While the rest of the market is well off its highs, the biotech sector (IBB) made a new all time high just yesterday.
The problem is, it’s a reversal. Price action opened sharply higher and then closed lower on heavy volume.
It’s taken nearly five years for biotech to push past highs of July 2015; Not a roaring bull market
As the current medical delusion fades into some other delusion, focus on biotech may fade as well; Look-out-below when insanity returns to reality
Could it be at this juncture, going short the biotech sector is the least risk trade?