Biotech Stocks Will Not Wait for Congress-Huge Rally Across the Board
Analysts and Media are Piling On-Momentum Rules
IBB up 1.75%
XBI up 1.81%
Rayno Biopharmaceuticals stocks are in a new leg up with large cap winners:
Alexion (ALXN $115) up 2%
Cubist (CBST $67.62) up 2.95%
Pharmacyclics (PCYC $130.59) up 9.73%
Regeneron (REGN $305) up 4.4%
Mid-caps are also in a big rally with our index of 40 stocks up 2%+. If your biotech stock is not up today sell it. Selected diagnostics stocks are rallying as well with Illumina (NASDAQ:ILMN) up 2% and Sequenom (NASDAQ:SQNM) UP 5%.
Hmmm well we cannot call it a bubble because metrics do not matter.
And some $10-20B market cap stocks are just being discovered by analysts. Don't even think of shorting because large short positions are targeted by hedge funds for squeezing.
Here is our portfolio as of JY 1 2013: Note big winners over just 3 months.
Also look at our take just last April:
Disclosure: I am long ILMN.
Additional disclosure: Long FBIOX