Biotech Stocks Weak After 30 Day Rally
NASDAQ at 4365
We will be attending the 2014 BIO International Convention this week. We do not expect any major scientific developments but will try to keep you informed on any market moving events.
Several hundred global companies will be exhibiting with 28,000 Partnering Meetings planned.
Rayno Life Science stocks to watch this week:
Major ETFs FBT, IBB, XBI are in a rally mode with the XBI leading the charge. Over 3 months however the leader IBB ($152) is up only 2.75%.
New Picks in 2014: Fibrocell Science (FCSC), Trinity Biotech (TRIB), Pacific Biosciences (PACB).
Large Cap Biopharmaceuticals- our eight stock portfolio is up 9% YTD but is selling off today. REGN ALXN BIIB and AMGN are weak and AbbVie (ABBV) is up probably due to proposed inversion deal with Shire (SHPG).
Momentum Stocks: ACHN EXAS ILMN have been strong over the past month.
Next Update 6/24 am