Friday was a sad trombones kind of day, as was Thursday, but the early part of the week must have been decent, in that the NASDAQ composite is only off -4.4% for the week. Biotech indices were less horrible than the broader measure, with the S&P Biotech Index doing the best with a drop of -2.6%.
I thought it was well known that the Fed was going to keep raising interest rates in order to stifle inflation, but I did not expect the market to react like it had been kicked in the teeth to the degree that it was. The DOW Jones Index down over 1,000 points? That’s pretty extreme.
Then again, I don’t know if it was just the Fed’s comments that tanked the market. I used to joke with a friend that stock prognosticators used a “Magic Eight Ball” to come up with explanations (i.e., a few stock/trite phrases) as to why the market moved up or down on any given day. After all, why is today all that different from yesterday that would explain the sell off, except that perhaps it is Friday and nobody wants to hold shares until Monday?
Monday, something must have got out about the this week’s big winner stock, CABA, up 43%, but whatever it was didn’t make it to the pages of Yahoo! Finance. The second place finisher, TOMDF, up 35%, was probably responding to actual therapeutic news, their announcement of a “saliva only” monkey pox test. But none of winners for the week were building on any past growth, the best of the five, TOMDF is still -30% in the red for YTD performance.
Moving over to the Contest portfolios, the group can take some solace that for the week, the median portfolio “beat” all three indices, dropping only -2.1% For the Top Ten list, other than the number one spot, there was a lot of swapping places going on. Special congratulations to HORSEINALFA, with the best weekly performance of up 3.4%, allowing them to return to the list, after a three month absence.
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Report Time Ranges
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From
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To
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Recent
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8/19/22
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8/26/22
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YTD
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12/31/21
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Index Performance
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Symbol
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Recent
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YTD
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^IXIC
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-4.44%
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-22.39%
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^NBI
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-3.37%
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-17.19%
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^SPSIBI
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-2.57%
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-24.02%
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Share Performance
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Recent
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YTD
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Top 5
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Bottom 5
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Top 5
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Bottom 5
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CABA
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42.857%
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OMER
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-34.923%
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OPTN
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126.54%
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GNCA
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-99.06%
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TOMDF
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35.000%
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ATHX
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-34.509%
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CBIO
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104.60%
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PTE
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-93.51%
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AYLA
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26.718%
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AMRN
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-19.620%
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ALDX
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79.75%
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VLON
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-92.91%
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PRDS
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24.161%
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PTE
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-17.148%
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FENC
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59.09%
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PRQR
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-90.11%
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LPTX
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20.635%
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STOK
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-15.601%
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LQDA
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54.21%
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PLXP
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-88.64%
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Top 10 Portfolio YTD
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YTD(Portfolio - SPSIBI)
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Rec
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Rec(Port. - SPSIBI)
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DIEGOSAN
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0.63%
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24.66%
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-4.414%
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-1.847%
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BRENDAN_49
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-8.70%
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15.32%
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-0.131%
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2.436%
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GENEGURU
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-12.96%
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11.07%
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-0.350%
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2.216%
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DEW DILIGENCE
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-13.42%
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10.61%
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-9.378%
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-6.811%
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TECHNETIUM
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-17.80%
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6.22%
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-7.495%
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-4.929%
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KMASTRA
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-19.44%
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4.58%
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2.948%
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5.515%
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BIOSCIENTISTSA
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-21.05%
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2.97%
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-2.135%
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0.432%
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HORSEINALFALFA
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-23.69%
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0.33%
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3.434%
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6.000%
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A.J. MULLEN
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-23.81%
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0.22%
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-2.058%
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0.508%
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JACK HARTMANN
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-25.20%
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-1.17%
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-4.261%
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-1.695%
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Average and Median Portfolio Performance
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Avg Recent
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Avg YTD
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Median Recent
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Median YTD
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-$1,705
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-31.83%
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TAMBORELLI
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-$1,405
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MOPGCW
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-34.05%
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-2.27%
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BIOSCIENTISTSA
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-2.096%
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