Back on July 8, 2002 we published a subscriber-only article entitled Biotech Bottom. It was not the usual bearish fare that Sandspring.com has perhaps become known for. Instead, we suggested an imminent low was at hand in the Biotech Index.

Although the rest of July's overall market weakness made us almost immediately uncomfortable with this article, and a few of the individual stocks featured in that article still traded lower, looking back at the chart above, it is interesting that our July 8th timing pretty much nailed the low on the Biotech Index itself.

At this time, for anyone still involved in the Biotech sector, it is time to say goodbye. One more nasty new low in this Index is now suggested by the Fibonacci chart rhythm shown above.

Non-subscribers are invited to access our April 27th article, "Ugliness Coming," together with other past articles, by signing up for a quarterly Sandspring.com subscription below.

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