No changes to the model portfolio since the addition of AFFY late last week. Today the NAV increased by 1.25%. This was a pretty good result on a day in which both the NASDAQ and NBI were essentially flat (down by 0.16% and 0.03% respectively). Overall however, the last few weeks have not been very productive for the portfolio.
Since February 27th, the portfolio has experienced its largest down day (-5.6% on March 2nd) as well as its largest drawdown (10% down from the current high of $141,790 on March 6th).
As of today, the drawdown from the high is at ~6%. This gap is primarily attributable to the recent poor performance of SPPI and PGNX. SPPIs accounts for 53% of the drawdown while PGNX is responsible for 34%.
Coincidentally I added PGNX on Feb. 13th, the day that the portfolio achieved its current high water mark. I bought in at $9.60 with a stop of 8.64. The highest it closed since then was $10.05. Yesterday it looked to be rallying, reaching a high of $9.60 before closing at $9.33. Today it gave back yesterdays gains and closed at $9.08. Its PDUFA date is April 28th so it still has some time to run but I am increasingly worried that I was too late into this one.