We will be attending the BIO Meeting in Washington DC and will not be posting as usual.
Note that there were two news items over the weekend on our portfolio stocks:
A positive article on Gilead (GILD) in Barron’s.
Gilead Sciences Shares Could Rally – Barrons.com
Another article in Barron’s which was also covered on CNBC was that with healthcare stocks up 11% YTD we could get some rebalancing out. They mentioned that the short interest on ETF’s in the sector was high at 26%.
A Release from Amgen regarding Modification for Use of EPO (more conservative dosing) . The stock could be weak Monday:
Amgen-J&J Anemia Drugs Get Lower FDA Dosing Recommendations – Bloomberg
Overall the action has been choppy lately but most biotech indices have held up for the week.
The QQQ was actually up 1.1% for the week although down 4.83% over 30 days.
Also one of the trends supporting M&A-R&D for new drugs is harder than ever and spending is lower.