Dear GTS Readers,
I still believe the markets are headed lower (600 S&P) (6000 DOW), but we could be in for a extended bear market rally. This up trend could ultimately give us 30% rise in the markets if it plays out. I will not go long until my indicators are in buy mode. If I see evidence of a longer term up trend forming, I will post a comment on GTS.
Now without further ado our weekly pick... Genentech Inc. (DNA) engages in the discovery, development, manufacture, and commercialization of pharmaceutical products in the United States. It markets Avastin (bevacizumab) for the treatment of metastatic cancer of the colon or rectum and metastatic non-squamous non-small cell lung cancer; Rituxan (rituximab) to treat B-cell non-Hodgkins lymphoma; Herceptin (trastuzumab) for treating node-positive or node-negative breast cancer; and Lucentis (ranibizumab) for treating neovascular (wet) age-related macular degeneration. This is a good company with a great pipeline of drugs, and the Swiss drug maker Roche wants to completely own these guys. Look for a takeout offer of $100 a share in the future. Buy This Biotech Stock Under $65.00
