Market Rout: Biotechs Busted In Turmoil From Tariffs…Updates

http://allweatherfencing.com/a.php Sell-Off Gets Scary–NASDAQ Futures Still Down at 1:30A EDT 3/28

Double Bottom -Double Top on XBI and see Testing February Lows at $87

Another Sell-Off= http://itseryne.com/tag/mental-health-awareness/ Tuesday Movers 3/27/18

Large Caps % Up- NONE

FBT Down 3.23%, IBB Down 2.77% to $105.12, QQQ down 3.24%, XBI down 4.27%

Mid-caps % Up -None

XBI SPDR S&P Biotech ETF daily Stock Chart

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BIG RALLY-Monday Movers 3/26/18

FBT Up 2.83%, IBB 108.11 Up 2.68% , QQQ Up 3.72%, XBI Up 2.77%

Large Caps % Up

GILD 3.7, AMGN 3.4, VRTX 3.2, BIIB 3.1, REGN 2.93, CELG 2.58 BMY 2.16.

Mid Caps % Up

SGEN 5.14, AGIO 4.66, ALKS 4.08, INCY 3.99, ICPT 3.24, AVXS 2.2

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Biotechs Busted Wiping Out Gains for 2018

Nowhere to Hide in this Nasty Market with NASDAQ Down over 5% for the Week.

Stop Reading and Analyzing-The Chart Gives the Clues.

Damage is Severe in Large Caps

We have summarized large cap performance below for 2018 YTD and for one year. The bad news started with the Abbvie (ABBV) clinical trial failure on Wednesday then biotech stocks (IBB) plummeted on Thursday, stabilized briefly Friday morning then got dumped enmasse at the close for losses of 2.5-5% for the week depending on the index.

Before last week’s downdraft biotech stocks were doing well particularly some of the hot stocks listed below. We will begin tracking some of those stocks which have led the marker until last week.

We are at the point where fundamentals and financial metrics gets cast aside until the market stabilizes.Technicals matter more. Many of the large and mid-cap charts over one year look horrific. Look for clues on valuations, clinical news and potential M&A moves. Below find some of the strong stocks before the correction.

  • The XBI fared a bit better down 2.6% for the week but broke through lower rising channel.
  • Only four large cap winners YTD: ABBV, BMY, GILD, VRTX.
  • Celgene (CELG) hits $85, a 52 week low down 31%
  • Previously hot mid-caps to watch for a bounce: AGIO, ALNY, ANAB, ARNA, ARRY, AVXS, BLUE, BPMC, EXEL, FMI, NBIX, NKTR.
  • Gene editing stocks-look for recovery: CLLS, CRSP, EDIT, NTLA, SGMO.
  • QQQs and XBI are still testing February lows but still up YTD.

Risk off with update on Wednesday.

Ticker Price 2017 Market P/S % Perform % Perform
3/24/2018 Rev$B Cap $B 12 mos YTD 2018 YTD
3/24/2018
Abbvie ABBV 97.46 28.22 156.4 5.54 49.5 0.78
Alexion ALXN 110.79 3.55 24.58 6.92 -7.87 -7.36
Amgen AMGN 169.43 22.85 123 5.39 2 -2.57
Biogen BIIB 260.13 12.27 54.86 4.47 -5.55 -18.3
Bristol Myers BMY 62.06 101.5 101.53 4.89 11.28 1.27
Celgene CELG 84.98 13 64.13 4.93 -31 -18.6
Gilead Sci GILD 72.84 26.11 95.14 3.64 7.93 1.68
Merck MRK 53.41 40.12 145 3.61 -15.6 -5.08
Regeneron REGN 321.29 5.87 33.7 5.74 -12 -14.5
Vertex VRTX 160.93 2.49 40.47 16.3 80.7 7.39
XBI 88.6 30 4.39
IBB 105.29 9.3 -1.39
FBIOX 228.41 15 4.1
XLV 79.7 7.3 -3.64

 

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