Reasons For The Short:
1. Biotech sector in a bubble with cracks emerging.
2. Gildead Sciences is up 100% in the last year with no significant pull backs.
3. The valuation is unstustainable for Gilead Sciences in the near term.
4. The stock has not been able to push through the technically important $85.00 level.
Overall, this sector has been an area where money has continued to flow. The music appears like it is coming to a stop. Gilead should have a pull back to $76.00 then $65.00.
Get our detailed entry/exits and live calls as we enter swing trading positions in the Research Center.