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Since the market collapsed a few weeks ago, the general market has created a short term bottom. The medical device markers, however, have continued to fall. Over the past month, the S&P 500 is down about 9% while the medical device ETF (IHI) is down roughly 18%. Many investors are scratching their heads as these once recession-proof stocks have begun to significantly underperform the market. If you take a close look at the performance of the S&P 500 (SPY) and the IHI in the last six months you can see the divergence began during the first few weeks of November.

Filed under: Pfizer (PFE), Getting started, Johnson and Johnson (JNJ), Boston Scientific (BSX), Bristol-Myers Squibb (BMY), Merck and Co (MRK), Watson Pharmaceuticals (WPI), ETF Investing

Filed under: Pfizer (PFE), Getting started, Johnson and Johnson (JNJ), Boston Scientific (BSX), Bristol-Myers Squibb (BMY), Merck and Co (MRK), Watson Pharmaceuticals (WPI), ETF Investing

• NY Empire State Index for Nov. - Street expects down 26, compared to down 24.6 in Oct.

• Capacity Utilization for Oct. - Street expects 76.6%
• Industrial Production for Oct. - Street expects down 0.1%

Filed under: Abbott Laboratories (ABT), Options

Medtronic (NYSE: MDT) closed at $39.93. MDT is scheduled to report Q2 EPS on November 18. MDT November 40 straddle is priced at $3.50, December 40 is at $5.50. MDT December option implied volatility of 54 is above its 26-week average of 32 according to Track Data, suggesting larger price movement.