Rayno Life Science Movers 2% or more
Alexion (ALXN $97.8) up 2.14%
Amgen (AMGN $100.71) up 2.4%
Pharmacyclics (PCYC $100.55) up 12%
Vermillion (VRML $2.90) up 10.6%
After a 4 day S&P rally up 2.7% stocks are taking a rest but the IBB ($183.56) rallied another 0.58% up 33.7% YTD just shy of its all time high of $186.98. Healthcare was the strongest sector today. Most Rayno Life Science stocks were green.
No changes have been made in our portfolios. The action in the market is encouraging with several new highs lately despite many large cap biotech stocks trading well below May highs. We reiterate need for raising some cash to at least 10% of a life science portfolio. The Fidelity Select Biotechnology Fund (MUTF:FBIOX) hit a new high yesterday and is likely to hit another high today.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: I am long Fidelity Select Biotech (FBIOX)