I do not want to be a broken record but we remain in a market driven by macro and not individual stock fundamentals. The one change so far this week (for the better) is that it is driving a broad bounce back in the sector. Whether this ends up marking a bottom or is simply […]
November 10th Biotech Update
Kind of a bad way to end the week but is it? The sector got hit with a double whammy of bad news plus Fed talk that was pretty hawkish on rates. So the two biggest issues for the sector were brought to the forefront and it pummeled the sector once again. I still think […]
September 18th Biotech Update
So we stopped the clear downtrend when we made the move to $81 but all that did was stop us from having a lower high (we basically made it to the previous high of the downtrend). I think it is pretty clear that we are not able to start an uptrend and we are going […]
August 21st Biotech Update
Last week could have ended worse for the sector but I do not think anything is saved. I still think we end up testing the lower $70s on the XBI before all is said and done. It looks like the 52-week low is the lower $72s and below that level we would be looking at […]
August 10th Biotech Update
I am back but my luggage is still on vacation. Hopefully, I will soon learn of its fate and it will find its way home. I need to catch up on the sector trading and will have more remarks on that later but there is more than enough news to keep me busy with reading […]
February 6th Biotech Update
A relatively slow start to the week both in terms of news and trading. Last week we had a lot of large cap earnings and earing season continues but Mondays tend to be a little slow on the reports. We started the day red and are struggling to get to green. That would be a […]
January 9th Biotech Update
A good start for JPM with deals and data. That should be positive for the sector, although I would say that all of the deals seem more bolt-on than transformative. I will be interested to see how it ends up playing out as there is certainly good news but nothing that is massive. All that […]
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 […]
May 10th Biotech Update
This should be it. The sector has been oversold and very stretched to the downside and was due for a bounce. Today we finally see some significant M&A and this should trigger a nice multi-day rally. If this deal cannot move the sector in a meaningful way when it is oversold then I do not […]
January 12th Biotech Update
I think the big news that was going to drop this week has dropped. There are still a lot of companies I am going to be following up with so there is still plenty to write about but I do not big new news coming. Given the lack of M&A and some negative news the […]
December 8th Biotech Update
We finally had our bounce start but yesterday has to be the start. If we end up giving it back today that is not a good sign. Starting the morning red is OK but we need to close green and build on the momentum that was started yesterday. There is no reason that the bounce […]
November 24th Biotech Update
There is little doubt now that the sector has to rally. It does not matter if the broader markets are weak or whatever, we have broken (at least temporally) the low end of the range. We closed above it yesterday and ended green but there is not a lot of room lower and to have […]
April 26th Biotech Update
An OK start to the week in terms of being green. It looks like we have broken the lower high trends and it would be great to get confirmation of that this week and even make a push at $140 in the XBI. I know it is easy to dump on the sector but honestly […]
March 25th Biotech Update
It is never easy, I guess. It is always darkest before the dawn. I am sure there are other phrases that could apply to the market at this point but the fact is that the sector is clearly struggling. We had the chance to set a higher high and perhaps get some momentum but that […]
March 3rd Biotech (and Energy) Update
The market has been rough. Not in that we have seen a ton of downside but more in terms of the whiplash we have seen. One day looks like a breakdown and the next looks like a breakout. I do not see any clear trend right now and until the market signals by moving out […]
February 19th Biotech Update
The sector really seems unable to bounce which seems to open up a move to $150. That being said I really think we are oversold in the near term and so it would really be a signal of disinterest in the sector if we continue to $150. In some ways, it sets up a pretty […]
February 5th Biotech Update
The market seems like the prototypical market at highs tends to make marginal new highs. If that is the case, then the assumption would be a continued slow grind higher until the elevator down correction. In some ways, it also means that we are unlikely to get those price dislocations that make for the really […]
January 8th Biotech Update
So the sector was doing well yesterday in the lead up to JPM and perhaps we get some early news today but the news yesterday was certainly not a good start and that might end up weighing on the sector (at least in the morning). Hopefully this is not a signal as to the type […]
November 11th Biotech Update
Below are my comments on the guidelines that you can forward along. So it looks like the market has digested the outcome of the election for the most part. I still think there is going to be a tug of war in terms of COVID with the vaccine news pushing the post-COVID names but […]
August 4th Biotech (and MLP) Update
Well, that was quite the bounce yesterday. The morning start off well especially given the lack of market moving news but then a grind higher turned into a run. I would look at the highs of July 27th and July 28th as key levels. Despite the great move, if we cannot break above those levels […]
