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 […]
April 7th Biotech Update
It has been an up and down week and while some of the moves felt trend like, i.e. that they would be part of a more sustained move to the upside or downside, it seems like the week is one of sideways. There are still two trading days to make the week one of green […]
April 6th Biotech Update
We had a good day and then a bad day and hopefully we have another good day. The sector is doing well (or at least better than it has been for a long time). It has been awhile since the sector looked to be setting up an uptrend and while we have been disappointed before, […]
April 1st Biotech Update
It is not an April Fools Day joke but the sector outperformed the broader markets for the March and I think was even barely green. While I think we would want more than barely green and would want an even greater outperformance, it has to be a positive sign for the sector to outperform in […]
March 31st Biotech Update
The sector looked like it was going to have a nice continuation day yesterday but the afternoon ended up being a mess. It is nice to see that it is not continued into this morning but we really do not want to start the pattern of green in the morning only to reverse later in […]
March 30th Biotech Update
The sector has had a good start to the week but we are not getting the big positive news that could really amp the move higher. As I noted the idea scenario would be this positive momentum to coincide with some sector meaningful positive news but not yet. This is not to say it is […]
March 25th Biotech Update
Still not a lot of news in the sector. I am encouraged that we continue to maintain this range and consolidate at these levels. The key next will be to break out of this range to the upside and ideally it is done on the back of some positive fundamental news (M&A or positive data […]
March 24th Biotech Update
The sector started weak and then had a nice recovery but then reverse back to the downside. I would not read too much into it as we basically remain in the range formed from the last move higher. As long as we do not make a move back towards the recent lows, we could see […]
March 23 Biotech Update
The sector seems to be in a decent place. This is not to say I am very bullish but it has been doing well and as long as it stays above $88 I think this could be a pause that refreshes. We have had a nice move to this range from the recent lows and […]
March 25th Biotech Update
Not much news this morning. The world is still here and while the stalemate continues in the Ukraine the lack of escalation probably keeps the market calm. There is still tremendous violence ongoing but at this point the market seems to have priced in the stalemate. I still think the stalemate breaks at some point […]
March 18th Biotech Update
It has been quite the week for the sector. We have been fooled before but I hesitate to say that this feels different. There was bad news in terms of the interest rate increase as well as signaling for more. There has not been really good company news this week and we still have a […]
March 17th Biotech Update
The stalemate in Ukraine likely remains good for the market. I am not convinced that the stalemate can last for months but it is more likely a week or two hiatus. As long as it looks like escalation is not happening or at risk of happening then the market looks the other way. Of course, […]
