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Biotech Index Jumps As No News From Democratic Debate Is Good News

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Mark Melin
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When a former “shady” hedge fund manager, who has now been called the most hated man in America, Martin Shkreli punched prices higher on a life-saving drug by over 5,000 percent, it caused an uproar in Washington D.C., drawing the ire of U.S. presidential candidate Hillary Clinton on Twitter. A prevailing thought was that the Democratic debate Tuesday night would be a forum for biotech vitriol. That didn’t happen, and biotechs are rallying on the no news is good news mantra.

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.