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 […]
November 22nd Biotech Update
We are limping into holiday, which I do not read all that much into it. Volumes and news are slow and as long as we end up above $72, I think we are in good shape. The issue would be a low volume selloff that breaks this mini-trend we have established. In that case, do […]
November 20th Biotech Update
It was a good end to the week and let us see how we start. I do not know how to really read the moves this week as I suspect it is going to be pretty slow on the news and the volume front. This morning is probably pretty indicative as to what we would […]
November 17th Biotech Update
I am going to keep this one short as there is not a ton of news, which is not surprising as we enter into the Thanksgiving holiday week. I think we certainly have had a good week, even though I sort of feel that it could have been better. The little loss of momentum yesterday […]
November 16th Biotech Update
It looks like we are breaking above the recent high and are setting up the potential of an actual uptrend. I would be cautious as we have been disappointed before, but this is about as good the sector has looked in a while. The gap between the sector performance and the broader market is very […]
November 14th Biotech Update
Yesterday did not start the way we wanted but it certainly ended much better. A red to green move down at the lower levels is a good sign that support is building. The next part of the process (if we can start to build a bull case) would be a continuation of that momentum, which […]
November 13th Biotech Update
We had a nice little reversal on Friday and that could set us up well into this week. We certainly need to build off of that move and have a solid week of green. We had some nice solid news this weekend on the data front that could stimulate some more fundamental interest in the […]
November 10th Biotech Update
Kind of a bad way to end the week but is it? The sector got hit with a double whammy of bad news plus Fed talk that was pretty hawkish on rates. So the two biggest issues for the sector were brought to the forefront and it pummeled the sector once again. I still think […]
November 9th Biotech Update
Is this a week of consolidation or the new high to be followed by a lower low? We have broken the clear trend lower that had been operating for the past 6 months but only marginally so. One could look at the chart and still see a basic downtrend as we made our way to […]
November 7th Biotech Update
It was not the best of Mondays but given the strength of last week, we were bound for a pullback. That being said, we are at a precarious point in that we hit resistance and pulled back. So in some ways this looks quite natural to pullback at this area but it also does leave […]
November 6th Biotech Update
Well, that was quite the week and end to the week. Why the sudden strong end to the week on top of a good week? The economy was weaker than expected. We are not close to a recession, but the data came in weaker than expected, which means rates could have peaked and the rising […]
November 2nd Biotech Update
The bounce continues but it still is not good enough to break the downtrend. This certainly feels good to be rallying but my base case remains that the trend continues until broken. The trend is down and while I intuitively think we are close to a bottom, I still think we need to be exceptionally […]
November 1st Biotech Update
The best sign for the overall market was the reversal on a day in which the SMID space could have been hammered by the SRPT news. The sector started lower but then recovered to end solidly green. That is a strong signal as to the overall health of the sector. That is not to say […]
October 31st Spooky Biotech Update
We had a nice start to the week and I thought we would have enough momentum to keep it going but the SRPT news might throw some cold water on the rally. Or it might be seen a specific enough to SRPT to not stop too much. This is actually a good signal as to […]
