Well, that was not a great day. Interest rates and risk off are not kind to the sector. As long as we can hold support I think we will be fine. I am not convinced that this is going to be a large and sustained sell off as opposed to a quick adjustment. I get […]
September 13th Biotech Update
Today is going to be a macro day. The CPI data was a little too hot for the market. While I think we have likely seen peak inflation, it probably takes time for it to really cool down and likely involves more rate hikes and a slowing down of the economy (if not recession). The […]
September 12th Biotech Update
A strong end to last week and it would be ideal for that to continue. The forecast is a little cloudy with some good and bad news out for some big stock. We also have a little lull in the M&A and so I am not sure what impact that has had or will have […]
September 9th Biotech Update
The market did well yesterday and hopefully we can build on that into the weekend. The ideal scenario is that old level that we broke out of ends up being the support that we use to move higher. Yesterday was a good start for that process but we need continuation. GILD announced some more detailed […]
September 8th Biotech Update
Sorry for the little break. I am hopefully back and at it. The sector has not done great but it does not look too bad either. There have been lower lows and lower highs, which signals a clear downtrend but it seems to have been pretty orderly and we are now back to the old […]
August 15th Biotech Update
A slow start to the week but that is not necessarily bad. The sector has been strong and there has been nothing to change it. I think the biggest news has been outside the sector with the decline in the Empire State index, but I imagine that might not been a massive surprise (perhaps the […]
August 10th Biotech Update
Did we have that pullback that refreshed? Sort of. We went down to what was resistance and have bounced but it was a quick little move. In some ways, a move down to the $87 level on the XBI would be the former resistance and I will be really looking to see if we make […]
August 8th Biotech Update
A good start to the week and it should continue the momentum for the sector. While I think we still can move on the news, it is also the case that the sector has had a nice run recently. Nothing goes up (or down forever) and the longer the run, the better the news has […]
August 4th Biotech Update
Are we finally starting to see the wheels of M&A loosen? Perhaps. We got some this morning as well as a new rumor. It is enough to move the sector (at least a little). We are definitely in a different spot as the news is actually moving the sector higher. It was not that long […]
August 3rd Biotech Update
We started the week at the bottom of the range and within three days we are at the top of the range. I find days like this a little tough to judge. Big positive moves like this make it feel like there is very strong momentum but when they smack against the top of a […]
August 1st Biotech Update
We have some more earnings this week but the lack of exciting launches to track make them a little less exciting. Of course, there could be some unexpected misses (see below) but I generally expect earnings to be more or less in than with expectations. The sector has been essentially rangebound the entire month […]
July 29th Biotech Update
I have had family in town that has changed my schedule and so it has been slow on the updates this week. There is growing optimism in the sector and I suspect that we could outperform the rest of the year. Maybe I am crazy but as long as the fundamentals do not crash in […]
July 21st Biotech Update
A slow week but a good week for the sector. We are entering earnings and that might provide a little boost or drag but it has been awhile since an earnings season really seemed to impact the sector. They can affect individual stocks but the quarters where you have broad read throughs seem to have […]
July 14th Biotech Update
The sector seems to be doing ok as we inch closer to earnings season. It will be interesting to see how the sector moves on earnings as there is nothing that should really surprise anyone. There are still some issues outside the companies that could impact trading. There is some drug pricing reforms being discussed […]
July 12th Biotech Update
No real news to start the week the juice the sector and so far we have simply followed the broader market lower. This could/should be the pullback that refreshes as we have had a nice run higher and a pullback to the $78 level makes sense. Of course that needs to hold and we need […]
July 8th Biotech Update
I am not sure if we end up green today or not but I think we are finally in a decent position for the sector. There is a virtuous position where a sector has outperformed but investor are underweighted it and so they are underperforming the market. They need to get into the sector to […]
July 7th Biotech Update
Are we going to get the deal? It looks like it and it looks like the sector is responding well. To be fair the sector was already doing well before the report, so this looks like a continuation of that move. I think it is relatively safe to say that the sector finally has created […]
July 5th Biotech Update
Not the ideal return from vacation for me or the end of a holiday extended weekend for everyone else. It would have been really nice to have started this week with a buyout but there really is not a ton of news to start the week. Ideally we can reverse this early weakness and build […]
June 21st Biotech Update
Are we finally getting some love in the sector? The market and sector were very oversold and we were due for a bounce in both. We seem to be getting some nice momentum in both (and I would add cryptocurrency which adds to my belief that it really might be a proxy now for risk […]
June 15th Biotech Update
So it is a good start to the morning and yesterday was OK in that we did not crash more. I would not really pay any attention to the morning moves as the more important trading action will be after the Fed announcement. Obviously expectations are for a rate hike and speculation is that it […]
