Biotech Sell-Off Continues Nothing dramatic but the overall weakness in biopharmaceutical stocks is continuing today despite a strong performance by NASDAQ up 1.2% at 3464. With biotech having one of it best years of all time, profit taking is expected. The most popular ETFs IBB down 0.4% and XBI down 0.4% are weak but are [...]
Life Science Stocks Holding Up Amidst Volatility-Stay Cautious Biotech stocks are mixed today as volatility from currency moves and violence in Turkey and the Middle East gives pause to investors. Bonds have corrected almost 5% prompting an exit from bond funds as the 10 Year Treasury hits the 2.19 % (high as 2.30) level up [...]
Risk On With Jobs Data in Sweet Spot Life Science Stocks Rally 2+ % Stocks rose over 1% after analysts felt jobs report was “not too hot nor not too cold” extending sentiment for an accommodative FED. The rally is holding before the close as investors feel bullish after a volatile week.Some analysts are forecasting [...]
Market Correction Is Here-IBB at 170 off 2%+ The biotech sector sell-off (IBB at $170) continues today despite an effort to rally in the opening (IBB at $178). The biotech sector now tracks the overall market and is no longer immune to macro issues and economic events. Market concerns this week are the volatility and [...]
Apparently ASCO Is “Sell On the News” Trigger Another lackluster trading day with profit taking; the IBB is down 2.3% and trading near its May bottom with a pronounced topping pattern.Moreover many funds and indices now own biotech stocks so without the general market rallying ((NASDAQ off 22 pts at 2:30 p EDT), the sector will [...]
Sell On ASCO News Due to High Expectations? Large Cap Drugs Outperform Biotechs As we move through the first day of ASCO and much anticipated clinical developments the market should not be surprised that large cap drug stocks are also major biotech stocks: Bristol Myers (BMY $47.59) a highly recommended stock, soared again 3.43% on [...]
