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12:00 AM
Sep 07, 2015
 |  BioCentury  |  Finance

Battered, but bullish

Why biotech might maintain its premium during a market correction

Biotech stocks have fallen faster than the general markets since their July 20 peaks, but at least one buysider and a technical analyst don't think the sector is in danger of losing the premium it built up during a three-year run. The reason is that when investors buy on weakness, their first stop is still biotech.

Piper Jaffray technical analyst Craig Johnson pointed to Aug. 21 as a signal biotech won't be abdicating its market leadership. That day saw the markets post their biggest point drop in more than four years.

The Dow Jones Industrial Average shed 530.94 points (3%) and the NASDAQ fell 171.45 points (4%)....

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