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I am in agreement. As you can see the bases have been building for over
a year and sometimes within the context of very negative news.
Stuart
Gitanshu Buch wrote:
> I'm amazed at how many multi-year basing patterns exist on the weekly
> charts in this complex, both the sedate $DRG drugs & their more
> steroid infused $BTK biotech cousins. A few individual stocks have
> already broken out (ABT, then MRK) and a lot of them are bubbling just
> under lifetime highs (even though they look like breakouts on the
> Dailies) - eg SGP, PFE, AHP, MRK itself. A few hop, skip & jumps to
> clear the lifetime Highs hurdle should mean a multi-year rally, of the
> 100% kind seen on Merck in 1997-98 before they went into this
> protracted "congestion". Must be planetary, this extended cycle of
> rally/consolidate/ potential rally sequence. Comments,
> anyone? Thanks Sample charts attached. Gitanshu
>
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