Market Down 10% on Ebola Fears

While the president was busy last week with a fund raising trip to the Bay Area and Los Angeles, it seems two hospital workers who took care of an Ebola patient have contracted the disease. Now they are talking on TV about how the second worker took a plane to travel but since she wasn't vomiting, they don't believe others on the plane are at risk, but it is clear they don't know for sure. Stock markets don't like unknowns and it has sold off to finally hit the 10% level I've written about in my monthly newsletter for a long time.

This chart shows the market is at a KEY (ie very important) support level.

All US Markets are now down for the year (before adding back dividends.)  

There is also fear of deflation with most economies across the globe showing lower growth with some in contraction.

IF you want to search for good news, some of the stocks I recently added to are green today despite the markets currently down 2% or more.  These small stocks led the decline (See blue Russell 2000 on graph) down so they may be signaling a bottom for the next advance... stay tuned as this can change quickly.   

My newsletter subscribers should watch their inbox for a special "Market Update" email alert later today.

1:05pm pst Update:   My explore portfolio closed in the green today and it is up ~1% for the year.

Oct 30 Update:  Subscribe NOW and get the October 2014 Issue for FREE! !  

Oct 31 Update:  SPY just hit a new record high!!!!

Ebola Drugs: Companies Working on a Cure for Ebola

List of companies working on a cure or other drugs to fight Ebola.

Covered in my newsletter:

• NanoViricides Inc. NNVC
  NanoViricides "has now developed novel nanoviricide drug candidates against Ebola that it believes could lead to a successful therapeutic. These drug candidates are designed to mimic the host cell receptor onto which the Ebola virus binds to cause an infection. The site at which the virus binds does not change, in spite of all the mutations a virus undergoes. Thus the Company believes that its drug candidates would continue to work in spite of field mutations in the virus. This is unlike vaccines, antibodies, siRNA, antisense, and several other therapeutic modes which a virus can readily overcome due to mutations it acquires in the field."

NNNC:   Intraday NNNC Chart -  10-Year Chart -
Current: NNNC Stock Quote

Others:

• BioCryst Pharmaceuticals Inc. BCRX
  ==>"BioCryst last month received a $4 million pact to develop its BCX4430, which it hopes can be used for a wide spectrum of viruses like Ebola. The drug proved helpful in tests on yellow fever patients."
• Chimerix Inc. CMRX
  Thomas Duncan, the man who lied about his exposure to Ebola in Liberia on his return to the US, was treated with a drug developed by Chimerix Inc.
• Crucell, a subsidiary of Johnson & Johnson. JNJ
  ==>"developing a vaccine that would be injected into healthy individuals to prevent the disease from attacking"
• Fujifilm Holdings Corp. FUJIF
  ==>"Fujifilm has diversified into chemicals, medical products and pharmaceuticals. Its Toyama Chemical Co. has been contracted out to test an anti-influenza drug on an Ebola patient."
• Tekmira Pharmaceuticals TKMR
  ==>"Based in Burnaby, British Columbia, Tekmira’s drug has been used on a number of infected patients, including Richard Sacra, the American missionary who contracted the deadly virus in Liberia." 
• GlaxoSmithKline GSK
• NewLink Genetics Corp. NLNK
• Sarepta Therapeutics Inc. SRPT
  ==>"Garabedian says that its Ebola test program, which he said could be resumed quickly, resulted in a 60% to 80% survival rate when used on test monkeys infected with Ebola. Its Marburg drug has proved 80% to 100% effective. Sarepta used a gene-sequencing technique to come up with its treatment, and Garabedian says it can be easily adapted to treat other diseases. A new gene sequencing matrix to treat Dengue fever using the same technique was developed in 11 days, he said."

Sources of Quotes:

• (Oct 7) NanoViricides CEO, Eugene Seymour, MD, MPH, Invited to Discuss the Current Ebola Outbreak on Fox Business News at 9PM EDT Tonight
• (Oct 1) NanoViricides Reports FluCide™ Samples Were Shipped To BASi For Start of Safety/Toxicology Studies; Also Reports That Ebola Drug Candidates are Being Synthesized
• (Oct 6) Chimerix Announces Emergency Investigational New Drug Applications for Brincidofovir Authorized by FDA for Patients With Ebola Virus
• (Oct 3) Meet the drug companies fighting Ebola

Kirk Lindstrom's Investment Letter
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