Every rallies are to be sold, and despite the euphoria/new highs in S&P and Nasdaq have barely registered a decent retracement in the biotech sector..
Here's a larger picture of how far biotechs have went since 2008:
The uptrend in S&P is limited, and it will only be a matter of time before it collapses off this . However it is also risky to go against Janet Yellen (FED) with unlimited cash in its . A short on a specific sector would be a much safer bet.
I'm long on ZBIO (3x short biotech ) at 22.51, with a target around $30~40.
Pretty speculative still, proceed with caution. I don't see signals of a reversal from the market yet, but simply a high probability trade.
Sit tight and watch it roll now!