Thursday, July 31, 2008

Biotech strength in a weak market

My biotechs are doing well today, in contrast to other sectors which are struggling. In my portfolio, a nice gain in Alnylam (9.1% of portfolio) is helping to offset weakness in Alvarion (calls 8.6% of portfolio) a day after their earnings release. My few biotechs cannot offset today's weakness in the oil drillers, however, as they are a bigger allocation for me. For now, I'm focused on earnings, as several conference calls were scheduled for next week. There is even one call today, for Zilog (7.7% of portfolio) after the close. I've posted many times in the past about the takeover saga at Zilog, but at least this afternoon we'll get some hard numbers to see how the business is progressing.