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Caution on biotechs and energy
Biotech stocks were unusually weak today with many mid-caps down 3-4%. High flier CBST was down even more due to an Oppenheimer downgrade. The ELN lawsuit against Biogen regarding the Tysabri deal...
Weak dollar boosts Reflation Trade
Ten Month Low on the Dollar The US Dollar Index Future (DXY) gapped down 1.3% today at 78.27 approaching September 2008 lows. This dollar drop immediately brought money into gold up nearly 2% to the...
Medarex acquisition ignites broad biotech rally
Bristol Myers announced Thursday that they will buy Medarex (MEDX) for $16/share or $2.1B a 90% premium over yesterdays' market price of $8.40. Medarex is one of the leading biotech companies...
Rally Update:Energy and metals lead the way
As of this writing two hours before the Friday close crude was above $63 up 3%. Since this rally began last week energy stocks have moved up in lockstep. Better than expected housing starts today...
Broad market move up 2%+; Reflation trade back
The reflation trade caught some bids today with energy, precious metal, real estate, agricultural and industrial stocks all following the lead of the financials.Many of the energy stocks are near...
Rayno 2009 Biotechnology Portfolio-Mid Year Update
The Rayno Biopharm Portfolio is flat YTD. This compares to the broad-based ETF IBB which also flat YTD and the XBI which is down 5% YTD. Biotech in 2009 has significantly lagged the NASDAQ which is...
Reflation Trade kicks back: stay cautious
The gloomy job report has risk traders seeking cash. * The Dow,S&P and Nasdaq were all down 2.6% +. * Money flowed into the Dollar and US Treasuries as investors were seeking safety. * Precious...
Reflation trade turns cautious: 3% Market Sell-Off
The market had a broadbase sell-off today with weakness in all sectors especially commodity stocks such as energy and materials. The 30% rally since March 9th has come to a screeching halt. A global...
H1N1 Flu Pandemic is here but Moderate in Severity
Drug Stocks rally on Flu News On Thursday June 11,the WHO raised its alert on swine flu (H1N1) to the Phase 6 pandemic level calling further spread of the virus inevitable. The Director- General of...
Ten Year Treasury Auction drives Yield to 3.99%
The reflation trade got a big boost from Treasuries today as the latest auction brought yields of close to 4%, much higher than the pricing of the May 9th delayed auction when yields were about...