A relatively slow start to the week both in terms of news and trading. Last week we had a lot of large cap earnings and earing season continues but Mondays tend to be a little slow on the reports. We started the day red and are struggling to get to green. That would be a […]
February 3rd Biotech Update
I think I was right that we were entering a new uptrend but it still looked like we were in the range. It seems like we are in the process of breaking out but we still need to retest the old resistance and make sure it is new support. Whether we need to run higher […]
February 1st Biotech Update
Yesterday was an interesting day. I took a step back and looked at the chart and while you might think I am crazy, if you squint in the right way it looks like we have already broken out. Maybe. If we use $87 as the top of the range, then we broke above it on […]
January 30th Biotech Update
I feel like a broken record as we start yet another week with the potential to break out to the upside but not the best start in that attempt. There is not a lot to cover today, so it will be quick but we do have earnings that could be an excuse for the move […]
January 27th Biotech Update
The sector is teasing us. I thought this week had the potential to see a breakout and we are right at the levels. It would be nice to see a clear move above resistance and then a back test in the next week or two to confirm. We have earnings upcoming and that will either […]
January 25th Biotech Update
Are we setting up for that breakout? Just like last week we are in the position to do so but remember last week we ended up failing. While I am not sure there is any fundamental reason for us to breakout as there is not a ton of new, I do get the sense that […]
January 22nd Biotech Update
We might have another week where we can break out. Last week we certainly had a chance but fell short. The rally to end the week, however, put us in range to make another attempt. We have been spending a lot of time at the top of the range recently and I tend to think […]
Aptose – Path Forward in 2023 With AML “Triplet Therapy”
I had a zoom meeting with Aptose’s CEO and CFO as well, to get updates regarding the new follow-up clinical trials and the timeline in 2023. The CEO was well excited with the move to the new trial in mono & combo with Venetoclax. The 1st mono therapy with 120mg (that has already started) should […]
January 20th Biotech Update
We had our chance but the trend has remained our friend and we remain stuck in the range. It was not unexpected but still a little disappointing as it would have been nice to get that breakout. I do not think it makes a breakdown more likely but the grind in the range continues and […]
January 18th Biotech Update
Not the best start to the week but to be honest, it is not surprising that we get some weakness as we were stretched to the top of the trading range. I still would not rule out of break this week but the chart probably needed to reset the overbought conditions in the near term. […]
January 17th Biotech Update
Is this the moment of truth for the sector? Do we finally break out of the range and do so to the upside? We are at the upper end of the range with some good momentum and so this is probably the best chance we have had in awhile. To be clear I am not […]
January 12th Biotech Update
The sector is setting up in an interesting manner. JPM weeks that have a red Monday tend to have a red week but we have been strong since then. Of course, there is a broader market strength that is probably helping the sector to a significant extend because the news has not been bad just […]
January 10th Biotech Update
A rough start to the week. I suspect it was a combination of a little bit of underwhelming JPM news and worries about the Fed and Macro. Yes, there were deals and data and generally the news out of JPM was good but there was nothing that was ground breaking or thesis changing (in a […]
January 9th Biotech Update
A good start for JPM with deals and data. That should be positive for the sector, although I would say that all of the deals seem more bolt-on than transformative. I will be interested to see how it ends up playing out as there is certainly good news but nothing that is massive. All that […]
January 5th Biotech Update
A nice little recovery from a bad start to the year but I must sound like a broken record at this point- we remain in the range and we have to assume that we will until proven otherwise. We seem to be on our way to the upper end of the range and perhaps JPM […]
January 4th Biotech Update
Not the best start to the year but we still remain in that range. I will be more interested to see how the sector trades next week as we get closer to JPM. I suspect the market is getting hit by both the Fed worries (I have to imagine that this impact lessens as the […]
January 3rd Biotech Update
It is a New Year and two paths diverge in the sector. One would be an unprecedented third year in a row of decline and the second would be the first up year after back to back declines. I am going to use the next couple days to delineate my predictions for 2023. LLY […]
December 29th Biotech Update (Prediction reviews)
We end the year hopefully on an up note but nothing has really changed about the sector. We are range bound and a drifting in the range. The length of time spent in this range really makes it into really strong support or resistance for the move. It makes me think that when we do […]
December 29th Biotech Update (Review of my first 5 2022 predictions)
As the year wraps up it might be time to go back through my predictions for 2022 as I get the 10 ready for 2023. It can be a little humbling as one is not always as right as one would have hoped but I will review 5 today and 5 tomorrow. Prediction 1 The […]
December 28th Biotech Update
Not a great start to the week but we remain in a range and rangebound. We are back at the bottom of that range and I do not see anything in the sector that should break us out one way or another. If anything, I think we start to drift a little higher as we […]
