We have had 3 green days in a row (assuming that today remains green). This is sadly the best the sector has done in awhile. If you look really hard you can see a mini uptrend with this being the first higher high after a higher low. I call it mini as it is still […]
May 26th Biotech Update
I almost feel like we are stuck in a no news period until earnings but then I remember that we still have ASCO coming up (even though I am not sure it will provide very many fireworks for the sector). I have been talking about the sector being potentially in a trading zone but it […]
May 10th Biotech Update
Not a great start to the week and not a lot of reasons to explain it. There is really no big news out this morning and perhaps that is part of the issue. With the narrative and sentiment already negative a day without anything positive is going to generally be weak. The big earnings have […]
April 26th Biotech Update
An OK start to the week in terms of being green. It looks like we have broken the lower high trends and it would be great to get confirmation of that this week and even make a push at $140 in the XBI. I know it is easy to dump on the sector but honestly […]
April 16th Biotech Update
Today is modestly important not that we are going to break above an important range or below one but continued momentum higher is sort of key. We have had a good week so do far but if we stall at these levels it really looks like a clear trend line lower where yesterday has the […]
April 7th Biotech Update
We remain mired in the middle with nothing really to signal the ultimate resolution of this situation. I would simply remain focused on the fundamentals of companies and simply be aware that the broader sector will at some point clarify the next move. I would be ready for a move higher or lower as I […]
March 12 Biotech (and Energy) Update
I think the only thing we can say with confidence is that we are in the middle of process as there is not clear uptrend, downtrend or bottom. This makes for frustrating moves for both bears and bulls as what looks good for your view on day is not another day (in fact it seems […]
February 19th Biotech Update
The sector really seems unable to bounce which seems to open up a move to $150. That being said I really think we are oversold in the near term and so it would really be a signal of disinterest in the sector if we continue to $150. In some ways, it sets up a pretty […]
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 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 […]
December 1st Biotech Update
A strong start to the week that is continuing. While certain sentiment measures are getting into danger territory, it still seems like the market has a little bit more room for running. The uncertainty around the elections is waning and the Biden economic team seems to indicate a strong desire for fiscal stimulus. We are […]
November 20th Biotech Update
I think choppy might have been the best description of the market at this point. This makes sense give the competing influences on both the market and economy. I would not be surprised to see this chop continue or perhaps even see some consolidation. The broader market seems in a little more precarious position than […]
November 19th Biotech Update
Nothing crazy happening in the market at this point. I do not see anything that compelling low or high and I think the market continues to struggle with the hope of the vaccines versus the pain of an out of control spread. There is likely a point where the immediate term gets so bad that […]
November 13th Biotech Update
So its been a decent week and hopefully we can end on a strong note. Not a lot of news to move the market or sector and perhaps that means we get a decent look at the underlying sentiment of the market. We are past the major catalysts of November and there is really not […]
November 12th Biotech Update
The market continues to move along it sort of the honeymoon period post election risk reduction. I still worry about the pandemic as cases continue to grow unabated in the EU and US. Is it possible that the market (and Americans) simply do not care about it anymore and have simply accepted the death as […]
November 11th Biotech Update
Below are my comments on the guidelines that you can forward along. So it looks like the market has digested the outcome of the election for the most part. I still think there is going to be a tug of war in terms of COVID with the vaccine news pushing the post-COVID names but […]
November 9th Biotech Update
We do not have merger Monday, so I suspect the market will be disappointed. I joke of course as this is going to be a massive relief rally on the news of the PFE vaccine. While there will certainly be a rally that raises almost everyone, there will likely be rotations out of COVID treatment […]
