4/18/14 Contest update
As traders left for the Good Friday market holiday the Contest median had managed to squeak back into positive territory, closing up .61% YTD (vs. up 3.26% YTD a week ago). However, neither the Nasdaq Biotech Index, down -2.06% YTD (vs. down -4.98% YTD a week ago), nor the Nasdaq Composite Index, down -1.94% YTD (vs. down -4.23% YTD a week ago), made it back to the black.
GENE’s portfolio, now up 26.13% YTD, got hit hard, but remained in the lead by a nanonose. GUERL’s portfolio, up 26.10% YTD, held second place and BIOMAV’s portfolio, up 24.03% YTD, moved up to third place.
At Thursday's close, 25 of the 46 Contest portfolios were in the black, while 29 of the 46 were beating the NBI. The media Contest portfolio stock was down -4.76% YTD.
I find it interesting that for all the articles and all the hand-wringing about the biotech sector, the Nasdaq Biotech Index is not down further than the Nasdaq Composite Index. The rather weak relative performance lately of the Contest participants tells me that the small-cap biotechs got hit a lot harder than the large-cap biotechs.
Bladerunner |
