Biotech Lifers Mull How to Fend Off the Hot-Money Blues

Wall Street to biotech daytraders: Thanks, but no thanks.

This week's long-awaited correction, which knocked roughly 20% off biotech stocks before they regained some ground Wednesday through Friday, has long-term biotech investors (yes, there are some of those) hoping they have seen the last of momentum-driven free-falls.

Though that's probably a little far-fetched, many of these investors agree that the best way to keep your shirt on is to focus on the less speculative, later-stage biotechs, such as big-cap biotech standard Amgen (AMGN Quote). And for now, most players don't expect a continued deep selloff throughout the sector, although indiscriminate selling was the hallmark of this week's action.

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