by Rod Raynovich | Jun 13, 2011 | BIOgraph
Despite an ASCO “sell on the news” and a severe Q2 correction some mid and small cap cancer related stocks are still up although off their highs. See commentary and news from earlier posts. More on these and others later:
by Rod Raynovich | Jun 10, 2011 | 2023-24 Life Science Portfolios, BIOgraph
All major indices and sectors sold off today making it 7 bad days out of 8 and a 6.37% correction in the S&P 500 over 30 days. The NASDAQ is now down 7.94% since May 11. Remember “sell in May and go away” ? Things were not much better in biotech-land...
by Rod Raynovich | Jun 9, 2011 | BIOgraph
The market rallied on the seventh day after six days of losses but we still have a few hours to go. The Dow is up 0.96% and the NAZ is up 0.64%.Life Science stocks are strong overall with mid-caps up 0.75%. Diagnostics and tools are the strongest sector and within...
by Rod Raynovich | Jun 8, 2011 | 2023-24 Life Science Portfolios, BIOgraph
Stocks Down for Sixth Straight Session: Biotechs still up Over 10% YTD As we wind down from ASCO news with few catalysts ahead, investors and traders will regroup and rebalance their portfolios. The NASDAQ index is down 21 pts off 0.77% and component biotech stocks...
by Rod Raynovich | Jun 7, 2011 | 2023-24 Life Science Portfolios, BIOgraph
Biopharmaceutical stocks got a boost today from a rally in NASDAQ stocks and some positive news on cancer drugs from ASCO. The IBB ($106.36) was up 1.6% off its YTD and all time high of $110 and a nice rally after five days of weakness.The XBI was also up 1.97%. Many...
by Rod Raynovich | Jun 6, 2011 | RAG
Celgene (CELG $58.49) is off 0.93% and down 1.29% YTD in a biotech bull market. The stock is also off 20% from 2007 and 2008 highs near $75.The Company recently bought Abraxis for $3B + and presented Abraxane data in combination with other drugs at ASCO. The Company...
by Rod Raynovich | Jun 6, 2011 | 2023-24 Life Science Portfolios, BIOgraph
Speculation in small cap biopharmaceutical stocks has peaked and we urged weeks ago to raise cash positions to 10-15%. The ASCO “sell on the news effect” has continued today with some high fliers off significantly: Exelixis (EXEL $8.95) is off 18% after...
by Rod Raynovich | Jun 3, 2011 | BIOgraph, Macro
Even the Market is Bored with Economic Data-It’s All About Jobs Weak U.S. payrolls data with a rise of only 54,000 jobs push jobless rate up to 9.1% reversing April’s advance. This mirrors recent coolness in the economy and retail store data. The bond...
by Rod Raynovich | Jun 1, 2011 | BIOgraph, Macro
Market Sell-Off Over 2%-Worse Day Since August 2010 Yesterday’s rally was obviously a good hangover from your Memorial Day weekend. The bad economic news has finally come to roost and the selling today is ominous because it is the first day of the month. Over...
