The sector has been interesting. Given the past 18 months, it feels easy to be bearish on every pullback consolidation but I am incrementally more positive. It is starting to feel more like a pause at an important level of resistance as opposed to the start of a large retracement. Obviously we likely need some […]
March 8 Biotech Update
I was not too busy to write yesterday but there was really nothing that I could find that was interesting enough to write about. I looked for something and there was a big lack of company specific news and that is the case today as well. We are a little too early to talk about […]
March 6 Biotech Update
There is a little bit of news to start the week but nothing that likely seems thesis changing or will have a dramatic impact on sentiment/trends. We are in the tail end of earnings with a drum beat of small caps that might have some impact on the individuals companies but little on the sector. […]
March 3 Biotech Update
I think the sector has been rational the past couple of days in that good news is generally moving stocks higher and bad news lower. If there was a broader trend I would say weak but it almost seems out of sync with the broader market. When the broader market rallied the sector lagged and […]
March 1 Biotech Update
Not a lot of news the past couple of days but certainly some interesting events to talk about. I will focus on two but more generally the sector is doing well. There seems to be some more interest in the sector and the move in CELG might be that early warning signal of generalist interest […]
February 27 Biotech Update
I have snuck into work during this Mardi Gras break but not much to write on so this will be a quick update and will likely be back later in the week. 1. ONCS held up better than I thought it would and with the fast track news today and KOL talk tomorrow, I will […]
February 24 Biotech Update
Weakness (sort of) continuing in the sector but perhaps that is simply drifting or consolidation after its recent performance. In either case, it still seems like people are unwilling to fully commit to the sector and my early warning signal of generalist entrance (and likely sustained outperformance) will be outperformance of CELG. That is a […]
February 22 Biotech Update
A little bit of news since yesterday and I will focus on them but more broadly the sector seemed to struggle yesterday. It had been outperforming so a day of relative weakness is not unexpected but was certainly a sell biotech and buy everything else sort of day. Let us see if that pattern continues […]
February 21 Biotech Update
Long weekend and a significant lack of news. I do not think there was an expectation of big news but sometimes these long weekends can surprise with a flurry of mergers- not today. Without anything major I will do a series of quick hits on the news since last Friday. Market is doing well to […]
February 17 Biotech Update
Some news to talk about today in a couple stocks and one idea I want to float that has been ruminating in my mind. The sector continues to do well as is the market in general. There has been some talk that the melt up is related to a massive synthetic short position in the […]
February 15 Biotech Update
We have some additional news yesterday but nothing that is necessarily positive for the sector. It certainly rallied in the afternoon and I suspect there is enough juice left for that to continue. Of course, we are only one tweet away from a pullback but I guess that is true of every sector and stock. […]
February 14 Biotech Update
Some decent news this morning for the sector but not quite a robust reaction. Perhaps the sector needs to pause after its recent run or perhaps it will rally later but I would have expected a little more follow through. It is still early and regardless of the price action the sector needs to continue […]
February 13 Biotech Update
A relatively slow start to the week, so I will start off with perhaps the most (maybe only) meaningful fundamental news and then highlight another stock that is very likely under the radar. We have a couple of investor conferences which tend to focus on small caps, so there could be some pick up in […]
February 10 Biotech Update
So I think we need to be prepared for some more backlash and bad press given the decision by Marathon to think it is business as usual. So far the backlash has been isolated but it is difficult to see this not become a political talking point. 1. Marathon licensed an old, generic steroid (DFZ) […]
February 8 Biotech Update
Certainly some news for the sector and not great news but it seems to be having limited impact on the broader sector. In other words, people seem to be seeing GILD problems as isolated to GILD and not the broader sector but that is certainly something we need to watch. 1. I am very glad […]
February 7 Biotech Update
The sector (and I guess you could argue the market in general) has been pretty dull the past couple of days. During the past year these periods of no news led to a slow grind lower but it seems that the sector is holding up well if not grinding a little higher. It is only […]
February 3 Biotech Update
I was correct in my prediction that I would need to take care of a sick child (and still need to do so today but have some more time). It has been an interesting week but pretty much expected. I will circle around to what I saw as the most interesting and important events. 1. […]
January 31 Biotech Update
We had some earnings but the real potential mover of the sector is the meeting this morning with Trump. The headlines are still early but it looks like a net positive for the sector but we will see how it is interpreted. If history repeats these meetings tend to see some minor announced concession in […]
January 30 Biotech Update
Volatility is the name of the game with the daily flow of disruptive executive orders coming out of Washington but despite this the VIX has been going down and the market in general has been holding up well. At some point this disconnect will correct and it will not be a simple gap down (or […]
January 27 Biotech Update
We obviously got some news and price action but most of it is explainable and somewhat predictable. I will highlight some of the news and focus on the BMY report as that seems to have generated the most discussion. 1. We had the buyout of ALIOY a lot sooner than I expected at a lot […]
