Biotech Ready To Run
It was a mixed week for biotechnology and pharmaceutical companies as Wall Street took a deep breath and reassessed the health care sector. Upside breakouts were dominated by small caps while the number of weekly losers was fairly limited compared with weeks past. The American Stock Exchange Pharmaceutical Index (DRG) snapped a two-week winning streak with a tiny weekly loss 0.04%. The Nasdaq Biotechnology Index (NBI) gained 1.5% and is up 11% from its October lows.