Update 10/30 1:45 pm EDT Markets weak on China deal, PMI data

  • Sold CRSP at $50.with 25% gain in 2 weeks; will get back in on weakness.
  • XBI off 0.89%, IBB down 0.85%, NAZ off 0.44%.
  • BMY up 1.5% near 52 week highs.
  • Teledoc (TDOC) a top 2019 small cap pick up over 12% on earnings-revenues up 24%.


Update 10/29 IBB up 0.43%,XBI down 0.32%, NASDAQ down 0.59%

Our healthcare re-balancing call on 10/15 was good for your portfolio:  IHI UNH XBI XLV etc.

Earnings on Amgen and Merck support biopharma rally.


Biotech Momentum Picks Up-Bullish Trend Intact

NASDAQ up 1%. at 10:30a PDT, IBB up 1.33%.

As we have written recently healthcare stocks appear to have bottomed and interest in biotech has picked up.Here are some indicators to watch:

  • The XBI hit a double bottom around $75 in early October and held the $80 mark now around $82.
  • The healthcare sector SPDR Fund (XLV) is up 1% today to $93 up 6 pts from early October bottom.
  • Gene therapy stocks are rallying today: CRSPR Therapeutics (CRSP) up 8.2% to $43 on a business and clinical trial update. CSPR is one of the better performing stocks in a weak group.
  • Mid-cap biopharma stocks are in green screen mode with new highs in Seattle Genetics (SGEN) at $.105. BLUE is up 4.7% to $86.
  • Issue for now is small caps as IWM and VTWO lag market since Q1.
  • Illumina (ILMN) is up 6% tp $308 recovering from last week’s losses.
  •  Big news is expected after hours on Mirati Therapeutics (MRTX) on their KRAS inhibitor for targeted therapy of solid tumors. The stock now a $82 could move +- 20% on results.


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