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 6th Biotech Update
It seems like the election is all but over. The votes have turned and clearly point to a Bide victory and as of writing speculation is that Trump will admit defeat. Of course, Trump does not have to concede for Biden to win but it would assuage investors and remove the last bit of risk […]
October 22 Biotech Update
The past couple days have not been great but we still remain in the uptrend and that has to be the assumption until that trend is broken. We are probably at an area where support should happen and a bounce develop. If we continue downward and do not get any real support, it would raise […]
August 21st Biotech Update
Nothing too exciting to end the week. It seems like the $109 level on the XBI remains good support and now that we have bounced of that level we seem to be treading water. So far $115 appears to be acting as resistance so a strong move higher probably needs to show a clear break […]
August 13th Biotech Update
Well, the sector was able to do a little bit of a kick save yesterday but we are certainly not out of the woods. Once would have to think that lower is still the more likely trend until we stop setting lower highs. On the positive side, we still have not set a lower low […]
August 12th Biotech Update
Well, we got that quick move that I expected after the sector had been drifting for awhile and unfortunately it was lower. So now what? I still think we will need to test the recent lows to see if we break below and make a lower low (worst case scenario) but if that holds then […]
August 7th Biotech Update
The market and sector seem to both be deciding what to do next and are basically drifting at current levels. I am a little surprised to see the sector drifting given that it is at a somewhat important level for the near term movement. I thought it would have decided whether it wants to break […]
August 3rd Biotech Update
It looked grim Friday for the sector. It simply could not catch a bid. I am sure most (all) of use tried not to think about the price action this weekend and were resigned to more selling. Today, however, we get a bounce. What is interesting is that having being a couple days removed from […]
