2Q Financial Markets Preview: Wanted Dry Powder

Biotech run-ups have historically cooled after 25-30% gains. Thus the question going into the second quarter is whether there's momentum to keep going, or whether the sector will take a breather.

The historical numbers are pretty clear: when the NASDAQ Biotechnology Index (NBI) nears a 30% uptick, it starts to fall again, with only a couple of exceptions in the last decade...