Where is the next bear market?

Everybody knows that even in a dull market, somewhere, there is always a bull market.

I have the feeling that these days, we are looking for the location of bear markets, until everything cracks down.

In the past months, it was energy. Now, it is the biotech sector.
This sector looked like the dotcom sector in 2000. Very high valuation on the promise of cures to everything.

Now, GILD/ABBV have demonstrated that high priced drugs attract competition and the fear of lower profits, which means IBB down 5% in one day.

Money is rotating into other sectors right now.



Pascal

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