IBB Long hanky sell off IMO

22 Mar 2014

IBB closed below lower BBs for only the 5th time in the last couple years Friday on some pretty "janky" headlines if you ask me about Henry A. Waxman (D-Beverly Hills) wants Gilead Sciences Inc. to explain why it priced its new hepatitis C drug, Sovaldi, at $1,000 a pill. Considering nobody asked any questions about the targeted oncology drugs are even more and give people a whole 6-18 weeks efficacy over placebo in a rather miserable existance - seems odd to me the mouse man cares about a relatively effective Hep C drug that more or less cures people. Sometimes sectors that have experienced huge runs by any means necessary sell off but this is some mark ass stuff. Long.