October 30 Biotech Update

I said that a kick was possible for the sector and it could be pulling one off.  Yesterday ended up better than I expected and was the start of that save but the market remains in a precarious position with anxiety over the election potentially overwhelming everything today.  Of course, the consensus seems to be […]

October 29th Biotech Update

As awful as the day was yesterday, the sector is not quite broken.  This is not to say that things look great but a reversal and green close today could save it.  Another day lower and we can call the trend as it would be a potentially lower low establishing.  I am not very optimistic […]

October 28th Biotech Update

Not a great start to the week (or continuation of the week) as the market and sector continue to struggle.  Given all of the potential news makers in the next couple weeks it is difficult to completely attribute the move solely to one factor.  My mantra has been that the trend is your friend and […]

October 26th Biotech Update

A mixed start to the week with the broader market and sector lower on the open.  Nothing dramatic on either and nothing really meaningful in news flow, so a sort of drifting would not be unexpected.  I think it is safe to say that we are in the calm before the storm with earnings really […]

October 23rd Biotech (and MLP) Update

Yesterday, we had a nice follow through rally from the early morning move higher.  That was nice to see and could possibly indicate that we are in the making new high phase of the uptrend.  We still are in a limit news phase with earnings to start becoming a larger and larger story (at least […]

October 22 Biotech Update

The past couple days have not been great but we still remain in the uptrend and that has to be the assumption until that trend is broken.  We are probably at an area where support should happen and a bounce develop.  If we continue downward and do not get any real support, it would raise […]

October 19th Biotech Update

I waited a little to write today hoping that something would pop in the feed that was interesting to talk about but nothing is happening to start the week.  As boring as that could be it is useful in that it provides a pretty clean look at sector sentiment as there is nothing as to […]

October 15th Biotech (and MLP) Update

Not much to add as we gear up for earnings season and the sector basically following the broader market in its moves.  It looks like we are switching from setting the new higher high level to establishing the higher low level.  In other words, we are likely in the part of the uptrend where the […]

October 14th Biotech Update

Not much is actually happening in terms of news and yet the sector continues to move higher.  We are getting multiple days of green in a row and breaking out into new highs.  I do not think there is anything fundamental driving this move and it seems to simply be momentum and technical.  Clearly we […]

October 12 Biotech Update

We are not starting the week with new M&A but we are starting the week with strong momentum both with the sector and the broader market.  Of course, very strong broader markets have not necessarily been great in recent weeks for the sector but there is certainly a chance that we break to new highs.  […]

October 8th Biotech Update

We are setting a trend higher in the sector with higher highs and higher lows.  What is actually interesting is that we are getting this new trend higher and have not had back to back green days since the middle of September.  We have alternated red and green since mid-September and despite that back and […]

October 7th Biotech Update

Generally some good price action in the market and sector this week.  There was a slight sell off when stimulus talks were called off but the market now seems to have forgotten that news.  We are probably a month or so of way before the lack of new stimulus shows up in the economic data, […]

October 5th Biotech Update

A good start to the week as I think the broader markets are having a relief rally given that Trump appears on the road to recovery even if his disease was more severe than presented.  Obviously the next couple days remain critical, there does not seem to be an imminent threat of significant worsening so […]

October 2nd Biotech Update

I have had a busy morning but wanted to get some note out today albeit it short as there is not a lot of sector specific news.  That being said there is quite important news that very likely will have impacts on the sector and the broader market.  I think the market is still trying […]

October 1st Biotech Update

The sector has been a grind this week in that it appears unable to move higher but also is not breaking down at all.  Every rally appears to be sold or unable to get any real traction (the open today is a perfect example in that it looks like we could have a good day […]

September 30th Biotech Update

Given the importance of the election in terms of the market, one would have expected that the debate last night would have an impact on the market.  I have no idea how to interpret what happened last night in terms of who won or what they would actually do if elected.  The markets last night […]

September 28th Biotech Update

While there is nothing major happening in the sector, the broader market appears to be recovering and the sector is probably going to be along for the ride.  If we can get enough strength this week to push the XBI above the recent highs (around $116.30) then we can start to take more serious the […]

September 24th Biotech Update

We are not quite in trouble with the sector despite the recent sell off and pain.  Obviously the broader market is not helping but we have not broken below recent lows and still can reverse (needs to be soon) higher and make a higher high to start a new trend.  Of course, nothing is guaranteed […]

September 23 Biotech Update

We could be setting ourselves up for moving to a higher high with the reversal yesterday.  While it certainly seems possible, this would also be the potential start of a new trend so I would be cautious in putting too much stock in it until we see some real confirmation.  In this case it would […]