It has gotten a little rough for the sector. Where I thought we could ideally build on a potential breakout and setup a nice positive trend, the sector looks like it has failed to establish that new trend higher. We are back to the old range and leaves it up in the air as to […]
February 17th Biotech Update
Just as we thought we were getting cleared of the Fed, they interjected themselves into the market again with perhaps longer rate hikes and perhaps even faster. Whether that comes to pass or not remains to be seen but the market did not quite have the more hawkish tone priced into the valuations. I do […]
February 15th Biotech Update
It is not the best start so far to the week but it certainly is not bad. We still have the chance to rally and I am a little encouraged by the market reaction to the hotter than expected CPI numbers. It seems to me more signals that inflation and the Fed are losing their […]
February 13th Biotech Update
Not the greatest way to end the week as we clearly did not get that higher low that was the potential. We still could get a nice little trend, but we cannot get any lower. There is also a potential that we get back to the lower end of the old range, which would make […]
February 8th Biotech Update
It remains a slow week in terms of news and the sector has pulled back a little. Given the Fed talk the other day, I can live with the little pullback and if take a larger view then yesterday could be another higher low. Obviously we need to stay above it moving forward but there […]
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 […]
February 3rd Biotech Update
I think I was right that we were entering a new uptrend but it still looked like we were in the range. It seems like we are in the process of breaking out but we still need to retest the old resistance and make sure it is new support. Whether we need to run higher […]
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 […]
