zerohedge.com / by Tyler Durden / 03/21/2014 10:43 -0400
Having
been among the best performing sectors of the stock market for so long
(up around 70% alone last year), the moves of the last few days – and
especially today – are extremely worrying for the ‘trend-is-your-friend’
momo-following fickle investing public. The Nasdaq Biotech index is getting monkey-hammered this morning and is now 10% off its late-Feb highs. Crucially, this sector has been a major pillar of strength for the overall Nasdaq and that means the Nasdaq is also getting crushed – now down 0.9% from the FOMC and dramatically underperforming.
The Nasdaq Biotech index is plunging today and down 10% from Feb highs…
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Having
been among the best performing sectors of the stock market for so long
(up around 70% alone last year), the moves of the last few days – and
especially today – are extremely worrying for the ‘trend-is-your-friend’
momo-following fickle investing public. The Nasdaq Biotech index is getting monkey-hammered this morning and is now 10% off its late-Feb highs. Crucially, this sector has been a major pillar of strength for the overall Nasdaq and that means the Nasdaq is also getting crushed – now down 0.9% from the FOMC and dramatically underperforming.The Nasdaq Biotech index is plunging today and down 10% from Feb highs…
READ MORE
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