Relative Safety in Healthcare Stocks

Today’s sell-off in the energy complex with the back-drop of a U.S. slow growth scenario plus the Euro being vulnerable due to Greece and Ireland has spooked the overall market. All the major indices are down over 1% with the S&P down 1.22%. Nasdaq is coming back down only 1%.Materials and energy are hit hardest down 2.5%. Technology and financials are down 1.3%. Emerging market and commodity producing countries such as Brazil, Canada and Russia were down 2% or more. Also there is a margin squeeze for commodity trading so the glut in oil and gasoline that has been talked about is coming to fore. One hope- money is out of real estate and is now coming out of commodities so with i rates still very low, 10 year Tsy at 3.16, equities could be the place to hide.

Gasoline Futures were down over 7.5% to $312.52

Gold is down only 15 to $1512, a relative safe haven

Crude June futures  was in free fall triggered by gasoline inventory build, down 5.48 to $98.40

Silver was hit hard down 3.27 to $35.22

Chip stocks had strength in Intel(INTC) and Cree (CREE),

There was relative safety in healthcare stocks down only 0.28%. Many large cap drug, biotech and device stocks were up for the day: Abbott(ABT), Amgen (AMGN), Becton-Dickinson(BDX), Johnson and Johnson(JNJ) and Teva (TEVA)-very strong up 3.4%. Mid-cap biotechs and major ETF’s are down with the market about 1.5%.

The Rayno Life Science Portfolio is down about 1% with three stocks up: Amgen(AMGN),Quidel (QDEL) and United Therapeutics(UTHR).

Here is a Bullish report on the Genome Project.

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