The I-shares Trust Nasdaq Biotech ETF (AMEX: IBB) is emerging as a quiet leader in a turn around market.

Biotech stocks have been in the dog house for several years, often trading to their own beat, despite market trends. This has been mostly due to the lack of blockbuster products from the industry, and the fact that most of the older generation of blockbusters has seen their earnings plateau or be affected by cost cutting measures from Medicare and private health insurers.

In past booms, the biotech sector has tended to rise and fall in unison, with the trend carrying most, or at least many of the viable company share prices higher or lower in similar intervals.

With the recent stock market bottoming process playing out, we've noticed that biotech stocks are starting to act like a sector once again, which makes IBB an excellent vehicle, given the difficulty of picking individual stocks in the sector.

It's too early to figure out why biotech is rising. There is probably some deeply held belief among fund managers that a new trend is on the way, with some therapy starting to gain prominence in clinical trials, or some device starting to gather momentum inside the halls of some lab.

From our standpoint, although we'd like to know what the buzz is, the only thing that matters for now, is that the sector is starting to show some strength. And that means that owning shares of IBB makes sense.

And that means that what happens at the 200-day moving average, near 80 on IBB, is a big deal right now.

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Doctor Joe Duarte's Market I.Q., offers subscribers a unique blend of intelligence, market commentary and trading strategy. Duarte's daily articles, and news summaries offer recommendations and analysis for ETFs, and individual stocks in the technology, health and biotechnology, and energy sectors. Doctor Duarte is a writer, and an emerging futurist, with a diverse background, and a growing audience. His combined expertise in health care, energy, and the effects of politics and global intelligence on the financial markets offer a unique blend of insight and information to thousands of active investors and political and intelligence aficionados around the world on a daily basis.

He is the author of four books: "Futures And Options For Dummies," "Successful Energy Sector Investing," "Successful Biotech Investing" and co-author of "After-Hours Trading Made Easy."

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One of CNBC's original Market Mavens, Dr. Duarte has been writing about the financial markets since 1990.

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