Analysts said many investors were sitting on the sidelines as they digested the data. Frank gretz, of shields & co., said investors must like the biotech sector because of its strong performance Gains to technology shares pushed the nasdaq into record territory wednesday afternoon, while blue chips put in a mixed performance after a wholesale inflation report reinforced inflation fears.
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Market breadth was positive and volume picked up in the last hour of trading One stock in particular that caught his eye is biotech general (btgc).