Market Sell-Off Accelerating As Shut-Down Drags On Update 10/4 CLDX

enter site Life Science Trading Update 10/4/13       NASDAQ up 0.88% at 3809

Is the market expecting Boehner to settle?

Green screen today with most market leaders up  about 2%: AMGN, BIIB, PCYC, REGN, VPHM.

ETFs up in the 1% range.

DX and Tools Movers: GHDX, ILMN.

Mid and small-cap biopharmaceuticals: very strong except http://akinabridalcouture.com.au/products/la-sposa-millar/ notable weakness in–

go here Achillion (ACHN) down 2% on 2M shares, CLDX down 3.55% on 3.5M shares, Sangamo (SGMO)  down 2.17% on 90ok shares, 

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Markets Are Finally Getting the Message On A Dysfunctional Congress

Force Majeure of Debt Ceiling?

Investors and traders have heard enough of polarized politics and acrimony in Washington and decided to take profits. The market is off 5% from September 18 highs when the S&P was 1728 and now at 1620.

The NASDAQ is off 1.57% today after hitting a YTD high just Tuesday at 3817.

Momentum stocks are off big today: Herbalife (HLF) off 6%, Netflix (NFLX) off 3.3%, and Tesla (TSLA) off 6.6%.

Even biotechnology stocks are in the red just after hitting all time highs this week with ETFS : PBE off 1.5%,IBB off 1.95% and XBI off 2%.

buy cheap cialis online Biopharmaceutical big winners are being hit hard by profit taking : Alexion (ALXN) off 3.24%, Biogen (BIIB) off 4%, Biomarin (BMRN) off 2.77%, Regeneron (REGN) off 3,86% and Seattle Genetics (SGEN)  off 2.6%.

Celldex Therapeutics (CLDX$33.53) is off 8.8% on 3M shares. The market cap is $2.7B with shareholder equity of $177M. Celldex is one of the leading biotech momentum stocks having launched from a low of  $7 on January 2, 2013. Celldex was created in a reverse merger and formerly known as Avant Immunotherapeutics,  has a pipeline of one Phase 3 product for Glioblastoma and two Phase 2 products for breast cancer and glioblastoma.

 

 

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