The market has turned for the worst in recent weeks and continues to fall in a bear market fashion.

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Most of our portfolio strategies are holding more than 50% cash, some are utilizing inverse ETFs, and in my discretionary trading service, we are largely in cash.

We are looking for profitable opportunities to deploy dry powder.

One of the areas we are watching is the biotech sector, represented above by the iShares Biotech ETF (IBB) or AKA "Big Brother."

The biotech industry is often considered risky since biotech companies, especially in the small/micro-cap sector, are often speculative, and individual stocks can suffer vicious losses.

Yet, many areas of biotech show incredible promise, including regenerative medicine, gene therapy, genomics, new advances in treating cancer and autoimmune disorders, to name just a few.

IBB should be on your shopping list for a few reasons.

1. (IBB) "Big Brother" is one of our Modern Family members and is trading well above the June lows while the indices tested them on Friday-we call that relative strength.
2. Biotech received a $2 Billion Boost from the US government earlier this week.

• • One of the goals is cutting cancer deaths in half in the next 25 years.
  • The outcome of this government biotech initiative is unknown but can only be seen as a positive for the industry.

3. IBB is sitting at an interesting pivotal support level

• • IBB closed Friday over 115.
  • Next key level to clear and give us a good risk point for entry is 118.

We are monitoring the biotech sector for a near-term rebound because of rising worldwide demand for medical advancements, aging populations, and new government backing for research.

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