Defensive Stocks Soar To Record High As Biotechs Battered To 2-Year Lows

If everything is so awesome, why is the defensive "personal and household goods" index spiking to record highs as exciting indices like Biotechs are collapsing to multi-year lows?

If everything is so awesome, why is the defensive "personal and household goods" index spiking to record highs as exciting indices like Biotechs are collapsing to multi-year lows?

The Great Rotation out of momentum continues.

 

And everyone's favorite - Valeant - is crashing-er again today...

 

 

Down a stunning 60% this week...

 

Chart: Bloomberg

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