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Biotechnology Stock Momentum Is Easing -Caution Urged Update Mar 26

|Includes: Achillion Pharmaceuticals, Inc. (ACHN), ALKS, ARRY, INFI

Rayno Biopharmaceutical Stocks Up Big in Q1

No changes have been made in our core portfolio positions except as noted below. But given the YTD run no new positions should be added. Look for a sector driver 2-3 weeks before the ASCO Annual Meeting on May 31. Our index of 35 mid-cap biopharmaceutical stocks shows a lot of red and 4 significant green stocks: ALKS,ARRY,INFN,THLD. Array (NASDAQ:ARRY) was upgraded by Piper Jaffray yesterday and the chart looks good and has 3 drugs in its product pipeline.

Action today with strong charts since Feb. 26 Sell-Off

ALXN ($91.6) stable and recovering off 1 month lows

BIIB ($176) solid performer up 8% since Feb. 25

GILD ($45.47) solid performer up 6.7% since Feb. 25

IMGN ($15.39) solid performer up 8.6% since Feb. 25

PCYC ($79.13) losing MO, off 12% in 5 days

REGN ($169.6) stable and recovering off 1 month lows

SGEN ($36) solid performer up 30.4 % since Feb. 25

Portfolio Updates-See Original Posts

New Long: Achillion (ACHN $8.67) added at $8.60 for HCV play

Paired Trade: Medivation MDVN short at $43, Pharmacyclics (NASDAQ:PCYC) long at $38 for 36 point profit. Close trade.

Paired Trade: Alkermes (NASDAQ:ALKS) long at $23, Infinity (NASDAQ:INFI) short at $48.66.

Infinity got a big 5% boost today in an article in MarketWatch that focuses on the technicals of INFI.

IBB is near recent highs after 3%+ breakout

Disclosure: I am long ACHN.