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 […]
February 3rd Biotech Update
I think I was right that we were entering a new uptrend but it still looked like we were in the range. It seems like we are in the process of breaking out but we still need to retest the old resistance and make sure it is new support. Whether we need to run higher […]
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 […]
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 […]
November 2nd Biotech Update
The sector has done pretty well this week considering the broader market and the concerns over the Fed. I still think we should remember not to fight the Fed but the fundamentals for the sector in terms of the earnings have been generally positive. There were some outliers like ABBV but for the most part […]
October 27th Biotech Update
A strong start yesterday but it weakened in the afternoon. We are near the top of the range that seems to have developed. It would not be surprising to see that upper end act as resistance. I am not sure there is anything that can happen today that could be definitive. Even if we break […]
September 23rd Biotech Update
It has not been a good week for the market or the sector. We have clearly broken down and interest rate concerns are probably going to at best keep a lid on the upside and at worst continue the downside. I do not think it was a coincidence that the sector seemed to get it […]
September 14th Biotech Update
Well, that was not a great day. Interest rates and risk off are not kind to the sector. As long as we can hold support I think we will be fine. I am not convinced that this is going to be a large and sustained sell off as opposed to a quick adjustment. I get […]
August 10th Biotech Update
Did we have that pullback that refreshed? Sort of. We went down to what was resistance and have bounced but it was a quick little move. In some ways, a move down to the $87 level on the XBI would be the former resistance and I will be really looking to see if we make […]
July 29th Biotech Update
I have had family in town that has changed my schedule and so it has been slow on the updates this week. There is growing optimism in the sector and I suspect that we could outperform the rest of the year. Maybe I am crazy but as long as the fundamentals do not crash in […]
June 8th Biotech Update
I guess I brought some good vibes back from my vacation. I still would say that we are not ever close to saying that an uptrend is in play but these strong days are the necessary condition to start that trend. We are at a level where additional upside gets us starting to think more […]
June 7th Biotech Update
I am back from my little vacation and have some catching up to do. The sector seems to be looking for direction as it bounced around from my perspective. I did not follow its movements closely but from the distance of the beach it looks as if the sector has not made a decision to […]
May 3rd Biotech Update
So we had a late day rally yesterday and I am not sure what to think about it. I sort of prefer the weak Monday and gap down Tuesday morning to reverse green sort of setups. It was nice to see the sector rally on what was a group of bad news but with […]
April 29th Biotech Update
We remain stuck in that I think the sector is gong to move with the broader market and the broader market is not good at this point. I would think both the sector and broader market were oversold in the short term and due for at least a dead cat bounce and yesterday looked to […]
April 13th Biotech Update
We had a chance to build some nice momentum and yet we failed once again. To be fair the broader markets have not been that conducive so it is not as if this is a sector specific move but it is yet another disappointment in a long line of disappointments. The sector can still save […]
April 7th Biotech Update
It has been an up and down week and while some of the moves felt trend like, i.e. that they would be part of a more sustained move to the upside or downside, it seems like the week is one of sideways. There are still two trading days to make the week one of green […]
March 25th Biotech Update
Not much news this morning. The world is still here and while the stalemate continues in the Ukraine the lack of escalation probably keeps the market calm. There is still tremendous violence ongoing but at this point the market seems to have priced in the stalemate. I still think the stalemate breaks at some point […]
March 14th Biotech (and Ukraine) Update
Not much has changed in the Ukraine. This is probably a positive for the market but this stalemate cannot last indefinitely. If the Ukrainians are successfully hitting the Russian supply lines (as it appears) then the Russian forces will soon (another week or so) have very little supplies left that they will be unable to […]
