I should leave more often as the sector has done OK in my absence. For good or ill, I am back and hopefully we can keep this strength and establish a more clear trend to the upside. I think there is more work to be done but we are at least in a position in […]
June 18th Biotech Update
Not the start to the week that we need, especially given the positive broader markets. We still have a marginally positive trend but the last thing we need is to show so really large underperformance to the broader market while we break the positive momentum that we were building. I wanted to drop a short […]
June 17th Biotech Update
It was not the best end to the week but taking a step back and looking at the sector, it does not look bad. There seems to be a little trend forming and assuming that we can bounce and move higher this week, it will strengthen that look in the chart. We are in a […]
June 12th Biotech Update
As perhaps the least surprising news of the day, inflation came in cooler than expected, rates are moving lower, and the sector seems to be rallying. While perhaps the lower inflation is a bit of a surprise, the reaction should not surprise anyone as this has been the relationship for a couple of years. I […]
June 10th Biotech Update
Keeping on the theme of griding we continue to work through the ASCO and other data. The sector is still going to be linked to rates and the Fed but given that we are not in a place for rates to go down, we are looking likely to grind away at these levels. I thought […]
June 5th Biotech Update
Not a bad start to the week. It is a nice little move higher but we are still in a grinding sort of market. I am perfectly content to let the sector build a nice long base at these levels. Of course, these can be double edged swords. It will be a very strong base […]
June 3rd Biotech Update
We are sort of hanging out at these levels. Perhaps we have a modest little downtrend but I sort of see the sector more in a holding pattern more than anything else. I know we are waiting for inflation and rates to move down and our expectations are that it helps the sector. What if […]
May 31st Biotech Update
Nothing really to add on the sector or market in general. It is all about inflation and rates and will be so for the foreseeable future. The sector has been struggling a little and I think probably a little more than I would have originally expected. I understand that rates are heading up a little […]
May 29th Biotech Update
There is not a lot to say about the broader sector or even the broader market. It seems like anyone who wants to go long is buying NVDA and semis and every other sector is being impacted by the higher rates. I am not convinced that the move higher in rates is sustainable as I […]
May 28th Biotech Update
There was not a lot of interest in the sector in front of a long weekend. That is somewhat interesting as usually a long weekend sparks dreams of potential deals being finished. While M&A has been fine this year, there does not seem to be the level of excitement or interest that we have seen […]
May 22nd Biotech Update
We are hanging out. I do feel like there is a little more interest in the sector than has been and obviously it is related to rates. They have trended down recently, and the talk is that CPI should be cooling off as well. The FED has not really changed its tone a lot and […]
May 20th Biotech Update
It is sort of a low new week to start off and I will simply be following up on some older news that slipped through the cracks as I do not see anything really pressing this morning. Ideally we will continue our move higher and build some real momentum in the sector but there is […]
May 17th Biotech Update
It has been a pretty good week for the sector with a nice steady move higher. It has not be an absolute straight line nor has it been dramatic one but a slow build higher is not too bad. In some ways, this is better than an accelerating move as this provides more volume at […]
May 15th Biotech Update
This week has not been too bad for the sector. Perhaps my original thought about steady rates being good for the sector will actually pan out. Of course, that all can change with the next CPI number of Fed talk and so we are still very tied to the broader rate environment (at least that […]
May 13th Biotech Update
While my idea that steady rates would provide some room for the sector to recover and potentially move higher is not quite working out. Steady rates are not bad for the sector but I still think there are worries about the rate environment and perhaps we need to see a little more confidence that inflation […]
May 10th Biotech Update
Not the best of weeks but also not the worst of weeks. It would have been ideal to get some momentum to the upside but grinding volume at this level is not awful for the longer term. Of course, if the next move is significantly lower then this ends up being a level of resistance […]
May 8th Biotech Update
It has been a grinding sort of week. I do not necessarily see hanging around these levels as necessary bad. Putting in some time to generate some support is good but that assumes that we eventually continue higher. I am sort of getting my wish of stable rates. There seems to be a growing view […]
May 6th Biotech Update
It would have been nice to build on the momentum of last week, but we did not. Perhaps this is the pause that refreshes or perhaps we get strength later in the day, but it is not the ideal start to the week with the broader markets showing some strength. To be fair, it was […]
May 3rd Biotech Update
Well, the Fed was not a disaster for the sector and in many ways it worked out well (at least on Fed day). This has generally been a decent week for the sector and while part of that is related to the fundamentals, I still think we are tied to interest rates and the lack […]
May 1st Biotech Update
I would not say that we got momentum but trading in line with the market (if not a little better in parts) is not the worst scenario. I will continue to be a broken record with my call on rates and that once they stabilize they sector will finally start to trade more on fundamentals […]
