Sector Dragging us DownLooks like the sector is dragging us down yet again.
With IBB down nearly 3% on the day it will be tough to stay in the green.
I agree with Fd somewhat, I think that on a short term basis we are very correlated to the sector, especially in the absense of any news or information.
That said, being correlated to their sector is pretty much true for every stock on the market. I do not think that it will bound CXR to a certain range, as it can gap up and trade at a higher P/E and continue to be correlated to the sector at that higher price. Correlation is more about direction than it is about magnitute.
Marcel