http://oceanadesigns.net/images/granite/multi-red-onyx/multi-red-onyx.jpg The Bi-Partisan Cliff Deal Nobody Likes (Except the Market)
Investors like the tax deal as it is favorable to investors despite the tax increases.
Stocks are holding their gains after a “mini-fiscal” cliff deal that drove the Dow and S&P up 1.7% and NASDAQ up 2.4%. Life science stocks soared as they usually trade with the NASDAQ and growth stocks.The IBB and XBI are both up more than 2%. Last week we summarized our biopharmaceutical stock picks which were up 35% or more – AMRI,GILD REGN- and these stocks continued to rally today. A good hedge against the sector is shorting Medivation, Inc. (MDVN) which is down 0.9% today in a soaring market. The stock is up 120% over one year, down 10% off October peak and profit taking is expected.
Later today we will summarize our Diagnostics and Tools Focus Stocks and among the winners today are :
Abaxis(ABAX $37.50) up 1.1%, purchase Lyrica canada Cepheid (CPHD $35.60) up 5%, http://economylock.com/project/portfolio-post-with-fullwidth-gallery-2/ Quidel (QDEL $19.90) up 6.6%, Sequenom ($4.89) up 3.7% and ThermoFisher (TMO $64.81) up 1.6%. Cepheid is a recent new buy at $32.