Jim Cramer: Drug Stocks on the Move

 | Feb 16, 2018 | 12:28 PM EST
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Now it is the drug stocks?

You can't be serious.

We get one day where rates go down and the money storms into the group even taking up the ones that have been extremely marginal like Johnson & Johnson (JNJ) and Eli Lilly (LLY) .

Who knows? Perhaps even Allergan (AGN) moves higher.

We are now in the phase where it looks like that not only was the selloff much ado about nothing, but with rates retreating we could be poised for even a further advance PROVIDED that we stay oversold.

It is absolutely remarkable by the way that the single best indicator of when the bottom was reached remains the S&P oscillator which gave you precisely the signal you needed one week ago to do some buying.

It was a hold your nose and buy moment. You are up monumentally from when the mini-bear market rolled through.

The good news is that the drug stocks have a huge amount to run now that they are moving. We just went over ours for the Action Alerts club.

We're doing no selling.

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