December 18th Biotech Udate

It has been a little disappointing the follow through this week given the big M&A.  It is not a disaster of a response but certainly not as good as I was expecting.  We still have one day left so perhaps today can get us to new highs.  There has not been a lot of news […]

December 17th Biotech Update

I am a little surprised at the lack of follow through after Monday.  I expected the potential of a small retracement but then strength to return to the sector.  I am not willing to say the trading is indicating a near term top is in for the sector as we are still in a seasonally […]

December 16th Biotech Update

Well, we have had two red days in a row after Monday’s move.  I noted that we should be setup for a rally into the end of the year and that anything other than that bodes poorly in the near term.  So is it time to call it and in the short term?  Not quite […]

December 14th Biotech Update

We should certainly see all time highs this week to continue.  We are in a seasonally good period and the news is certainly supportive.  If we are unable to run off of this news it sends a strong signal.  Certainly we were already at highs but this news should bring even more buyers into the […]

December 10th Biotech Update

The sector is clearly doing well and there is some interesting news that perhaps bodes well heading into JPM and the end of the year.  We are not quite making news highs again today but the sector is feeling like it wants to and it really stands in stark contrast to the pandemic and economy.  […]

December 9th Biotech Update

The sector has not had the typical post-conference weakness, which is good to see.  Also, there have been a good set of secondaries with the sector still being strong.  It is not strange to see secondaries pop up during strong moves as that is pretty typical.  What is interesting is that we usually see these […]

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 […]

December 3rd Biotech (and MLP) Update

Sorry for the delay but we are dealing with kids that were exposed to COVID and having to get them tested and now they are back in virtual school.  I am sure many of you have dealt with similar (or worse) issues and thankfully for us it is just added time but it certainly has […]

December 1st Biotech Update

A strong start to the week that is continuing.  While certain sentiment measures are getting into danger territory, it still seems like the market has a little bit more room for running.  The uncertainty around the elections is waning and the Biden economic team seems to indicate a strong desire for fiscal stimulus.  We are […]

November 30th Biotech Update

As I have said there will be a tug of war in the market and so far vaccine hopes and seasonality are winning over the growing pandemic.  One really has to worry about an out of control pandemic combined with a holiday season but the market is not quite ready to worry about it.  I […]

November 23 Biotech Update

The market dynamics remain the same.  We are entering what tends to be a seasonally positive period of the year, which might add some tailwind to the broader market.  While I still think the market is going to focus on the prospects of the vaccine coming next year as opposed to the out of control […]

November 20th Biotech Update

I think choppy might have been the best description of the market at this point.  This makes sense give the competing influences on both the market and economy.  I would not be surprised to see this chop continue or perhaps even see some consolidation.  The broader market seems in a little more precarious position than […]

November 18th Biotech (and MLP) Update

So the market continues to look good including the sector that is pushing all time highs.  While I often say the trend is your friend (and it is), it might also be time to pull out another saying.  When markets are making all time highs, the most likely outcome is to continue to make marginal […]

November 16th Biotech Update

Another start to the week with some more vaccine announcements (positive).  It was good to see more positive vaccine data but it does not change the dynamic that I see with the market.  There appears to be a real light at the end of the tunnel but the path to the end will be very […]

November 13th Biotech Update

So its been a decent week and hopefully we can end on a strong note.  Not a lot of news to move the market or sector and perhaps that means we get a decent look at the underlying sentiment of the market.  We are past the major catalysts of November and there is really not […]

November 12th Biotech Update

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 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 […]

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 […]

November 5th Biotech Update

While we clearly do not have a clear winner from the election, it at least looks like the market has decided where the election is going.  If there was uncertainty over the outcome, then the market would not have rallied and volatility would not have dropped.  Given the pace of vote counting, it looks like […]

November 4th Biotech Update

The election is (sort of) over.  While it ended up being closer than the polls indicated, it appears that Biden will win barring some unprecedented court decision to invalidate large numbers of legally cast votes.  The closeness of the election, however, makes the Senate now lean Republican.  I suspect both Georgia contests will have to […]