Oil production is running sky high.Chinese growth is less than optimal and the grain growing season has been ideal,pointed out Dennis Gartman,editor of The Gartman Letter.You have the makings of a protracted commodity downturn.The dollar is so strong,it's cast a pall on all commodities.Everything is under pressure because of the strong dollar.*
Michael Yee of RBC Capital Markets likes Biogen Idec stock.We're telling people to buy the dip,he said.The stock will go higher and we continue to be positive here.The data on their candidate Alzheimer's drug will be out two years from now.The drug will hit the market in 2018.It looks like a very good risk-reward to us.The Biogen data looks very positive.*
The RBC Canadian Open was held before large and supportive crowds at Glen Abbey Golf Club in Oakville,Ontario over the weekend.Jason Day of Australia won his fourth PGA title,with American Bubba Watson taking second and Canadian David Hearn coming in third on the leader board.Canada's Graham DeLaet had to withdraw from the tournament because of a thumb injury.*
Biogen Idec (BIIB)
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