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Risk Appetite Returns To Biotech With IBB Up Over 3%

|Includes:Allergan plc (AGN), ILMN, XBI

Rayno Life Science Stocks -Green Screen Rules-NASDAQ (4168) Up 1.16%

  • Speculative ETF XBI (134.50) up 4.69% and 7.88% over 5 days; 52 week high $172.52.
  • ETF PBE($40.85) up over 3%.
  • Momentum stocks are soaring but way off all time highs in February.
  • Big Rayno Biopharma Movers: ACHN up 8%, ALKS up 3.4%, ARIA up 5.3%, CBST up 4.5%. IMGN up 4.34%, PCYC up 5.9%, SGEN up 5.3%...etc.
  • Big Rayno Dx and Tools Movers: EXAS up 3.76%, GHDX up 4.8%, ILMN up 4.6%, SQNM up 4.9% ..etc.
  • Healthcare ETF XLV ($58.40) now up 5.4% YTD.
  • Valeant Bid for Allergan is a Catalyst for sector.

Amgen (NASDAQ:AMGN) , Cubist (CBST), Gilead (NASDAQ:GILD), and Illumina (NASDAQ:ILMN) earnings after the close. All are on our focus list.

Asset trade with Glaxo (NYSE:GSK) , Lilly(NYSE:LLY) and Novartis (NYSE:NVS) reshapes product direction.

Our index of 55 mid-cap biopharma stocks is up a huge 10.2% driven by AGIO, ICPT, NKTR and SRPT. Shorts are covering and institutions have plenty of fire-power. There is only ONE stock down so if you have a loser today sell it. Speculation returns.

All that matters near term are earnings from large caps and technicals. All Rayno Life Science stocks are holds. The bull is back.

(click to enlarge)Click to enlarge

Disclosure: I am long ACHN, GILD, IMGN.

Additional disclosure: Long FBIOX.

Stocks: AGN, ILMN, XBI