This week, I’m excited to bring you the very first edition of Overtime: Mailtime. As part of the improvements for 2024, I wanted to make sure your voice had a chance to be heard and the questions and charts that were most important to you were covered.
Thank you to everybody who submitted questions. Today we’ll cover those market-related questions as well as any chart requests.
And now, Mailtime!
I would love to hear your thoughts on Biotech, which has been terrible for a while now relative to the S&P, but showed a little sign of life at the end of last year. Wondering if a drop in rates will help fuel the sector?
I like biotech and I especially like it within the healthcare sector, where the top managed care names have continued to struggle. XBI is breaking out of a 2-year base and just a few weeks removed from a 3-month relative high. I view the recent action as a healthy consolidation and expect higher prices in 2024. From a trader’s perspective, I would use the recent lows at $86 as a stop for new positions.