re: getting punished
AHHHHHH... I guess this is it... the biotech crash we "had to have".
These biotechs were in a down trend for quite a while and around December/January they went or a great run... but I'm blaming developments in Peptech for the change in sentiment.
PTD was a widely held biotech that really caused fear with their JNJ dispute over patents. That fear has spread as many PTD holders probably held other biotechs.
Selling in VCR is accelerating and unless they make some solid announcement we could see it test 2002 lows. i.e. around 50c but in this market the sell off could over do things.
Viva, I agree... when the upturn comes there will be some great buying opportunities. At the moment I'm buying stocks like ALL that have had their crash (well over 50%) but are paying dividends, have a solid cashflow and have PE's less than 9 with growth opportunity.
The time will come to jump into biotechs but perhaps not for even months now.
VCR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
