Jobs Data Triggers 1% Rally; Life Science Sector Up 2%
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...
ASCO Day 3: News and Daily Movers in Risk-Off Mode CELG,GILD,IBB,PCYC
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...
ASCO Day 2 Briefs and Daily Movers: ARRY,GILD,IBB,IMGN,SGEN
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...
ASCO News and Moves: BMRN, BMY, CLDX, MRK, ONXX, SGEN Update 1 CLVS
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...
Reiterate Caution on Biopharmaceutical Stocks With Major 3% Sector Sell-Off
Raise More Cash- No Change in Rayno Biopharma Portfolio Last month we raised the yellow flag on the biotech sector because of a choppy tape, new highs with weakness in MO (Momentum) plays and the anticipation of ASCO news that could trigger a "sell on the news" trend. Moreover CNBC pundits have...