Pause Mode Since February 15
The biotech indices and ETF’s we track are off about 1% or more today as the market is in a profit taking mode. The Rayno Life Science Portfoio is also off about 1%. Speculative appetite is down with some MO stocks and former high-fliers taking a greater hit today: Amarin (AMRN ), Dendreon (DNDN $10.48), Exelixis (EXEL $5.28), Human Genome(HGSI $7.27), Medivation (MDVN $64.95 ) and Sequenom (SQNM $3.78) The “January effect” delivered good gains with the IBB $118.58 and XBI $75.90 up over 15%and the bull market will take a needed rest.Many biotech stocks peaked in early February.
Tools and Dx are driven more by earnings and valuations and are less volatile.