Wednesday, November 12, 2014

BNN and the Health Sciences Selections:

Last night on BNN’s Market Call I stated that the current bull market in most of the major stock indices is now well into the fifth year – or about 2035 days. The average length of modern bulls (5 since 1974) is about 2460 days (thanks Ned Davis) – so the current bull is quite old in terms of time. So - we are likely in the early stages of a topping phase which could take several months to complete. Some the early technical signals are the gradual thinning of market breadth as seen in the cumulative NYSE advance / decline line and the cumulative NYSE new 52-week Hi /Lo line

All tops are different and I suspect this one will see money – over the next several months - chase the smaller speculative sectors which as jr. metal miners (uranium & copper) and the smaller biotech / health sciences stocks. I promised to post a list of TSX listed bio & health stocks with a caveat – they are risky – some will be big winners and some will be big losers – so buy a small basket – do your homework and better still get advice from an industry professional. Also BNN in no way support or recommend these names – the opinions are mine only. The last time I created a basket of bio & health stocks was August 2013   the big winner was Tekmira Pharmaceuticals Corp TKM  up 293.2% and the big loser was Acasti Pharma Inc. APO down -74.0%

PS – other names – not displayed - with strong money flow numbers are Cardiome (COM), CRH Medical (CRH) and Microbix (MBX)

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