Pharmaceuticals Firming Up

Speaking of bottom fishing for sectors that are bottoming, take another look at Pharmaceutical HOLDRs Trust (ticker: PPH). This sector is moving up off of a multi-year base and a long term head and shoulders pattern on the monthly chart (right). On the daily chart the action looks as if money is flowing in the sector. My initial buy into Pharmaceutical HOLDRs Trust (ticker: PPH) is up a little more than 3% but looks like a timely entry here.