Another Daily Reversal : Take More Off in Biotech

buy modafinil uk next day delivery Have you read the book “Think Fast,Think Slow” by Daniel Kahneman? Well my System 1 (fast, intuitive and emotional) brain sees a lot of red on the screen telling me to take profits. If you want System 2 (slower, more deliberative, more logical) data to support this I can only offer the following without extensive analysis:

  • We are currently near lows for the session after making the run to Dow 13,000 (off 8, NASDAQ off 13).S&P (1359) is at one year highs near 1350 level.
  • Our Mid-Cap biopharmaceutical index is off 2.34% with most 33 stocks in the red. Speculative stocks are weak Medivation (MDVN $62.21)is down 5.8%
  • The Rayno Life Science Portfolio is off 1.64% with the IBB ($116.58) off 2.1% after hitting highs last Thursday.
  • Gilead (GILD $44.77) down almost 5% has not recovered from unfavorable clinical news on Friday.
  • Oil is up 2.56% to $105.87 on Iran concerns and robust demand . Gas prices are near record highs.
  • The transportation sector is down 1.28%.
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