Yet Another Change for the Chat

I've decided to make the chat a once-a-week thing (every Sunday night for a couple of hours) since I'm A) busy running around Beijing and B) not day trading at the moment. The Sunday night chat should be a good opportunity to review the past week and look forward to the week ahead.

Bullish on Biotech

Having recently bought a lot of Chinese medicine (plus some Erythromycin from Pfizer), I've been thinking about drugs, both old and new. Here's a look at the charts of two biotech heavyweights (Amgen currently has a 23.94% weighting in the Biotech HOLDR and Genentech currently weighs in at 41.21%).

I'm looking forward to the day when AMGN "breaks out" of its nearly six-year-long "consolidation." (I hate bullshit "technical" terms like "breakout" and "consolidation," so I put them in quotes. I should have written: I look forward to the day when AMGN starts going up instead of sideways.) Value Line's 2008-10 Price Projections for AMGN are $85 on the low side and $115 on the high side, and it has their top "Timeliness" rating, fwiw.

DNA, AMGN: Monthly Charts