Friday, May 30, 2008

Trend continuation into month-end

May's general trends for my portfolio have held up today into the close, with a few minor exceptions. Continuing their month-long trends are Nabors (common 7.1% of portfolio, calls 4.0%), which is up nicely, and Alvarion (common 3.1% of portfolio, calls 3.4%), which is down once again. In the case of Alvarion, it is probably due to continuing dollar weakness against the shekel; the exchange rate is now down to 3.22. The exception is Vion Pharmaceuticals (0.8% of portfolio), which is up strongly today on light volume, countering the longer term decline. This may be due to speculation regarding data to be presented this weekend at ASCO, although I was under the impression that all ASCO abstracts were released prior to the meeting. So there shouldn't be many surprises, but perhaps the full data will be more encouraging.