One month into 2014 and this is where the biotech sector stands. Pretty darn good:
IBB data by YCharts
If you're curious how January's performance stacks up to last year: The IBB closed January 2013 up 6.1% compared to a 5% gain for the S&P 500.
The biggest surprise so far this year (at least to me) -- Celgene is stinking up the joint. Last years top-performing, large-cap biotech stock is this years worst by a wide margin.
CELG data by YCharts
What is ailing Celgene? I haven't heard any specific, other than investors may be rotating out in favor of Gilead, Biogen and Alexion Pharmaceuticals ( ALXN) because they provide higher earnings growth potential in the short term.
If you know of any other reasons for Celgene's weakness, drop me a comment below.