The market touched the March lows last Friday , down for the year, and buyers swarmed in.Biotechs were strong yesterday buffering tech weakness and today the baton was passed to several sectors with a broad rally especially with NASDAQ up 2.23%. The NASDAQ-100 qqq was up 2.15%. Leaders were tech and internet stocks the opposite of yesterday. RIMM was thought to be oversold as it was up 10% and high flyers were back: AAPL,AMZN, MRVL, NFLX. Large cap biotechs were mixed with ILMN, VRTX strong and,BIIB , AMGN weak. But overall there was significant rotation into techs from healthcare. Drug stocks were flat to down.
The Rayno LIfe Science Portfolio was up 1% with strength in Tools and Dx: ABAX,EXAS,ILMN,QDEL and NEOG.GenProbe (GPRO $68.62) may have played itself out after the deal frenzy where no new player emerged other than Novartis.
Cepheid (CPHD $33.60)was up 3.25% on 1M share volume. The stock is trading near its 52 week high.
We will put out a Dx watch list prior to the AACC Meeting on JY 24th,