Not Much To Report-Vacation Doldrums

Momentum Has Eased a Tad

Investors Expecting Growth from Large Caps and M&A from Mid-Caps.

We are on vacation until August 25 unless big news and volatility breaks. Here is where we are as of August 15:

  • IBB at $309.31 off July peak YTD of $327, up 16.55% YTD.
  • XBI at $76.47 off July peak of $81.75, up 29.19% YTD.
  • XLV at $79.13 off July peak of $81.08, up 14.78% YTD.

Biotech stocks in general have recovered from last week’s sell-off and remain in a monthly trend up despite a topping pattern from July. Despite weak seasonality and lack of M&A the sector is holding lows with good volume. Mid-caps have been a weak spot as deal rumors have not brought results.

Rayno Biopharmaceutical stocks that have held the 3 month uptrend are: Abbvie (ABBV), Amgen (AMGN), bluebird bio (BLUE), Bristol Myers Squibb (BMY), Foundation Medicine (FMI), and Gilead Sciences (GILD). Bellwether large cap Celgene (CELG) is holding the SMA 50 line up 10.36% over 3 months after an earnings beat.

Position portfolio for Q4 gains.

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