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Best Quarter Since 1998

Lee Siler | Tuesday, June 30th, 2009

As we get ready to end the best performing quarter since 1998, investors look forward to the start of earnings season. The S&P 500 soared more than 16% since the start of the 2nd quarter. This was the best showing since a 21% jump we saw in the 4th quarter of 1998. However, year-to-date it’s a much different story. The disastrous start to the trading year has barely put the S&P 500 in the black.  As of yesterday, the S&P was up 2.6%, much better than the Dow Jones, but much less than the Nasdaq.  Clearly the tech sector led us from the depths of hell on March 8th.

I still love the way the healthcare group is performing.  Although I do like big pharma such as Abbott and Bristol, I think you have more bang for your buck with the ancillary stocks.  Healthcare equipment, products and services should do extremely well.  On a technical basis they’re poised to make a good move.  Today I added Lab Corp of America (LH) and Isis Pharma (ISIS).  Lab Corp is a premier healthcare services company.  You may remember that a few years ago they won the United Healthcare contract to be a preferred provider, from their rival Quest Diagnostic.  This was huge for Lab Corp, as their revenues ratcheted to over $4 billion over the past 12 months.

Isis is more of a bio-tech company that should be profitable this fiscal year.  However, this small cap stock is generally not a company that makes money.  That said, it should be only considered for aggressive investors.  The technicals look very strong, as the stock is coming out of a nine month base.  Please adhere to my stop orders if you decided to take a position.

Until tomorrow, I wish you all a great day…

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