13Mar11:04 amEST

Drugs and More Drugs for a Drugged-Up World

News of activist investor Nelson Peltz getting involved with Aurora Cannabis (ACB) as Strategic Adviser seems to add further credence to the notion that pot stocks are here to stay and likely will only gather steam in the coming quarters as the industry becomes more mainstream. Indeed, names like ACB APHA CGC CRON TLRY, even NBEV, have become a regular part of my scanning routine and may continue to be, going forward. 

But beyond those drugs, we also want to closely monitor the more conventional "drugs" of biotech and biopharma healthcare, since this is yet another morning where the XBI (ETF for small and mid-cap biotechnology issues) is outperforming.

On the XBI daily chart, updated below, the sector has done everything it needed to do technically in recent weeks, breaking above resistance and then a successful backtest as price moves higher this week. 

There are quite a few bios sporting enticing charts, with names like BPMC BLUE GBT ZIOP among them. Let's see if more M&A is in store for a drug-happy market in a drug-happy world. 

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