I would not say that we are at the end of the chop for the sector but are probably closer to the end than the beginning. I saw some notes that blamed the lack of rate cuts on the market but I am not sure that is the issue. It is true that rates remain […]
January 31st Biotech Update
We seem to be doing a little better today but not really getting any momentum to the upside. We have an upcoming rate decision but I doubt that will be market moving unless the commentary comes out unexpectedly bullish or bearish on rates. I suspect it will be continue to follow the data and while […]
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 […]
June 22nd Biotech Update
Incremental. That would be the word I use to describe the action in the sector outside of the big down day earlier in the week. I do not read this as necessarily bad as there has been ample opportunity to accelerate the move lower given we are hanging out at these levels but that follow […]
Nov 18th Biotech Update
Today should be a good day. We were near the bottom end of the range where support should exist and the sector was oversold. As such, we were probably likely to bounce and today we got some M&A. While the deal was itself not a massive deal the timing works out for the sector to […]
January 9 Biotech Update
While yesterday was not a good day for the sector, it certainly could have been worse. The commentary out of the trading desks was that the early selling was hedge funds (fast money) who were positioned long expecting more M&A and then the modest recovery was long only funds coming in to position for a […]
June 7- EOD
[This was meant to be posted Friday afternoon but did not seem to go through, so you get a bonus EOD of today] I do not think there is not much out there to add from today. I will touch on a couple of themes but it was generally a bounce back day for the […]
