OT: Biotech DirtNap

“Switching gears to biotech yesterday, you probably saw that PFE acquisition yesterday. Amazing timing on that. There is someone as PFE who has Demark indicators up. I am just repeating what someone else told me: Big Pharma has enough cash on hand to buy 600 biotechs at this point. I think what will ensue is one of the greatest shopping sprees of all time. I don’t know about you, but I would rather be short wheat in the middle of the Ukraine war than biotechs at this point. I think we bottomed yesterday. Yesterday I said we were going to sell puts; we are doing that today.”