Biotech clouds are not clearing

My note from 1 month ago called for a bounce in biotech prices but re-iterated my view that I still expect prices to ladder their way lower.

In that note, I referenced the iShares Biotech ETF (IBB).

And so, from the day of my note’s release (November 19, 2024), it did commence its climb, eventually rising 7.5% and recovering 50% of the recent decline.

Since then, the IBB ETF has fallen again, erasing those gains and has since making a new ‘lower low’.

And I’m still calling IBB down to the $100 mark. It is $131 today.

December 20, 2024

rob@karriasset.com.au