The Market Today

Holy crap, we kicked ass today! The Buy List was up 0.75% while the S&P 500 was up a puny 0.03%. For December, we’re already one full percent ahead of the market. I don’t want to get too optimistic. My goal is to outperform the market by a few percentage points a year. Days like today are nice, but our focus is still on the long-term.
We were helped today by three surging medical device stocks, Biomet (BMET), Zimmer (ZMH) and Stryker (SYK). I just don’t get how Biomet can be 20% off its high.
An AP story picked up on the rise in this sector:

Comments made at a Merrill Lynch conference on Thursday were likely pushing the stocks upward, said John Farrall, a health-care analyst with National City’s Private Client Group.
One panel at the conference included a discussion about how negotiations with the Japanese government regarding biannual price reductions suggest that the price cuts won’t be as drastic as expected, Farrall said in a note to investors.

Incidentally, the Japanese Nikkei finally broke 15000. To put that in perspective, during the closing days of 1989, the Nikkei was near 39000.

Posted by on December 2nd, 2005 at 7:13 pm


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