The markets returned +3.21% during the month of March. A 3.21% return annualized is approximately +36% for the year, which is four times the average stock market return. So it was a strong month for stocks. Below is a chart of the S&P 500. Notice the upward trend line support.
Celgene (CELG) is a major holding of ours and we began buying the stock in the low 60's. The company has several near term catalysts approaching in the 2nd quarter and beyond. I do not believe the street has given this stock the respect it is due. Below is a chart of CELG.
Bottom Line: The overall market is performing well and looks like the move higher will continue into April. Celgene is a key stock of ours, and we await several near term catalyst to push the shares higher. The company continues to buy back stock in the open market, and should continue the buyback until the stock hits $100.00 a share, which I believe can happen sometime in 2012. Thank you for stopping by.
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