The market is a mess. We had treasuries invert on Friday, which is a favorite signal of an impending recession. To be fair the treasury inversion over predicts recessions and so there have been many instances where nothing happened after an inversion. All that being said rising rates and high inflation is probably bound to […]
June 8th Biotech Update
I guess I brought some good vibes back from my vacation. I still would say that we are not ever close to saying that an uptrend is in play but these strong days are the necessary condition to start that trend. We are at a level where additional upside gets us starting to think more […]
June 7th Biotech Update
I am back from my little vacation and have some catching up to do. The sector seems to be looking for direction as it bounced around from my perspective. I did not follow its movements closely but from the distance of the beach it looks as if the sector has not made a decision to […]
May 27th Biotech Update
This week has been a little disappointing. Not in the typical we crashed to new lows disappointing but the general market has done well but the sector has lagged. As disappointing as the week has been, we are still sort of setup to make a higher low and potentially a higher high. So I understand […]
May 25th Biotech Update
It looked as though the sector tried to reverse a couple of times but it ended up being a red day. It would have been nice to get a good red to green reversal with follow through today but at least we are starting green today. It is important to have a good day today […]
May 24th Biotech Update
It was a good start to the week but the yo-yo continues. I think if the broader market was not weak that the sector would be forming an uptrend. For the first time in a long time it feels like the sector wants to outperform the broader market. Our issue is that the broader market […]
May 20th Biotech Update
This will just be a quick note as I have to go to an event at my kid’s school. We had a nice day yesterday and hopefully we can build on that and get some real momentum. Ideally we want to set that higher low and then make that higher high. It has been awhile […]
May 19th Biotech Update
A little pullback to consolidate is fine. The absolutely semi-crash the other day is something else. The market is clearly on edge and the sector is included. The nice thing is that we did not breakdown to new lows and so if we can somehow recover then perhaps we establish a higher low. I would […]
May 18th Biotech Update
The sector had been strong and that is nice to see. It was especially interesting to see the sector strength (and market for that matter) when the Fed is talking. Usually those are guaranteed red days. Perhaps the sector is becoming a little more immunized against Fed talk. Of course, just when you think the […]
May 16th Biotech Update
Last week was an interesting one. We had a lot of hope with the M&A and the strong reaction to it and then disaster as the market continued its weakness and the sector with it. We then rallied at the end of the week. Taking a step back and looking and the week overall it […]
May 10th Biotech Update
This should be it. The sector has been oversold and very stretched to the downside and was due for a bounce. Today we finally see some significant M&A and this should trigger a nice multi-day rally. If this deal cannot move the sector in a meaningful way when it is oversold then I do not […]
May 9th Biotech Update
The sector continues to be a complete mess along with the broader market. We are at multi-year lows and this move lower has been relentless. I am sounding like a broken record but this has to see a dead cat bounce at some point. Of course, the one thing the sector has not done is […]
May 3rd Biotech Update
So we had a late day rally yesterday and I am not sure what to think about it. I sort of prefer the weak Monday and gap down Tuesday morning to reverse green sort of setups. It was nice to see the sector rally on what was a group of bad news but with […]
May 2nd Biotech Update
The sector and market continue to do poorly. We are getting close to at least a short term bottom as the move lower has been pretty quick and relentless. Obviously the pattern is for these to be pauses before another move lower but the first thing we need is to at least stop the bleeding. […]
April 29th Biotech Update
We remain stuck in that I think the sector is gong to move with the broader market and the broader market is not good at this point. I would think both the sector and broader market were oversold in the short term and due for at least a dead cat bounce and yesterday looked to […]
April 28th Biotech Update
Well, the sector and market is a mess right now. This makes it an interesting earning season as we have to content not just with what the quarterly results are telling us but also in an uncertain economic background. The US GDP unexpectedly contracted, although it might be overstating the weakness of the economy as […]
April 26th Biotech Update
Sorry I have been away for a bit but life outside of biotech has been very complicated and all consuming. I am hopefully more able to focus on biotech going forward but we will see. It seems like the sector has been just as difficult as well and that is disappointing as it was setting […]
April 20th Biotech Update
The sector once again shows it brutal head and what seemed like a nice opportunity to build momentum and excitement to the upside gets reversed. While we have not broken to new lows we are certainly approaching the bottom of what could be seen as a channel. The $80s are going to be critical to […]
April 13th Biotech Update
We had a chance to build some nice momentum and yet we failed once again. To be fair the broader markets have not been that conducive so it is not as if this is a sector specific move but it is yet another disappointment in a long line of disappointments. The sector can still save […]
April 8th Biotech Update
While it looked like today was going to be a flat week of consolidation, the last couple of days have been a disappointment and this is more of a pullback sort of week. Pullbacks are not bad per se as long as it stays above support and I think if we stay above $90 and […]
