JPM is over and it was an OK conference. It was not the best with deals but there was a big group right before the conference and so all in it was a hefty amount of deals. The conference appeared one of the more upbeat in recent years and that bodes well. I think we […]
January 11th Biotech Update
JPM has been a little slow on the news front. There were a couple of small deals and some rumors of others, but it really looks like December was the real flood of M&A as opposed to JPM. If we look at the past month or so, then the deals have been quite robust, just […]
January 8th Biotech Update
I got dismissed early for the day from jury duty (have to be back bright and early tomorrow) and so I wanted to get some quick thoughts on the start of JPM week, so I do not get too far behind. The sector started off a little weak but came back strong in the afternoon. […]
January 5th Biotech Update
We are slowing into the end of the week, which makes sense for the sector as we gear up for JPM. We have had a slowdown in the upside momentum but that it not bad as it gives the chart time to reset and work off the overbought conditions. It was an incredibly strong run […]
January 3rd Biotech Update
A decent start to the trading of the year. Are we looking a little toppy? Perhaps. I am not a fan of the sector not ending at the highs of the day. We still were green but we were stronger earlier in the day than later. I would not be stunned if the sector paused […]
January 2nd Biotech Update
A decent start to the new year. We are near the highs for the sector and are setting up a potential breakout. I am not sure that it happens this week but could very well happen with JPM related news starting later this week. I know that JPM starts next week but sometimes companies like […]
December 28th Biotech Update
The sector remains strong. It feels good to be talking about the continued strength longer than one would have expected. I would still be cautious about new positions as the chart looks a little stretched. I do not think we are anywhere near the end of this bull market, but all bull markets need time […]
December 27th Biotech Update
It has been one nice of a run for the sector and it looks almost straight up since the bottom. This is a case of chasing and FOMO into the end of the year. In the middle of November, I do not think anyone was saying we would be ending the year close to 52-week […]
December 26th Biotech Update
We are ending the year with a bang. It looks like a lot of companies are wanting to get ahead of the JPM news cycle and are announcing deals pretty early. I do wonder now what this means for the JPM hype cycle as it we now have had a good number of larger bolt […]
December 21st Biotech Update
Not the best day for the sector as trading slows down closer to the holidays. I had been thinking we pullback further but even a 1% decline basically keeps us in this sideways range and then the afternoon happened. It was not clear why the market suddenly decided to correct through price, but I was […]
December 19th Biotech Update
The sector has been holding up pretty well. I have been in the camp that we are going to have a little correction via price in the near term (I think down to around the $81 level looks like solid support) but up to this point the correction have been through time (sideways trading as […]
December 18th Biotech Update
We have had quite the run the past couple of weeks. I think news probably begins to slow as we approach the end of the year and as companies perhaps start saving news for JPM. Obviously, there are limits as to how long you can sit on material news but companies do like to hit […]
December 14th Biotech Update
News is going to start slowing as we get closer to the holiday and new year. That being said we are having some very nice momentum to end the year. This is probably the strongest we have been for a long time. It seems clear that rates have peaked, and the next move will be […]
December 12th Biotech Update
I think we have a good broader market sentiment. I sort of thought we would have a little more weakness to start the week but we held in there better than I expected. I would still not be stunned to see a pullback to reset the charts from what should be an overbought condition but […]
December 11th Biotech Update
The sector has had a great run. Positive news and increasing confidence that rates have topped were a nice combination. I do think there is likely going to be a short-term pause to the move higher as the sector looks a bit overbought. I would not be stunned to see a pullback to the $73-$75 […]
December 6th Biotech Update
The sector continues to look healthy into the end of the year. I thought this might be a week of pullback but so far it looks more like a week of pause. Both of these scenarios would be healthy but if we are pausing then it could take a little more time for the overbought […]
December 4th Biotech Update
It was a nice end to the week. I suspect that we should have a little follow up but we are probably due for a pause sooner rather than later. Although it might not feel like it but we are up 20%+ from the recent lows. I am sure we all feel that the sector […]
December 1st Biotech Update
We the news that we needed to really push the sector higher with a large oncology deal. Now the move is good to see and certainly adds some nice momentum to the sector but ideally we would want that to last a couple of days. One day spike higher and then giving it back over […]
November 29th Biotech Update
Not the greatest start to the week but also not the worst. No significant green bars but we also seem to have hit some area of support each day and rallied. As long as that trend is maintained this is not a bad situation. One could be looking at the development of support at these […]
November 27th Biotech Update
There is really not a lot to talk about. The news coming out of the holiday is pretty slow. I will keep this short as we continue to setup the end of the year. It will be interesting to see what happens with the competing pressure in the sector with some tailwinds as rates seem […]
