We lost a little bit of the momentum yesterday but we have had a short strong move and so a little pause is not crazy. Of course a little pause to refresh is different than a move back towards the lower end of the range. Yes, my assumption will remain that we are in that […]
March 11th Biotech (and Energy) Update
I think we are clearly in what sort of looks like a bottoming process but one that seems like it will be quite messy. The sector continues to be unable to generate consistently strong days but at least yesterday ended up not being a disaster. While continuation would have been great, it did not breakdown […]
February 24th Biotech Update
So it has been a difficult start to the week for sure but we did get a little bit of reversal yesterday. It was more true for the market in general than for the sector but we did not close on the lows which I think is pretty important. Obviously we want to see green […]
January 29th Biotech Update
Yesterday was interesting and today it seems to have settled down a little. As I noted all week this was going to cause some volatility in the market and it has. I am still not sure if the supposed rise of reddit finance (so to speak) changes the market in any way. It could very […]
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 […]
December 7th Biotech Update
So far we do not have an ASH selloff, which is nice to see. I think in general we remain with some seasonal and broader market tailwinds and that should take us through JPM in January. In fact, we are probably getting close to the M&A speculation time but remember that last year was actually […]
April 15th Biotech Update
Well, today is a day where we should have turned off the alarmed, rolled over in bed, and went back to sleep. Certainly not a good start after what was a pretty strong Tuesday. Nothing has really changed fundamentally, so it seems investors are trying to figure out where the next move will and pile […]
November 11 Biotech Update
This is not necessarily a big week for the sector (the trend still seems in intact) but certainly some big SMID catalyst for stocks that I follow. In fact, there will be a trifecta of news (two of which already happened) that could be meaningful. So let us dive into what had happened. 1. PIRS […]
January 23 Biotech Update
A short note today as there is not much going on. We have earnings starting next week so the pace of news should pick up but at this point, I suspect the sector more or less trades in line with the broader markets until we get more company and sector specific news. 1. JNJ hurt […]
December 18 Biotech Update
It is brutal out there for bears and bulls alike. While the trend seems to be lower the market continues to have little rips higher. I still lean towards another leg lower and the XBI is sitting right above the recent lows and a break below those levels starts the waterfall down to another low. […]
December 17 Biotech Update
It really is looking like we are entering a bear market and those sharp rallies that we have seen are simply the sharp counter trend rallies one sees in bear markets. I am not completely convinced that a bear market is coming but I think we are close. As long as the economy remains out […]
December 4 Biotech Update
Yesterday was a good day but not as broad based as one would have hoped. Today will be telling in that the confusion over the China “trade deal” has only amplified leading to early pressure. Ideally, the sector would shrug off early weakness and build on yesterday’s strength to end the day green once again. […]
November 20 Biotech Update
I guess we did not get the turn around that could have been a positive sign. There is still a chance for a turnaround Tuesday as we gap lower at the open but the market feels pretty heavy at this point. There just seems to be no interest in buying and/or holding anything. On the […]
November 1 Biotech Update
Yesterday I wondered if the sector was bottoming and evidence is building that we are bottoming. We still need to string some green days together and see stocks react positively to good news (and hold those gains). I certainly would not bet the farm that the bottom is in but it is more encouraging and […]
October 29 Biotech Update
Surprisingly not any M&A (I say sarcastically). It is interesting, however, that there are some partnership deals and this makes me wonder if that is the new M&A. It is a relatively cheap way to get access to a particular asset with relatively lower risk especially if most of the biobucks are commercial. It is […]
October 2 Biotech Update
There is not a lot of news today, so I will keep it relatively quick. I am really not starting to like the way the sector is trading. The XBI continues to act like crap even as the IBB trades near the upper end of its range. If the XBI cannot rally and rally fast, […]
July 18 Biotech Update
There seems to be a negative pattern developing with strength early that gives way to weakness later in the day. This is not totally unexpected given the need to consolidate but it is certainly sending a signal. We have a set of good news last night and this morning and this should be the strongest […]
April 18 Biotech Update
Nothing dramatically new happening in the sector. There are a couple of interesting tidbits that are worth talking about but certainly no thesis changing or confirming news. 1. JNJ started off the earnings season with a mixed quarter. It is tough to read from JNJ to the sector writ large given the diverse base and […]
