Rayno Life Science Portfolio:Risk is Off-EXEL,GPRO,UTHR
Speculation in small cap biopharmaceutical stocks has peaked and we urged weeks ago to raise cash positions to 10-15%. The ASCO "sell on the news effect" has continued today with some high fliers off significantly: Exelixis (EXEL $8.95) is off 18% after the Company reported over the weekend six...
Broad Market Sell-Off After Weak Jobs Data: Indices Off Almost 1% -Update
Even the Market is Bored with Economic Data-It's All About Jobs Weak U.S. payrolls data with a rise of only 54,000 jobs push jobless rate up to 9.1% reversing April's advance. This mirrors recent coolness in the economy and retail store data. The bond market called it right as 10 year treasury...
New Moon and June Gloom: Macro Rules, Risk Off
Market Sell-Off Over 2%-Worse Day Since August 2010 Yesterday's rally was obviously a good hangover from your Memorial Day weekend. The bad economic news has finally come to roost and the selling today is ominous because it is the first day of the month. Over the past month we cautioned that...
Energy,Technology and Healthcare Sectors Pace Gains Today
Despite the continuing gloomy backdrop of a Greece default, U.S, debt ceiling and weak housing data, several market sectors rallied today. The NASDAQ was the leader up 1.37% and the S&P was up 1.06%. Energy was the sector leader up 1.39% helped by higher crude (WTI Crude $102.70) and nat...
Rayno Life Science Portfolio: AMRI, GILD, NKTR, OPTR all up
The life science market continued to show resilience today with a few big movers and a bidding up of large cap drugs such as Johnson and Johnson (JNJ $67.15), Novartis (NVS $64.24), Pfizer(PFE $21.21) and Sanofi-Aventis (SNY $39.42). Foreign drug companies fared better up ~1.5% probably...