July 18th Biotech Update

The sector has been red hot.  It is due for a pause and a test of the breakout.  Perhaps this is where we get that healthy pause and refresh or perhaps we have a little more juice left in this move.  Yesterday was interesting with a pretty strong move in the big pharma names.  I […]

June 10th Biotech Update

Keeping on the theme of griding we continue to work through the ASCO and other data.  The sector is still going to be linked to rates and the Fed but given that we are not in a place for rates to go down, we are looking likely to grind away at these levels.  I thought […]

May 22nd Biotech Update

We are hanging out.  I do feel like there is a little more interest in the sector than has been and obviously it is related to rates.  They have trended down recently, and the talk is that CPI should be cooling off as well.  The FED has not really changed its tone a lot and […]

May 15th Biotech Update

This week has not been too bad for the sector. Perhaps my original thought about steady rates being good for the sector will actually pan out.  Of course, that all can change with the next CPI number of Fed talk and so we are still very tied to the broader rate environment (at least that […]

April 26th Biotech Update

Well, I sort of do not want to be a broken record on the macro and its effect on the sector. It is what it is and we all know it.  We are at the start of large cap earning season and so I would prefer to focus on the fundamentals and the broader market […]

April 17th Biotech Update

We still wait on the Middle East to see if we need to add another layer of macro worry to the markets.  The longer we go on the more likely tension settle but it still seems to rest on the scale of the Israeli response and whether it compels Iran to respond.  A tit-for-tat spiral […]

April 8th Biotech Update

And we are once again dependent on rates and inflation.  Rates are moving higher regardless of what the Fed has been saying as the economy remains stronger than expected.  I think we started the year with the thought that we could see upwards of seven rate cuts, but it has generally been around three to […]

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 […]