March 18th Biotech Update

Not a lot of news to start the week.  Ideally we need to get some positive momentum going in the sector but there is not a ton of fundamentals to get it going this week.  It would not be bad to see the sector get some upside movement without a lot of fundamental news but […]

March 14th Biotech Update

Support held yesterday and perhaps that is an early positive sign that we have reached the bottom of this little selloff.   One day does not make a successful test of support but it was nice to see and ideally we can build on that green and even accelerate it into the end of the week. […]

March 13th Biotech Update

Well, we are no longer hanging at the higher levels and my original thought that we would test the upper end of the previous range was correct.  We are getting close and perhaps the intraday low the other day was the test, but we are pretty close.  It is probably a reasonable time to be […]

January 30th Biotech Update

A mixed start to the week.  Yesterday was quite positive and constructive and today we are giving up most of the gains.  We seem to be in a choppy market for the sector and perhaps we are setting up for a more significant trend move (higher or lower) but I still think we are basically […]

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December 28th Biotech Update

The sector remains strong.  It feels good to be talking about the continued strength longer than one would have expected.  I would still be cautious about new positions as the chart looks a little stretched.  I do not think we are anywhere near the end of this bull market, but all bull markets need time […]

December 27th Biotech Update

It has been one nice of a run for the sector and it looks almost straight up since the bottom.  This is a case of chasing and FOMO into the end of the year.  In the middle of November, I do not think anyone was saying we would be ending the year close to 52-week […]

December 26th Biotech Update

We are ending the year with a bang.  It looks like a lot of companies are wanting to get ahead of the JPM news cycle and are announcing deals pretty early.  I do wonder now what this means for the JPM hype cycle as it we now have had a good number of larger bolt […]

December 18th Biotech Update

We have had quite the run the past couple of weeks.  I think news probably begins to slow as we approach the end of the year and as companies perhaps start saving news for JPM.  Obviously, there are limits as to how long you can sit on material news but companies do like to hit […]

November 29th Biotech Update

Not the greatest start to the week but also not the worst.  No significant green bars but we also seem to have hit some area of support each day and rallied.  As long as that trend is maintained this is not a bad situation.  One could be looking at the development of support at these […]

November 20th Biotech Update

It was a good end to the week and let us see how we start.  I do not know how to really read the moves this week as I suspect it is going to be pretty slow on the news and the volume front.  This morning is probably pretty indicative as to what we would […]

October 30th Biotech Update

It was not a great end to last week and it looks like we are going to be getting to that $62 level sooner rather than later.  I still sort of worry that we have not had a panic move but perhaps we are setting ourselves up that move this week.  In any case, $62 […]

October 19th Biotech Update

And just like that the potential relief rally is over.  We are breaking new lows and the little rally looks like another lower high.  I had at least one day of potential hope for the sector but my long-standing view that we are heading to the $62 area seems unfortunately accurate.  Of course, there is […]

October 9th Biotech Update

We had a decent end to the week in that we rallied a little but I still think as long as we stay under $75 it is nothing more than a rally that resets the oversold conditions.  With a new war in the Middle East and one that has uncertainty as to the potential to […]

July 6th Biotech Update

We are bouncing around support and while it is good that it holds, it is dangerous for the sector.  If we wanted to be positive, then we are grinding out some volume adding more strength to this support and providing a nice base from which to move higher.  Given that we have all experienced the […]

May 2nd Biotech Update

Certainly, a good start to the week.  We basically got to the upper end of a range around $83 and I would not be surprised to see that act as a little bit of resistance, although if we are in a bull market it should not last too long.  I would like to see us […]

April 27th Biotech Update

Are we breaking down?  It has certainly not been a good couple of days but even though we are under the $80 level on the XBI, it looks like we are still at the bottom of a range.  This is certainly a precarious position and not one where I think we want to linger.  There […]

April 20th Biotech Update

This week has been pretty tame in the sense that we have not really built on the move higher but have not broken below that $80 level that I think is key to hold.  I think we are all a little impatient with the sector given its recent performance but grinding right above the $80 […]

March 15th Biotech Update

Not the best start to the day.  It seems like banks are taking a hit (and not just the regionals but even the too big to fail variety) and as long as the market perceives a banking crisis, it will be difficult for the market to rally.  To be fair when you have two of […]

February 13th Biotech Update

Not the greatest way to end the week as we clearly did not get that higher low that was the potential.  We still could get a nice little trend, but we cannot get any lower.  There is also a potential that we get back to the lower end of the old range, which would make […]