop the bleeding because of all the clients their advisort arm brought to the party late. 3. They have some big biotech clients that are concerned about their stock price eroding with rest of industry.
Public service, they ain't.
Biotech is still testing its resistance and might go either way. As I posted yesterday, too late to sell now. Am waiting to get back in when it turns around which should happen at these levels or further down of another 10%.
Comments
1. They want the market to stabilize while their investment arm unwinds their positions.
2. They need to stop the bleeding because of all the clients their advisort arm brought to the party late.
3. They have some big biotech clients that are concerned about their stock price eroding with rest of industry.
Public service, they ain't.
Biotech is still testing its resistance and might go either way. As I posted yesterday, too late to sell now. Am waiting to get back in when it turns around which should happen at these levels or further down of another 10%.
Regards,
Ted
How Do I Stop Being Cynical ?