NASDAQ Off 0.8%  On Disappointing Economic Data and Spiking Crude 

Islamic militants took major cities in Iraq  causing a spike in oil to $106. The energy sector rallied 0.7% with many smaller players soaring over 4%. The energy sector is very strong up 10% YTD. Retails sales rose less than expected with a 0.3% increase in purchases and jobless benefits increased.

Intel (INTC) was up 5.2% after hours on a raised outlook for PC demand.

Looking at Futures now energy is up, silver up. gold up and equities down.

Biotech Stocks are mixed After a mid-day sell off but the volatile XBI is flat for the day a good sign. Our mid-cap index of 50 stocks was slightly down with mixed green and red. Arena (ARNA) and Acceleron (XLRN) were up on good volume.

Our large cap portfolio has minimal damage with FBT  and Regeneron (REGN) up and Abbvie (ABBV) and Alexion (ALXN) down.

Rayno Life Science Movers With IBB Off  0.5%

New Picks: Fibrocell Science (FCSC $3.75) up 8.75%, Pacific Biosciences (PACB $6) up 4.34% and Trinity Biotech (TRIB $23) down 0.7%.

Big Losers:

Achillion (ACHN) off on profit taking.

Ariad (ARIA) down 8.69% on $175M convert deal.

Illumina (ILMN) down 3% on profit taking.

Big Winners:

Albany Molecular (AMRI) on upgrade and acquisition.

Immunogen (IMGN) up 8.82% moving off lows for year.

Response Genetics (RGDX) up 3.8% moving off lows for year.

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