February 1st Biotech Update

Yesterday was an interesting day.  I took a step back and looked at the chart and while you might think I am crazy, if you squint in the right way it looks like we have already broken out.  Maybe.  If we use $87 as the top of the range, then we broke above it on […]

January 30th Biotech Update

I feel like a broken record as we start yet another week with the potential to break out to the upside but not the best start in that attempt.  There is not a lot to cover today, so it will be quick but we do have earnings that could be an excuse for the move […]

January 27th Biotech Update

The sector is teasing us.  I thought this week had the potential to see a breakout and we are right at the levels.  It would be nice to see a clear move above resistance and then a back test in the next week or two to confirm.  We have earnings upcoming and that will either […]

January 25th Biotech Update

Are we setting up for that breakout?  Just like last week we are in the position to do so but remember last week we ended up failing.  While I am not sure there is any fundamental reason for us to breakout as there is not a ton of new, I do get the sense that […]

January 22nd Biotech Update

We might have another week where we can break out.  Last week we certainly had a chance but fell short.  The rally to end the week, however, put us in range to make another attempt.  We have been spending a lot of time at the top of the range recently and I tend to think […]

January 20th Biotech Update

We had our chance but the trend has remained our friend and we remain stuck in the range.  It was not unexpected but still a little disappointing as it would have been nice to get that breakout.  I do not think it makes a breakdown more likely but the grind in the range continues and […]

January 18th Biotech Update

Not the best start to the week but to be honest, it is not surprising that we get some weakness as we were stretched to the top of the trading range.  I still would not rule out of break this week but the chart probably needed to reset the overbought conditions in the near term.  […]

January 17th Biotech Update

Is this the moment of truth for the sector?  Do we finally break out of the range and do so to the upside? We are at the upper end of the range with some good momentum and so this is probably the best chance we have had in awhile.  To be clear I am not […]

January 12th Biotech Update

The sector is setting up in an interesting manner.  JPM weeks that have a red Monday tend to have a red week but we have been strong since then.  Of course, there is a broader market strength that is probably helping the sector to a significant extend because the news has not been bad just […]

January 10th Biotech Update

A rough start to the week.  I suspect it was a combination of a little bit of underwhelming JPM news and worries about the Fed and Macro.  Yes, there were deals and data and generally the news out of JPM was good but there was nothing that was ground breaking or thesis changing (in 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 […]

January 5th Biotech Update

A nice little recovery from a bad start to the year but I must sound like a broken record at this point- we remain in the range and we have to assume that we will until proven otherwise.  We seem to be on our way to the upper end of the range and perhaps JPM […]

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 […]

January 3rd Biotech Update

It is a New Year and two paths diverge in the sector.  One would be an unprecedented third year in a row of decline and the second would be the first up year after back to back declines.  I am going to use the next couple days to delineate my predictions for 2023.   LLY […]

December 28th Biotech Update

Not a great start to the week but we remain in a range and rangebound.  We are back at the bottom of that range and I do not see anything in the sector that should break us out one way or another.  If anything, I think we start to drift a little higher as we […]

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 […]

December 20th Biotech Update

It was not a great start to the week.  We still remain in that range and what we want to avoid is a low volume breakdown of that range.  I do not think it would signal a clear breakdown if that were to occur, but it would put the sector teetering on the edge.  Ideally, […]

December 19th Biotech Update

Not the best start to the week but we continue to be in that range and as trading dries up this week, I doubt we get a massive high volume breakdown or breakout.  We are at the lower end of the range and perhaps there is a little more downside, but we likely bounce back […]