The Nasdaq Biotech Index is up 25% so far this year, outpacing the Nasdaq, the S&P 500 and the Dow Jones Industrial Average.
For the remainder of 2017, Real Money contributor Bret Jensen thinks the best part of the rally is likely over. He noted that the sector underperformed throughout 2016.
Though the rally could continue if M&A activity accelerates in the oncology sector, he said.
Jensen doubled his stake in T2 Biosystems (TTOO) . Shares plunged on Friday as the company issued more shares of stock. Shares are down 14.5% since the start of the year.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
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