Right now the market seems to be the epitome of a market at highs tends to make marginal new highs. The sector has been doing really well and in some ways was leading the moves higher. There was a little pause yesterday which is normal but at this point I still think the trend is […]
February 8th Biotech (and MLP) Update
We have moved past the large cap portion of the earnings with positive price action in the sector but less so in the companies that are reporting. I do not believe that is related to the quality of the earnings as they were generally fine but more of a broader disconnect between large and SMID […]
February 5th Biotech Update
The market seems like the prototypical market at highs tends to make marginal new highs. If that is the case, then the assumption would be a continued slow grind higher until the elevator down correction. In some ways, it also means that we are unlikely to get those price dislocations that make for the really […]
February 4th Biotech Update
The market seems to have calmed down and now we are entering the grind higher phase (so it seems). I would not argue with you if you were to tell me that the market is overvalued and we are in the late stages of the bull market. I would note, however, that these late stages […]
February 3rd Biotech Update
It seems like the reddit traders and the GME short squeeze neither broke the market or revolutionized it. They were unable to keep the price high and avoid the crash (I suspect the Robinhood restriction only hastened the crash) and the were unable to replicate it in their next target of SLV. So odds are […]
February 1st Biotech Update
It is an interesting start to the week and one that will also have the start of earnings season for biotechs. The GME saga continues with both a push to keep GME high but also a push to move into SLV. I am more interested in the SLV plays in that it provides a better […]
January 29th Biotech Update
Yesterday was interesting and today it seems to have settled down a little. As I noted all week this was going to cause some volatility in the market and it has. I am still not sure if the supposed rise of reddit finance (so to speak) changes the market in any way. It could very […]
January 28th Biotech Update
I was right about being careful in the market given the potential quick moves and dislocations. I think those warnings are the same today. There seems to be a lot of issues with large funds and then you have masses of retail investors piling into stocks trying to squeeze them and continue the party. It […]
January 27th Biotech Update
The market is a little odd right now. We are near or at highs and markets at these levels tend to continue higher. Ultimately they will correct and while the moves higher tend to look like grinds, the corrections are fast. What makes the market odd to interpret right now is that we are getting […]
January 25th Biotech Update
The week starts as last week ending which is quiet. We are starting to get earnings this week which will pick up the news flow but it is not really into next week that the biotech earnings starting hitting in earnest. This week we generally are getting some large pharma which will help us get […]
January 22nd Biotech Update
Not much happening as seems to be the theme of the week. Perhaps I had some wishful thinking that earnings will kick off at the end of January but it does seem like the first week of February will be the week where it kicks into high gear. As such I would expect another slow […]
January 21st Biotech Update
We seem to be in a lull in terms of news. Certainly we are drifting higher with the market which is good but I do not expect any thesis changing news or even stock moving news until earnings start popping up in a week or two. I would think that next week we start to […]
January 20th Biotech Update
So the page has turned from JPM and next is earnings and the usual rush of secondaries. Remember, however, that we had lot of secondaries to end the year, so perhaps the end of January will not be as flush with cash raising as in previous years. Earnings will likely be a little anti-climatic as […]
January 15th Biotech Update
So JPM is done and it was the least eventful one I can remember. I am still a little surprised that the sector has done this well. Usually post JPM we see a flood of secondaries and I suspect there will be an uptick in the next couple weeks. That being said we ended last […]
January 13th Biotech Update
So I think JPM is a complete failure in terms of news. It is obviously a dud in terms of M&A. I do not remember the last time we had a JPM with zero mergers. There have been some with minor deals but it has been awhile since there have not been any. This actually […]
January 11th Biotech Update
Yikes, what a boring start to JPM. I thought last year was sort of slow news and no big events sort of JPM but this is even worse. There is nothing bad that has been announced but if we thought that JPM would spark some life into the sector with big news, then we are […]
2021 Markets Outlook – Are We Ahead of A Major Correction?
Despite the fact that we are mainly focused on the biotech sector, we have to keep an open eye on the overall markets and the correlation with the geopolitics situation in the US. While the SP-500 index is on tear since the 666.79 points back in March 2009, reaching an All-Time-High of 3826.69 points last […]
January 8th Biotech Update
So the sector was doing well yesterday in the lead up to JPM and perhaps we get some early news today but the news yesterday was certainly not a good start and that might end up weighing on the sector (at least in the morning). Hopefully this is not a signal as to the type […]
January 7th Biotech Update
Not a lot of news on the biotech front but certainly that is not the case for the broader news cycle. It was a little disjointed to see the market rally as the capitol was occupied but clearly the market did not see that getting in the way of a transition to Biden. In any […]
January 5th Biotech Update
Was not the best start to the week and perhaps the sector is looking a little tired but I do not see anything to signal that the bull market is over. To me this looks more like a bull market consolidation than the start of some major pullback or start of a bear market. There […]
