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Stocks Rip Higher, Plus A Look At The Baker Brothers Top 5 Holdings


Stocks Rip Higher, Plus A Look At The Baker Brothers Top 5 Holdings

This stock market is getting frustrating. Yeah, I know the S&P 500 was up by 1.6 percent on the day, but the problem is that it closed at 2,656. In the midday commentary, I noted I was looking for a close above 2,660. I know it is only 4 points too but look at the trend line in the chart below.

S&P 500

 

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Technology

But here is the good news, the technology ETF, XLK broke above $66, and closed above $66. That is a victory! We can see that the XLK broke out on Apri 4, then retested the downtrend on April 6, and we have been higher since. If the breakout is for real, the the XLK could be on its way back to over $67. In fact, should the bulls juice get flowing, then a rise to $70 could be a genuine possibility.

techology

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Facebook

The majority of the XLK breakout should be to Facebook, finally rising above $161.5, after multiple failed its attempts. I’m guessing the market liked the testimony Mark Zuckerberg had to offer Congress. $166 will be a big test of how strong resistance is there.

facebook

JP Morgan

But not was all fabulous, because JP Morgan is still around $112.50, unable to break out, and earnings coming on Friday morning.

jpm


Amazon

Amazon tried to get above $1440 and is still cannot.

amazon


Biotech

Even biotechs had a healthy day, with the IBB rising by nearly 3 percent. It also broke out of that terrible downtrend it had been in since mid-March. That looks like a sextuple bottom in the IBB. Is there even such a thing? To my knowledge no, but there it is.

ibb

Biogen shares still look lousy.

biogen

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Baker Brothers

Even the Baker Brother’s top holdings are starting to go back up, barely. Their top holdings have performed lousy for some time as if some more prominent investors are betting against them, trying to keeping these stock down. Is that even possible? Look though. \

Alexion

Look at Alexion despite, the positive trial results, and a bunch of analysts upgrades this thing still can going. The average analyst price target on Ycharts is $158, 40 percent upside! What gives?

alexion


Incyte

Even Incyte bounced a bit today; it has been smoked since the negative trial results. This stock was once $150, over a year ago. Remember this was thought to be a buyout candidate back then.

incyte

Well BioMarin, not much to say here, but then again it has been that way for 2 years!

bmrn


S-GEN

The Seattle Genetics chart is not looking so hot, let’s say it is a tipping point and looks bearish.

sgen


Acadia

Finally Acadia, maybe, just maybe, the stock has puked out all the garbage and negativity, maybe. Thanks, CNN you did more damage than any sell-side analyst could have done.  Forget about filling gaps, let’s just get the stock stabilized, and hope the article didn’t destroy future sales. acadia

That’s it

Mike

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Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future.

© 2018 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #stockmarket #bakerbrothers #acadia #biotech #alexion #technology #amazon #incyte #facebook  

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biotech stocks

Biotech Stocks Continue To Soar, More Gains To Come

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Biotech Stocks Continue To Soar, More Gains To Come

Mott Capital Management, Michael Kramer

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Biotech stocks continue to soar, and Biogen and Gilead had big days on Friday. Biogen jumped by nearly 4 percent, taking shares up $368, after reporting robust result on Thursday. Gilead shares jumped by over 5 percent, to over $85, after getting an upgrade from Jefferies and a price target increase to $95.

We have been talking about these two stocks for some time, and the breakout shouldn’t surprise anyone. It seems like the other day when we were focused on Biogen breaking over $318, and Gilead potentially rising to $82.

There appears to be very little standing in the way from Biogen rising to about $400 from its current level.

 

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biogen

Gilead also has very little standing between its current price and a rise to $92 as well, but that, of course, doesn’t mean it happens in a straight line.

gilead

Regeneron shares have moved out of its downtrend for the first time since June of 2017. That could help the stock rise to about $420. We can see in the chart the stock test the downtrend and it bounced. With the strength of the sector, the setup looks good.

regenernon

Alexion shares also look close to a big breakout, and could see a rise to about $145.

alxnAcadia has cleared two big hurdles, first breaking above a multi-month downtrend, and then resistance above $31. Next up a multi-year downtrend around $34, which could send shares to about $40.

Vertex has also seen its shares rise substantially.

vertex

With many of the big biotech stocks coming back and primed for more gains, the sector is likely not finished rising.

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Michael Kramer and the clients of Mott Capital own shares of ACAD

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future.

© 2017 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #biotech #stocks #biogen #gilead #acadia #regeneron #vertex #alexion

 

biotech baker stocks

Biotech Stocks Continue To Rip Higher, Plus A Look At The Baker Bros. Holdings

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Biotech Stocks Continue To Rip Higher As Breakout Nears

What a big difference a few days can make, right? It was just Tuesday when everyone was trying to figure why Biotech stocks were tanking.  Today you have the NASDAQ Biotech ETF IBB ($IBB) nearing a breakout, which could send the shares surging higher to about to $122, a rise of 9 percent. What gives?

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What gives is that Monday’s episode, as I wrote, was a pullback nothing more, nothing less. It was just enough to remind everybody that the group can get wild at times. The ETF continues to grind higher, and I think it is approaching a breakout. Should the ETF rise above $114 it should get us there.

biotech stocks

The table below I find super interesting because it is the past one-year performance for the ETF holdings. The returns of Nektar ($NKTR) and Sage ($SAGE) are pretty impressive. But I want to pay attention to the bottom five stocks. Do you notice anything they all have in common?

biotech stocks

Baker Stocks

Well, Incyte ($INCY), Seattle Genetics ($SGEN), and Alexion ($ALXN) are all Baker Brother, a large biotech Hedge Fund, holdings. But they are not any holdings within the portfolio, they are numbers 1,2, and 3 holdings, 4 is not on the list, but it is Acadia Pharmaceuticals ($ACAD), and 5 BioMarin ($BMRN). Look at the performance over the past year. They have been crushed by the IBB ETF, which is up 21 percent. Amazing.

IBB Chart

IBB data by YCharts

Does it mean anything? Probably not? Maybe just bad luck I guess? I to this point haven’t been able to find a correlation that would suggest otherwise.

Seattle Genetics

Seattle Genetics appears to be trying to form an uptrend, while holdings support around $51.50. The stock has developed what seems to a bullish symmetrical triangle.

seattle geneticsAcadia

Acadia shares have been range-bound for what feels like years; one can see a triangle has formed, which could be viewed as a bullish signal.

acadia

Incyte

Incyte shares are desperately trying to form a bottom at $93. A break below $93 pushes it lower towards $80.

incyte

Alexion

Alexion, like Acadia and Seattle Genetics, is also in the middle of a bullish symmetrical triangle as well.

alexion

BioMarin

Meanwhile, shares of BioMarin have gone nowhere, and look like they may continue to be range bound.

biomarin

Until Tomorrow!

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Michael Kramer and the Clients of Mott Capital own shares of ACAD

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future.

© 2017 Mott Capital Management, LLC.  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #biotech #alexion #acadia #seattle #genetics #nektar #sage #incyte