I have to keep on repeating: please don't reply all at once! but then again, I suppose I am the only one reading this m.b....

Anyway, taking myself as a contrary indicator, I succeeded in raising more cash, just in time before the small correction.

Not much has changed since my last post: I still like TECHNE (TECH)at 60.5 and even more so GenProbe (GPRO) at 38. In fact, I upped my already sizable GPRO-position by another 2/3 (by selling some IGT and LUK). I feel really good about this one and think it has an excellent risk/reward ratio at current prices. It is a kind of stock I always wanted to own, but usually it was too expensive. Now that numbers came in a bit shy of expectations, the stock has gone out of favour (as Techne, BTW). This is the time to build up a position in market leaders with high barriers to entry, outstanding profitability and stellar balance sheets, not to talk about a diversified product- and customer- portfolio.

Varian Medical (VAR) is another excellent company which could have been bought in the low thirties (now in the low 40's). However, its potential has been widely written about and it has had its first run and (contrary to GPRO).

On the biotech front, I can only repeat my liking of Molecular Insight (MIPI) and, of course, of Seattle Genetics (SGEN), which has been quite strong lately.

Another outrageously cheap small biotech is Swiss- based ADDEX (currently at 29 CHF). While it much of its pipeline is early stage, it has already inked several bluechip partnerships with the like of JNJ, MRK, GSK, etc.
A fourth biotech I like (and which has now been a happy member of my portfolio for a while) is Alexion (ALXN). Having a drug which functions really well for a rare hematological disease it is currently testing the same drug for different orphan diseases. Sales force can be kept small since its drugs target a rather sub-specialized gorup of doctors. ALNX might not be the cheapest stock on earth, but at least it is a biotech with a lock-hold on a disease and good potential for label extension.

regards

Dr John

disclaimer: BTW, I only discuss shares in detail which I own in my portfolio.