As we wrote Monday, our 30-day Pharmaceuticals Indicator (a sub-industry of Healthcare) seems to have a decent ability to time the group's highs and lows. As of mid-week, it appears the indicator has peaked at a level not seen since September. While this development should catch the interest of cannabis stock speculators as many of those companies are found in the Pharmaceuticals industry classification, it is worth noting that the group includes many non-cannabis names. Consequently, those looking to play the pharmaceuticals industry from the long side should consider a diversified approach. Fortunately, one of the biggest names in the Canadian industry is non-cannabis stock Bausch Health Companies (Sunny; BHC).
On Tuesday, BHC jumped 4.4%, outpacing pot stocks to lead the industry higher. In today's INK Morning report, we highlight BHC as a key player in the Canadian pharma group. Tomorrow, we will highlight the highest INK Edge ranked cannabis stock on our screens.
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When it comes to resource stocks, John Kaiser believes investors are in capitulation mode. In his Tuesday Discovery Watch interview, Mr. Kaiser suggests that may be the overriding reason why Great Bear Resources (Mixed; GBR) and Osisko Metals (Sunny; OM) stocks seemed unimpressed with the good news from both companies over the past week.
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