Biotech stock rally continues: mid caps up 2.5%

Biotech stocks continue to rally off the early November bottom despite bad news from Poniard (PARD) because of the picoplatin study failure. PARD was down 76% at 12:09p. The recent news of Sanofi-Aventis adding $800M in funding of Regeneron for monoclonal antibody therapeutics has bolstered the market. The IBB is up 6.5% off the intermediate […]

Continue Reading 0

Biotech sell-off abating

The technicals in the biotech market are looking a lot better but the damage from October was severe. The 10% correction from the Sep 21, 2009 peak is about over as long as the NASDAQ holds up. The IBB is at 75 today off its high of 84. Good news from a number of companies […]

Continue Reading 0

Biotech sell-off continues

We commented on Tuesday about the broad selling of all biotech stocks large and small and this trend continues through today. AMGN shares are down this week despite earnings EPS of $1.49 beating estimates of $1.27 as regulatory concerns about its experimental osteoporosis drug weighed on investor.Despite bullish analyst support and a forecast of approval […]

Continue Reading 0

Biotech stocks in stealth retreat

Biotech stocks were in a broad retreat today for reasons that are not yet apparent as the Nasdaq and S&P were only down a modest 0.6%. Large caps that were hard hit include AMGN, BIIB,and VRTX as well as the major ETF’s IBB and XBI. My broad index of 35 mid cap biotechs was down […]

Continue Reading 0

Life Science Market Performance Q3 2009

Biotech summer rally sparked by deals Life Science stocks kept pace with market sectors that offer comparable risk and performance: Small cap growth, science and technology and midcap growth. The bellwether, broadly diversified ETF IBB was up 16% moving from 70 to 81 in the three month period. About 50% of the IBB holdings are […]

Continue Reading 0

H1N1 Swine Flu activity picks up; vaccine roll-out underway

The CDC provided a situation update regarding key flu indicators for the Week of Sep 20-26 and said that influenza activity remained elevated in virtually all states. Visits to doctors and hospitals are higher than can be expected this time of the year and almost all cases were similar to the H1N1 strain which was […]

Continue Reading 0

Markets stable after sell-off;Dollar down

The dollar traded down 0.38% after a fierce rally yesterday that coincided with a weak stock market. Crude fell 1.5% today to $69.77 a barrel with weak employment number and assumption that energy demand will take a long time to rebound. Unemployment rose to a 26 year high of 9.8% as 263,000 payroll jobs were […]

Continue Reading 0

Caution Flag Up with broad sell-off of 2-3%; Deflation risk back?

The market took a thrashing today with the biggest one day slide since July 2; major indices were down 2-3% but materials and financials were down 4%. The Dollar Index DXY was up 0.7% to 77.2% just off its one year low of 75. Equities have been tracking the dollar and oil trade and with […]

Continue Reading 0

Gold up $17 to $974, gold and silver stocks follow

Gold futures shot up today at 10:30 am NY triggered by a weak jobs report as it broke through 60 day highs of 960. The six month high was 980 in May 2009. Gold investments have made money over 8 years starting at $300 in 2001. Gold hit a high in the $1000 area in […]

Continue Reading 0

Reflation trade back on: crude up,dollar down, housing sales up

Crude oil futures continued their momentum today with October prices at a 2009 high of $74. The market followed as all four major stock indices reached 2009 intraday highs. Strong home sales for the 4th month in a row were one of the catalysts. July sales of existing homes jumped 7.2% the fastest sales pace […]

Continue Reading 0