I am back after my three day trip to NYC and while it seemed that the sector took a hit, today’s action seems to be a good start to recapture a lot of the losses. My point is not that the pullback was insignificant but more that it seems more like a pause/pullback that refreshes […]
July 14 Biotech Update
It was a mixed day in the market as the broader market seemed good but biotechs seemed more mixed. I am not sure these is much to make out of it as the key over the next couple of weeks will be earnings (at least for the larger biotechs) and then once we get through […]
July 11 Biotech Update
Despite a weak macro market, biotechs actually performed pretty well yesterday. That was a surprise albeit a pleasant one. Clearly biotech has its mojo back as three or four months ago, the sector would have been down 5% on a day like yesterday. I have been talking about reactions to earnings as a signal about […]
July 10 Biotech Update
It was clearly a bad day in the market and the sector. It is looking more and more likely that the long anticipated correction is here and the question now is how deep of a correction and how long will it last? I would not be surprised to see at least a 5% correction in […]
July 9 Biotech Update
The market was better today but this is not surprising that we get a breather after the two day sell off. The key is what happens in the afternoon and tomorrow. In other words, we cannot know if this is simply a dead cat bounce before more selling or the end of a quick downdraft. […]
July 8 Biotech Update
Again there is not a lot of news outside of a marginally raised offer for SHPG but clearly the market is selling off. Is this the long awaited correction that I have been talking about? Perhaps. I think we need to see how stocks react to earnings to get a real sense. If stocks are […]
July 7 Biotech Update
So a relatively weak day in the markets but really nothing much going on and it seems more like another day of the summer doldrums. I think the vast majority of days are going to be like this with some to the upside and some to the downside. At some point, there will be some […]
July 3 Biotech Update
It seems like a very slow day in the market as not a lot of news outside of the macro data, which was positive. The sector seemed to drag a little this morning but I would certainly not read anything into the move today given the volume and the morning heading into an early close […]
July 2 Biotech Update
A tough end to USA soccer in the World Cup but another good morning for biotech stocks. I have some follow up discussion from earlier this week as there is not a ton of new news this morning. I suspect that will be the case as we get closer to the long weekend (but we, […]
July 1 Biotech Update
It was a good morning in the sector with some positive news and momentum, although we seemed to have faded a little. As I have been saying for awhile, I think the sector has a good shot to hit new all-time highs as long as the macro environment does not turn bearish. I do not […]
June 30 Biotech Update- Back in the Saddle Again
Vacation is over and I am back to the grind (although I cannot really call what I do a grind as it is enjoyable). This is extra early today as I have a lot of catching up to do today and wanted to get some thoughts out there before I get caught up in other […]
June 20 Biotech Update
I am glad that I did not miss too much yesterday but it is usually the case that a day or week off does not dramatically change your perspective. It was another good morning for biotechs and I still believe that we are going to make a run at the all-time sector highs if the […]
June 18 Biotech Update
The sector (and market really) has been choppy since late yesterday morning. I would not read anything into these movements as it is a combination of low volume summer doldrums and the lack of any strong short term trend. As I have been saying for awhile, there will be a positive bias to trading for […]
June 17 Biotech Update
The sector continues to do well and if the broader market correction holds off we may be making a move to all-time highs but I would remain cautious. In any case, the sector seems healthy at this point despite heading into the summer doldrums and a seasonally weak period. 1. So the one name I […]
June 16 Biotech Update- Good Data at EHA
A generally good start to the week for the sector with perhaps the good data out of EHA providing a nice early bump to sentiment. It seems to me that EHA was much more significant for small caps and biotech this year than ASCO despite getting a lot less play heading into the weekend. So […]
June 13 Biotech Update
This is going to be a quick update as there is not a lot of new in the market and I have a busy morning and afternoon. That being said there are two pieces of news that I thought was interesting and worth writing about. 1. CELG opted in and grabbed the global license for […]
June 5 Biotech Update
The market looks like it is teetering on the edge and perhaps it is the ISIS march across northern Iraq that will be the impetus to send it into the correction. What is interesting is that the biotech sector has held up well in this market weakness (although the weakness has been relatively minor at […]
June 11 Biotech Update
Another relatively slow summer day in the market in terms of trading but the sector seemed to outperform the broader market. Even with that marginal outperformance, I would not read anything new into in that I still believe that the macro is going to drive the next move. That being said I would not be […]
June 10 Biotech Update
Yesterday was a busy day and ended up being a little crazier than I planned but I am not back in the office and ready to think about some biotech. I did not have a chance to check the market yesterday so I am not sure how it traded but it seems like it is […]
June 6 Biotech Update
Today was the first day in a little while that the sector seemed noticeably weaker than the broader market. Perhaps this is simply natural variability, perhaps it is simply a slow trading day with random price action, or perhaps it is an early warning signal for a broader market correction. What seemed interesting is that […]
