Update 1/8/13 Blow-Off anticipating J.P.Morgan Conference?
Breakthrough: IBB hit new highs above $230 today. Green screen with most large cap and mid caps. ALKS, BIIB among movers. XBI is also up 2%.
Rayno Life Science stocks are in the bullish groove as investors move back to growth. As of midday trading the NASDAQ is up 0.88% and the IBB is up 1.10%.
Significant up movers among our focus stocks are:
ABAX( $41.6) up 1.3%, AMGN ($116) up 2.2%, AMRI ($10.35) up 1.8%, EXAS($13.35) up 3.81%, ILMN( $112) up 3%, PCYC ($126.7) up 17%, QDEL ($30) up 2.16%, SGEN ($39.66) up 2.67%.
Pharmacyclics (PCYC) soared 20% on Phase 3 data for their ibrutinib drug for refractory chronic CLL.
Yesterday we recommended profit taking on Celgene (CELG) at $162 . Celgene is not on our focus list.
Stay tuned as the 2014 J.P.Morgan Healthcare Conference begins next week and we will provide periodic updates.