Recently we have been in some biotechs that have had some serious moves to the upside. We had Dendreon (DNDN) and Human Geome (HGSI). Arguably, we sold both too soon, but the profits were too hard to pass up!
Two new stocks that we have bought in this sector are Cell Theraputics (CTIC) and Hemispherx Biopharma (HEB). CTIC, which is working on Cancer traetments, has been all over the ticker tape for weeks now. It is in a trading range right now, but is right on its 50 day moving average line.
HEB is having a strong day today and is bumping up against the top of its Bollinger Bands. It is also well above its 50 day moving average. The stock is currently at $2.92 (up 17% on the day) and has a recent high of just over $4.50 a share.
Another stock we own is Wuxi Pharmatech (WX) which has had a good run recently (from about $4 in March) to a recent high of about $10. Wuxi is benefiting from the rise in the Chinese stock market .
I'm not sure why this sector is on the move. The spectacular rises in DNDN and HGSI were driven by company specific news, but other stocks in the sector are moving up as well. Do your homework on this sector, it is a highly risky, news-driven sector, but it is working for us right now.
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