Regarding the recent posts on Healthcare, I took the profit on PFE [edit: AMGN targets higher but taking that profit too] for two reasons; 1) As noted in NFTRH 389 I have a desire to raise cash levels and 2) I watched the most disgusting documentary on Sunday called American Addict. It was a sobering look at the grift if not outright criminality going on at the highest levels of Pharma/Biotech corporate America and its politically powerful lobbying agents. The result is a nation with some large percentage of people drugged up unnecessarily. Big business and its profit motive above all. I had been ignorant to many of these details.
So goodbye Pfizer, give me my money [edit, really due to my own profit motive, not emotion; but point made about industry]. Not to say there are not a lot of ridiculously helpful drugs. There are miracles out there. But the proportion of contemptible behavior per miracle is astronomical.*
As for the general Healthcare sector I still hold XLV and device maker Boston Scientific, but XLV is nearing the downtrend channel’s upper line, which is the target for now.
* Remember the theater surrounding the people’s hero Hillary Clinton? She was documented to be one of the top 2 receivers ($100’s of millions if I recall correctly) of funds from the industry. As I said, contemptible behavior is rampant.
Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow via Twitter @BiiwiiNFTRH.