In two days the stock rose over 10 points. However, all the news in biotech wasn't good. The FDA has announced plans to pull Redux, a obesete drug, off the market. American Home Products and Interneuron Pharmaceuticals were hurt most. Finally, market volatility as measured by the CBOE VIX index is at the highest sustained levels ever outside the crash of 1987.
Options are very rich.
Certainly more happened in the market, but these are just of the bigger themes or currents in the market in the past week. Many stocks have been beaten up and look very attractive on a value basis, while ignored sectors such as biotechnology offer long-term high growth potential. Many stocks look attractive and should offer great opportunities for the investment club.