E Delta Defeats Bulls

After Britain walked back its declaration of "Freedom Day" because of the risks from the Delta version of covid-19, the US market took a beating as well. It seems that the Chinese jab doesn't work as well against delta compared to western inoculations. The DJIA this afternoon was down 900 points.

Photo by Adeolu Eletu on Unsplash

Stocks tended to crash without rhyme or reason. A lot of uncertainty about China also hit the market, but there were a few winning sectors as well. More follows:


*Today Israel small caps took on a new lease of life after last week's gains for larger pharma firms. Among our modest winners in a day without very many winners, we saw rises by BiolineRX (BLRX); Cerus (CERS); Enlivex (ENLV),--all Israeli, although the last is formally HQ, 'd in the Channel Islands. A share that did not rise is the one I bought, Compugen, because it began a 2nd phase I-II trial of COM701 plus Bristol-Myers' Opdivo and 986207, an antibody to TIGIT. This is the second trial start in the past week. the stock fell all the same but I bravely bought more at $6.6899. The needle will not rise as fast for BMY as for CGEN.  

*Japanese Eisai, ESALY, also gained after it was oversold over the Biogen Aduhelm scandal. 

*Zymeworks of Canada, picked by Martin Ferrera also gained 1.92% on no news except the idea that it may be taken over. ZYME.

*Illumina gained 0.86% on no news except that it is being blocked from re-acquiring its own former sub by the EU Competition Watchdogs. ILMN.

*Drug majors including TEVA, which was upgraded last week by Value Line did not rise. Teva fell 2.6%. Nor did Eli Lilly despite an upgrade by Guggenheim.

*My largest US holding, Thermo Electron, has been fluctuating from positive to negative all day around zero moves. TMO.

*Cyrokinetics which is developing a treatment against hypertrophic cardiomyopathy is up 40%.

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