Not the best start to the week but to be honest, it is not surprising that we get some weakness as we were stretched to the top of the trading range. I still would not rule out of break this week but the chart probably needed to reset the overbought conditions in the near term. […]
January 17th Biotech Update
Is this the moment of truth for the sector? Do we finally break out of the range and do so to the upside? We are at the upper end of the range with some good momentum and so this is probably the best chance we have had in awhile. To be clear I am not […]
January 12th Biotech Update
The sector is setting up in an interesting manner. JPM weeks that have a red Monday tend to have a red week but we have been strong since then. Of course, there is a broader market strength that is probably helping the sector to a significant extend because the news has not been bad just […]
January 10th Biotech Update
A rough start to the week. I suspect it was a combination of a little bit of underwhelming JPM news and worries about the Fed and Macro. Yes, there were deals and data and generally the news out of JPM was good but there was nothing that was ground breaking or thesis changing (in a […]
January 9th Biotech Update
A good start for JPM with deals and data. That should be positive for the sector, although I would say that all of the deals seem more bolt-on than transformative. I will be interested to see how it ends up playing out as there is certainly good news but nothing that is massive. All that […]
January 5th Biotech Update
A nice little recovery from a bad start to the year but I must sound like a broken record at this point- we remain in the range and we have to assume that we will until proven otherwise. We seem to be on our way to the upper end of the range and perhaps JPM […]
January 4th Biotech Update
Not the best start to the year but we still remain in that range. I will be more interested to see how the sector trades next week as we get closer to JPM. I suspect the market is getting hit by both the Fed worries (I have to imagine that this impact lessens as the […]
January 3rd Biotech Update
It is a New Year and two paths diverge in the sector. One would be an unprecedented third year in a row of decline and the second would be the first up year after back to back declines. I am going to use the next couple days to delineate my predictions for 2023. LLY […]
December 29th Biotech Update (Prediction reviews)
We end the year hopefully on an up note but nothing has really changed about the sector. We are range bound and a drifting in the range. The length of time spent in this range really makes it into really strong support or resistance for the move. It makes me think that when we do […]
December 29th Biotech Update (Review of my first 5 2022 predictions)
As the year wraps up it might be time to go back through my predictions for 2022 as I get the 10 ready for 2023. It can be a little humbling as one is not always as right as one would have hoped but I will review 5 today and 5 tomorrow. Prediction 1 The […]
December 28th Biotech Update
Not a great start to the week but we remain in a range and rangebound. We are back at the bottom of that range and I do not see anything in the sector that should break us out one way or another. If anything, I think we start to drift a little higher as we […]
December 22nd Biotech Update
The sector has done well since we approached the lower end of the range as was expected. A bounce from the low end made perfect sense. We are basically in the middle of the range and I still suspect that the sector makes it way to the upper end around $86. It will not be […]
December 20th Biotech Update
It was not a great start to the week. We still remain in that range and what we want to avoid is a low volume breakdown of that range. I do not think it would signal a clear breakdown if that were to occur, but it would put the sector teetering on the edge. Ideally, […]
December 19th Biotech Update
Not the best start to the week but we continue to be in that range and as trading dries up this week, I doubt we get a massive high volume breakdown or breakout. We are at the lower end of the range and perhaps there is a little more downside, but we likely bounce back […]
December 14th Biotech Update
The market is doing OK with the CPI number. You would have preferred not to have seen the fade but given the previous history with trading on CPI numbers, I still count this as a win. It helps that the number was close to expectations and that it seems to have peaked. In other words, […]
December 13th Biotech Update
A decent start to the week, which was to be expected with the large deal. AMGN held up better than I would have expected, and the sector did well but remains in the range. We are getting to the holiday season and so I would not read too much into the moves but we still […]
December 12th Biotech Update
I think we are clearly in the range given the news flow and the market reaction. It is not necessarily bad but I think one has to play the range until shown otherwise. This has been a pretty long time in the range and so the break out (up or down) should be pretty clear […]
December 8th Biotech Update
It was basically a flat day but certainly some movers beneath the surface. I think the relatively flat market did not reflect the large moves in some of the news. We seem to be ending the year with news and even more news. While not all of it has been good, there is enough good […]
December 7th Biotech Update
I will spend less time on the general market but more on two big data readouts. There is nothing that has changed in terms of the broader sector or market. I still think we are range bound and likely will remain so through the end of the year. GOSS announced a positive trial and got […]
December 6th Biotech Update
The year seems to be winding down as we stay in this little range. I am not convinced that this is a bad thing (as long as we end up breaking to the upside as this will be nice strong support). I think the Fed and rates has faded to the background a little but […]
