overnight no prescription orlistat 120 mg Life Science Stocks in Corrective Mode-Look for Support Today
is it safe to buy prednisone online Update-winners could not hold tops with http://lakesiderestaurantcumberland.com/menu-card/cheese/ IBB ending day at $167, NASDAQ at 3321
The sector sell-off which began off the May top (up 30%) and picked up downward momentum in June is continuing today. However some large cap quality stocks in the Rayno Portfolio and the IBB ($169) is recovering off the lows of $164:
- Alexion (ALXN $89.25)
- Biogen Idec (BIIB $203) up 1.82%
- Gilead Sciences (GILD $49.59) up 1.5%
- Pharmacyclics (PCYC $81.36)
- Regeneron (REGN $220) up 2,24%up 0.86%
After closing above stocks (except ALXN) were green but not as much.
Small and Mid cap biopharma stocks are still weak and many more speculative momentum stocks are still lacking supportive bids:
- Aegerion (AEGR $57.90) down 7.3%
- Clovis Oncology (CLVS $63) down 3%
- Medivation (MDVN $46) down 1.64%
After closing above stocks remained DOWN.
We are still under the yellow caution flag and have been since the pre-ASCO May top. No changes have been made in the portfolio except urging investors to raise cash.Stocks that are performing well technically and can be added for the long term are Cepheid (CPHD $35), Gilead (GILD $49.49) and Sequenom (SQNM $4.32). Illumina (ILMN $71.89) has also held up though the correction but is now a bit on the toppy side near YTD highs.
The selling has been exacerbated by macro events, weakness in NASDAQ, and a biotech bull market that reached the speculative stage early in 2013 as hedge funds flush with cheap money piled on stocks that had a “story” or were under-owned.
Maybe time to re-read this:
Update to follow at end of day.
Our basket of 40 mid cap biopharma stocks were down 1.25%, but helped by several winners:
ALNY EPZM INCY ISIS SGMO SRPT VPHM