Updated from 9:06 a.m. EDT

Biotech is back! But don't just believe it because I say it. Take a look at some of biotech's leading names, such as

Amgen

(AMGN) - Get Amgen Inc. Report

,

Genentech

( DNA) and

Imclone Systems

(IMCL)

. All of these stocks are at or near their 52-week highs. Money is flowing into the sector as savvy market players look for a safe place to hide in this uncertain economic environment.

The entire biotech complex is also in play because Big Pharma is in desperate need of boosting pipelines through mergers, takeovers and partnerships. The major pharmaceutical players are flush with large cash positions, but many of their blockbuster drugs are quickly coming up for patent expirations. The expirations will lead to a flood of generic drugs into the market place that will cut right into profits and slow the growth for the old-school giants. This will force those giants to put those large cash positions to work.

Even Barron's has joined the biotech buyout speculation with a recent article that highlighted potential biotech takeover targets. It's times like these when investors can capitalize on the bullish trend and find the undiscovered, left-for-dead or hated stocks in the space. Many of the forgotten biotech stocks are ripe for big gains. Don't miss the opportunity in biotech. You'll regret it.

To read more and for three biotech plays that could explode 100% or more, please click here

At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.

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James Altucher is president of

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LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the

Financial Times

and the author of

Trade Like a Hedge Fund

,

Trade Like Warren Buffett

and

SuperCa$h

. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback;

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