RE:RE:RE:RE:iShares Nasdaq Biotechnology (IBB)argentia77 wrote: I think IBB still has a way to go before it bottoms out somewhere near 150. i.e. it might very well fall by the same per cent (40%) as OIL ETF has dropped since the collapse of oil prices in 2015. Why would it follow OIL? Because in the big picture, the whole world economy will be infected by the collapse of oil prices. If CXR follows then it could see a bottom somewhere around $30-32. Another (Q4) round of quantitive easing would probably give the markets a temporary boost. Not happy times.
That is so far below the 1000 day average it just doesn't make sense in the context of more than 10 years of the IBB. The 240 range is that skid mark. The Dow is also skidding along there just like in 2011 when things were about as rough as now imo.