G'Day Doc. You raise a valid question but I do believe that biotech is being particularly savaged. You have only to look at the new handy dandy asx biotech index (K3520) to see that there was a significant low around the 11th of Nov last year. That low was finally penetrated on the 18th of Feb after some tooing and froing. The index has now moved decisively lower and seemed to be making a new bottom. I suspect that after today that will no longer look like a bottom.
You have only to look at the treatment meted out to Metabolic after the best possible announcement last week. It is now teetering on the absolute bottom of the support range. I did think there would be a retrracement after the announcement because it will be now be some time before the next trials even begin, but I did expect it to hold 70 cents...
