The Chart of the Day from two weeks ago illustrated which sectors have performed best since the June 2014 peak in crude oil prices. Today’s chart presents the long-term trend of the best performing sector on the aforementioned chart — the biotechnology sector (i.e. iShares Nasdaq Biotechnology — IBB). As today’s chart illustrates, biotech stocks began to rally in early 2009 as the financial crisis induced bear market concluded. Then in August 2011 the rally in biotech stocks picked up and has traded within the confines of a relatively steep upward sloping trend channel ever since. In fact, IBB is up over 240% since its 2011 lows — quite a healthy return for a 40 month timeframe.
Quote of the Day
“There is a tendency for things to right themselves.” – Ralph Waldo Emerson
Events of the Day
December 21, 2014 – First day of Winter (Northern Hemisphere)
December 25, 2014 – Christmas Day
December 26, 2014 – Kwanzaa (1st day)
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