Not much going on except broad and general selling (at least early). It seems like we are in one of those bizarro times where good economic data are bad for the market because it makes rate increases appear more likely and sooner. This action tends to be temporary as expectations for rate hikes can change […]
June 4 Biotech Update
The sector is not doing great but also not significantly pulling back (broader market is lower but also pretty choppy). The large caps appeared weak again and this is still something that we want to follow. The biggest underperformer was CELG and the news after the bell perhaps explains it but that seems like a […]
May 26 Biotech Update
What a bad start to the week and by bad I mean slow. The only sound we heard this morning was crickets. Nothing to move the sector in terms of data and nothing on the M&A front (perhaps this is the calm before an ASCO storm). Given the dearth of news and a negative broader […]
May 21 Biotech Update
It is a similar start to the trading day with the market sort of flat with the sector a little lower (with notable exceptions which will be discussed below). It was encouraging yesterday that the sector got stronger throughout the day. We were stuck in a pattern with gap higher in the morning and then […]
April 6 Biotech Update
I have not had a chance to follow the market last week, so I do not really have a sense how the sector is doing. It looks like it has been more of the same with weakness and large caps trudging along and unable to generate any real leadership. The sector is certainly lagging the […]
February 18 Biotech Update
I am back after a small break and I hope that nobody missed me. The market certainly did not miss me as not much has really happened on the news front or from a trading perspective. So at least my general sector thoughts are similar. There are a couple of current trades I want to […]
January 28 Biotech Update
Another day with no clear leadership in the space but with a general bid to the sector (until the entire market sold off). I am a little surprised at how long this has lasted but to be fair the sector continues to move higher without clear leadership. What do I mean by the lack of […]
January 21 Biotech Update
The markets recovered nicely yesterday and there seems to be some slight follow through today with the rumor that the ECB is going to do 50B Euro/month QE. That would be on the low end of the “surprise” estimates and I am not sure how that would be perceived. Ultimately I expect some volatility and […]
January 6 Biotech Update
A good start to the day with the market slightly higher but as always we need to see how they end as yesterday was a rough day and odds are more selling is on its way. That being said the sector held up exceptionally well and was a clear outperformer. I suspect the excitement heading […]
January 2 Biotech Update
It is a good start to the New Year and it is only a matter of time until we start seeing facts talking about years in which the market opened higher end positive X% of the time. In any case, it is nice to see a positive start to the year and it will be […]
December 18 Biotech Update
Another rally in the making as we are snapping back from the oversold conditions. It was only a matter of time for this snap but the bigger question is how the market builds upon it. Ideally, this gets the market to new highs with the worst case scenario being we put in a lower high. […]
December 16 Biotech Update
It is a macro world and we only live in it. Short term moves are going to continue to be driven by oil and now Russia and there is not much we can do about but look for the development of bargains. What seems interesting is that the large cap biotechs are underperforming many of […]
December 11 Biotech Update
As I noted yesterday, the market seems to have no memory day to day and despite a bad open and close, the market is higher today as if nothing happened. That is fine as it is also taking the biotech sector higher and there may be some slight outperformance with the SMID names but it […]
December 10 Biotech Update
It was a slightly negative open to the market but certainly more benign than yesterday where the market was able to come back. It may be the case that we are in a Europe driven pattern where there is selling pressure when the European markets are open but that drag is lifted once they close […]
December 8 Biotech Update
It has been a busy couple of days as expected and more news than can be adequately covered in one day, so today I will touch on what seems most interesting and/or near term actionable. Even then I will necessarily be leaving some important topics for later in the week so feel free to contact […]
December 4 Biotech Update
A blah start to the trading day. There are not a particularly large numbers of movers and the market seems for the most part to be drifting. As such, it is difficult to discern any real trend outside of chop. So it seems like the market and sector are searching for a direction. I would […]
December 3 Biotech Update
It is a basically neutral day in the market but the sector seems a little weak but this is off of a good day yesterday. One problem to keep an eye on is that many of the stocks I follow start very strong but weaken throughout the day. I would certainly prefer to stop seeing […]
November 20 Biotech Update
Market starts a little weak this morning and generally is taking the sector with it. That being said it is not a rout by any means, so it seems like there sector is looking to find its footing before the next move. Luckily we have some news to talk about. 1. EPZM reported very positive […]
November 19 Biotech Update
A weak start to the morning both in the broader market and biotech sector and this is on the back of a good day yesterday. It just reinforces the view that the market seems to have almost no memory from day to day. Luckily we have some interesting data to talk about. 1. The talk […]
November 14 Biotech Update
The markets are fine this morning but biotech is weak and seems to be led lower by GILD and other large caps. As long as GILD is weak it is going to be difficult for the sector to lead and this could eventually spill over into the broader markets. We have quickly moved from extremes […]
