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- Biotech Boom...Too Many Eyes on Amgen and Old Names
Biotech Boom...Too Many Eyes on Amgen and Old Names
Rich people don’t want to die. That’s money, especially as the have’s separate themselves from the have not’s like never before.
There are too many eyes on Amgen (AMDN) and Genentech (DNA), the ‘bellwethers’ of Biotech. ISRG is the new medical/biotech leader (I hate not owning that). Equipment, pharmacy, lifestyle, skin and beauty trumps drugs in this latest medical/biotech boom.
Even Medtronic (MDT) – which I am eyeing IS ON FIRE. It makes sense for them to open some steka and egg fast food joints to promote their heart stents. Better yet. Fly’s Buffalo Wing (BWLD) chain to put some ooomph in stent sales on location.
In the meantime, I have been quietly adding medical and biotech stocks to the point that I am freaked out. It just sneaks up on you sometimes. I am freaked out because I have never felt fake boobies from Allergan (I have no life), actually I felt Lindsay’s freebies, and have never used any of the products of the stocks I own in this sector (see below).
ADN, ESRX, GPRO, LIFC, AUXL, QDEL, CYNO are all stocks that I am long and have blogged about my entries. Lifecell (LIFC) is the only one NOT to be Wallstripped but I have pushed it in the production loop. The above names are all are acting superb. If the biotech boom is for real, the price action is telling you that you can’t just focus on cancer and heart anymore.
I mean ‘tissue replacement ‘ is on fire people. I will continue to add medical and biotech breakouts until I get smacked… which will definitely happen.
As trend investor Andy Kessler talked about it on Wallstrip a while back – this trend is still early.
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