Guess what? The sector remains in its range and remains very frustrating for investors in the sector. Nothing particularly interesting this Monday to start the week. I sort of wonder if the range is narrowing a little as we did not really make a run at what was the upper end of the range and […]
November 12th Biotech Update
More of the same for the sector and nothing that compelling is coming out of SITC to spark interest. Without anything that could really change broad sentiment I expect continued grinding in the range. Obviously the range will not last forever but as long as we remain in the range we should assume that will […]
November 11th Biotech Update
I do not want to sound like a broken record but the sector remains in its range bouncing around. The breakout (or breakdown) will occur at some point but I do not think there is a predicable catalyst that we can point to as triggering the range break. The longer we go in this range […]
November 10th Biotech Update
Guess what, the sector remains range bound. We approached the upper end of the range and it was a pretty quick move to the upper end of the range but now we are pulling back. I thought there was a chance that the sector would get closer to the upper end of the range before […]
November 8th Biotech Update
We remain range bound with some weakness to end last week and some indecision to start this week. I still think we make a move to the upper end of this range at some point and I do not think the first attempt to breakout will be successful. It is possible but my running assumption […]
November 5th Biotech Update
We have an interesting setup for the sector. It looked for a bit like the momentum was going to take it to the upper end of the end where it would stall. It stalled yesterday fairly short of the upper end of the range. The selloff yesterday and this morning are sort of resetting the […]
November 4th Biotech Update
The sector has certainly strung a couple of good days together and it is probably in overbought territory as we approach the upper end of this long term range. The top of the range has been around the $137-$142 level and that seems like a pretty large ran for a top. Ideally we would want […]
November 3nd Biotech Update
The sector seems to be building some momentum (dare I say) but I guess it shows how low expectations were that two strong days in a row seems like such an accomplishment. We did get a drug price proposal in the bills in congress but it is a win for the sector. It allows […]
November 1st Biotech Update
A good start to the week but it is early in many ways. We would want to see this momentum build throughout the day and more importantly build across the days. The sector has had the occasional positive day but it has been a real struggle to string positive days together. Hopefully this is […]
October 29th Biotech Update
It was a good day for the sector yesterday and with generally positive earnings there is a chance we could build some momentum. Add to that the removal of the drug pricing reform threat (it came out yesterday that was removed as a source of funding) and you have the potential to develop momentum. Of […]
October 28th Biotech Update
The sector is being the sector. It really seems to be coiling for a big move as the range has been pretty tight. I think the concern is that the broader market might be due for a pullback and given how poor the sector has been what is going to happen if the broader market […]
October 27th Biotech Update
Would you be surprised to hear that we are basically trudging along in a sentiment mire where everyone hates the sector but its not making new lows? This really feels like a sector that has had everyone who wanted to sell sell-out their positions. We know that the sector is very underweighted but if we […]
October 25th Biotech Update
The sector continues its muddle. We are approaching earnings seasons but there are not any real launches that are exciting and M&A has picked up a little but clearly has not really sparked interest. It is a broken record to talk about the sentiment and how poor it has been. It is at the point […]
October 21st Biotech Update
It continues to be a benign week of trading the sector. I think the context matters in that given the underperformance even slow neutral weeks feels worse than it is. We are waiting for that solid move to the upside given how long and far the sector has underperformed. While it is tedious to have […]
October 20th Biotech Update
The sector feels like it is in a worse place than it actually is. I think the underperformance compared to the broader market is aggravating especially because this have been happening for awhile. All of that disappointment aside, the sector does not seem like it is going to breakdown but of course one worries what […]
October 18th Biotech Update
Not a great start to the week both in terms of news and trading. I think they are linked in that we had a series of bad news and that is impacting the sector. I do not think any of the news runs the risk of forcing a downside break but certainly it was not […]
October 15th Biotech Update
A muted start to the morning but hopefully we can build on some of the positive momentum from yesterday. It seems to me that the sector wants to get to that $130 level where it should be some resistance. I think that level is important in the near term but longer term it is that […]
October 14th Biotech Update
A good morning so far. It is certainly nice to see and ideally this is where we start to build some momentum. We seem to have had countless false starts but if you take a step back it almost looks as if this entire year (since about March) has been a range between $120 and […]
October 13th Biotech Update
Well, this week is not a disaster and that is positive. We have not built any momentum to the upside but we also do not seem on the verge of breaking down. We are inching closer to a seasonally positive period for the sector and so treading water and forming a base is not bad. […]
October 11th Biotech Update
Still fall break with the kids, so I will try and keep this focused. The sector is off to a good start this week and it is hard to know if this is simply following the broader market, a bounce from support, or a move from some positive news. It is likely a little of […]
