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"Facts do not cease to exist because they are ignored.” ? Aldous Huxley
Last week was a good one for investors as the S&P 500 hit an all-time high. Biotech had a particularly strong performance on the heels of the $11 billion acquisition of Array Biopharma (ARRY) by Pfizer (PFE) which contained a 60% buyout premium. This triggered considerable buyout speculation and I would imagine some serious short covering last week. The SPDR Biotech ETF (XBI) was up over five percent on the week even if we did see