Steve Strazza and I hosted another Flow Show today on Stock Market TV and discussed opportunities in the Biotech space.
Starting at an index level, we see that biotechs are clearing a base and appear set on breaking out:
From there, we started diving into some individual biotech names to play the breakout, but many of the charts offered unique challenges that made it tricky to pick one to take the most advantage or the sector breakout.
So when that happens, sometimes the best move is simply to buy the index!
And that’s what we’re going to do here, using the sector ETF $XBI as a vehicle for expressing our bet.
Here’s the Play: [Read more…]