Chasing Biotech: Amgen and the IBB

Enough already about Biotechnology, but today was a big day for Amgen (NASDAQ:AMGN) up 12% after some positive news on their bone drug.  If all we are doing is chasing momentum, then go with iShares NASDAQ Biotechnology Index (ETF) (AMEX:IBB).

Amgen said that a large-scale Phase III study showed post-menopausal women who took denosumab had a notably lower rate of incurring vertebrae fractures than those who took a placebo.

Jeffries & Co. just upgraded Amgen to buy, with a new price target of $71.

The talking heads and blogs are big on Biotech lately, thanks to a mix of positive sales results and a bright outlook for buyout potential within the sector.

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But so many of the Biotech firms are hit and miss, thus, its safer (if you can really believe that right now) to go with a single ETF that is made up of a bunch of Biotech stocks.

The IBB's biggest holding is Amgen, here is the current list that is published daily and can be found at the iShares website.

Here's the downlow on the IBB, click on the link to visit the source at ishares.com :

*Holdings are subject to change.

Before you sell the house and put it all in Biotech, check out the stocks that make up the IBB.

Keep in mind that if everyone is saying "Biotech, Biotech, Biotech", the ride on these stocks has already left the starting line, so how close is it to the finish?