Update -1 Choppy Market Continues..Faux Rally on Wednesday? NASDAQ at 4561 Down 0.66% 1-Reiterate profit taking in Achillion (ACHN), Exact Sciences (EXAS) and Illumina (ILMN). 2-XBI treading water at 160 since August 26. Bull market intact. 3-Recent early August new buys ran up then fell back: CLDX, KPTI and PACB. 4-ACHN momentum is easing at […]
Update-1 …Market Continues Sell-Off With QQQs Treading Water in September Follow Technicals on FBT and QQQ. The Federal Reserve continues to be the main concern of investors as the probability of a rate hike looms greater and sooner. Policy officials will meet next week. The Apple (AAPL) rally was whacked after being up over 4% […]
As we move into a heavier trading period watch your portfolio for changes as volume picks up. Here are some of our long term portfolio winners where you can take profits: Exact Sciences (EXAS) short squeeze took it to $22. Illumina (ILMN) triple to at $180. Here are a few laggard stocks with bullish momentum: […]
Rayno Biopharmaceutical Stocks- Including New Picks Another great day for biotech with most Rayno stocks in a rally mode with a bit of profit taking on Gilead Sciences(GILD) down 1%. Notable movers up on our core picks are: Alkermes (ALKS), Amgen (AMGN), Ariad (ARIA), Regeneron (REGN) and Vertex (VRTX).Our top small cap pick Achillion (ACHN) […]
Look for a decent rally in the biotech sector today after Roche agreed to pay $8.3B for Intermune which is awaiting approval of pirfenidone,a treatment for idiopathic pulmonary fibrosis. The stock is up 36% in pre-market today and was already up 17% over one month.
Large Caps Rule Macro and Seasonal Risks Create a Choppy Market The August biotech rally has taken us to the midpoint of the February top and May bottom and is faltering. Look at the XBI SPDR S&P biotech ETF (XBI), a proxy for momentum and smaller cap trading, up 8.7% over 30 days despite a […]