Carter Worth Is Bullish On The Biotech ETF

On CNBC's "Fast Money", Carter Worth shared his bullish view on the health care sector. He said that the sector is finally reaching new highs, after two years of weak performance and he thinks that it's going to trade even higher.

Worth compared the performance of Health Care SPDR (ETF) (NYSE: XLV) with the performance of iShares NASDAQ Biotechnology Index (ETF) (NASDAQ: IBB) and he concluded that the latter is lagging behind the former. He thinks that the Biotechnology ETF is going to trade higher and catch up with Health Care ETF.

Worth is expecting a breakout on the upside in the Biotech ETF and he wants to buy the stock.