See Part One of the August review regarding the “bondfest”.

We’ll spare you the review of what happened in August but now you know what worked- bonds and gold.

Gold ended the month up 5.61% as it survived a correction under 1200 and brought in investors as fears of double dip and a waek dollar prevailed.We are near the 12 month  high of 1250:

Rayno Life Science Portfolio: Biotech Outperformed Tech

The Rayno portfolio was down about 4-5% for the month after  a great July led by Tools and Diagnostics stocks.We urged caution and hedges on August 11 and since then most biotech indices are down 5-8% for the month despite a little M&A activity. Smaller caps were beaten up a lot more. Stocks in the portfolio that have held up well in August and YTD are:

Biogen (BIIB) $54, Cubist (CBST) $22,Arca Biotech ETF (FBT) $32.11, Illumina (ILMN) $43.50, NeoGen (NEOG) $29, Sequenom (SQNM) $6.10, Targacept (TRGT) $20.7 and ViroPharma (VPHM).

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