Top Takes From RealMoney

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1. Genzyme, Isis
By Adam Feuerstein
9:31 a.m. EDT

Genzyme (GENA Quote) and Isis Pharmaceuticals (ISIS Quote) claimed victory in a phase III study of their cholesterol lowering drug mipomersen in patients with a genetically high cholesterol levels.

Both stocks, but mostly Isis, are falling this morning. Why? Because mipomersen induced a 25% reduction in LDL cholesterol levels, which probably isn't enough to get these patients off apheresis. And the drug appears to cause liver toxicity. Not a good thing.

No positions.

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2. re: VIX
By Helene Meisler
9:39 a.m. EDT

Gosh, all the chatter about the low VIX and what it means is driving me crazy. How many of you recall the same chatter from back in 2006 when we got down to the low teens ... and when we broke 11, the previous low? Here is the chart of the VIX from January 2006 to February 2007. I am only a chart person, so I won't pretend to understand all the nuances of the options market, but doesn't that have the same shape as the VIX does today?

CBOE Volatility Index (VIX) January 2006 to February 2007 BigCharts.com

Perhaps folks should start fretting a bit more that the Investors Intelligence readings now have the fewest bears in over a year? Of course, the others are not bulls, they are merely hiding in the correction camp!

One more thing: If you're bullish, please do not look at what transpired after February 2007 in the VIX, because the explosive move upward might make you rethink your bullish views!

No positions.