Could the defensive stocks be hated more? Could someone sell Genzyme (GENZ) lower?

Genzyme (GENZ) pulled back on Tuesday, reminds host Melissa Lee. Is that a buying opportunity? I’d wait, counsels Pete Najarian. It’s bounced off this level many times.

"The Nasdaq united will never be defeated. For those of you who were protestors for just about every cause at college, you know that familiar ditty, except it was "the people" back then. But I keep thinking about it because of how united the Nazz is on days like today, with every oar pulling in the right direction, from restaurant chains to tech (particularly cell phone tech, which I have pushed endlessly) to biotech (thanks Genzyme (GENZ) to infrastructure plays like Bucyrus (BUCY) and Joy Global (JOYG)." ("You Can't Stop This Nasdaq Juggernaut," 6-9-09)

“Is health care finished as a concept? I think that you could argue that it is finished as a hiding place. The health care business has been rocked by problems before, and it has managed to bounce back time and again, but this one's really painful because there's nothing but bogeymen out there telling us what is going to happen. We are in a "shoot first, ask questions later" mode. One thing I would point out is that the drug industry has been a remarkable stalwart in Congress, and the president's going to have a tougher time rolling them that he would other industries.
The real issue for me is valuation. Let's say the president doesn't want Genzyme (GENZ) to get reimbursed the way it has been for orphan drugs. It's been the Democrats, not the Republicans, who have fought for these companies. The Democrats have always held up the group as inventors, not salespeople, so my take is that after the smoke clears, you will come back to that group.
But is now the time to buy them? I think their outperformance has been too great in the last six months to call a bottom, and the big pharma companies are reeling, too.
Would I short them here? You should have shorted them two days ago.
Going long, though? I'd wait, which is why we trimmed the group yesterday for Action Alerts PLUS. My instincts, given congressional love for biotech, though, is that when they settle, you will be surprised the resistance that Obama gets on the issue, particularly the orphan drug issue.”

So now they are coming for everything in the sector, as reimbursements could be cut for everything. That means some pain in Genzyme (GENZ), which has high-priced drugs that may not be protected.

In the larger space I like Celgene [CELG], Genzyme [GENZ] and Teva [TEVA] for their pipelines. - Pete Najarian

Looks like a winner.

In addition, Huckman also thinks there could be news out of Genzyme [GENZ], Celgene [CELG] and Amgen [AMGN] three other presenters. They could re-affirm their guidance, or provide color on Q4 revenue which would, in turn, move their stocks, he says.

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You want hypergrowth? You can buy Celgene (CELG) or Gilead (GILD) or Amgen (AMGN) or Genzyme (GENZ).

Lost many dollars

out classed by competition