The sector has done well since we approached the lower end of the range as was expected. A bounce from the low end made perfect sense. We are basically in the middle of the range and I still suspect that the sector makes it way to the upper end around $86. It will not be […]
July 7th Biotech Update
The broader market did not help yesterday but we certainly did not ruin the potential uptrend but we did nothing to confirm it either. I think another decent sized down day today would be a problem but we have almost been straight down the past week so a snap back rally would not be a […]
March 1 Biotech Update
A good start to the week on relatively little news. I thought the sector had a clear shot down to the $140 or so level on the XBI but it is possible that the intraday move on Friday marked the bottom. We need more than simply a good start to the week but need it […]
February 24th Biotech Update
So it has been a difficult start to the week for sure but we did get a little bit of reversal yesterday. It was more true for the market in general than for the sector but we did not close on the lows which I think is pretty important. Obviously we want to see green […]
February 10th Biotech Update
Right now the market seems to be the epitome of a market at highs tends to make marginal new highs. The sector has been doing really well and in some ways was leading the moves higher. There was a little pause yesterday which is normal but at this point I still think the trend is […]
January 11th Biotech Update
Yikes, what a boring start to JPM. I thought last year was sort of slow news and no big events sort of JPM but this is even worse. There is nothing bad that has been announced but if we thought that JPM would spark some life into the sector with big news, then we are […]
January 8th Biotech Update
So the sector was doing well yesterday in the lead up to JPM and perhaps we get some early news today but the news yesterday was certainly not a good start and that might end up weighing on the sector (at least in the morning). Hopefully this is not a signal as to the type […]
January 7th Biotech Update
Not a lot of news on the biotech front but certainly that is not the case for the broader news cycle. It was a little disjointed to see the market rally as the capitol was occupied but clearly the market did not see that getting in the way of a transition to Biden. In any […]
December 10th Biotech Update
The sector is clearly doing well and there is some interesting news that perhaps bodes well heading into JPM and the end of the year. We are not quite making news highs again today but the sector is feeling like it wants to and it really stands in stark contrast to the pandemic and economy. […]
September 24th Biotech Update
We are not quite in trouble with the sector despite the recent sell off and pain. Obviously the broader market is not helping but we have not broken below recent lows and still can reverse (needs to be soon) higher and make a higher high to start a new trend. Of course, nothing is guaranteed […]
September 16 Biotech Update
The early week deals have set a nice rally in the sector which was expected. The positive is that we not only broke above the last lower high but also closed above it. As such, I think it is clear that we have broken the down trend and so the question now is whether we […]
September 10 Biotech Update
The sector seems to be doing well as it recovers with the broader market. One has to remain a little cautious as we seem to be in a downtrend with lower highs and lower lows and while this strength looks good, we cannot become too optimistic until we break the recent trend. Hopefully this is […]
September 9th Biotech Update
Yesterday could have been worse and it could have been better. It seemed like we were going to get a real nice bounce and perhaps even get to green but it seemed to stall at the end of the day. So when all was said and done it was basically a day that had a […]
September 8th Biotech Update
Tuesday are my crazy busy teaching and working days, so I need to make this a quick update. Luckily there is not a lot of news to really talk about. In fact, there is basically nothing major to really talk about which could be a little disappointing to the sector that might have been looking […]
September 3rd Biotech Update
The sector cannot seem to make up its mind. It has basically been altering red days and green days for a little bit. Every day you think there is momentum to the upside it reverses the next day. Every day you think it is just about to break day, it rallies the next day. That […]
September 2nd Biotech Update
So clearly the sector does not seem ready to move to the top end of its range. If anything, then it looks like a clear trend lower. The move earlier in the week is starting to look a lot like a lower high. It is an odd sort of downtrend in that the lower highs […]
September 1st, Biotech Update
Positive news that happens near support levels tends to have a positive effect on the sector and that was what we saw yesterday. The broader sector moved higher throughout the day and I suspect it was not simply a one day move and that we will move towards the upper end of the range that […]
August 31st Biotech Update
Hopefully with some positive news to start the week, the sector will have a positive reaction. The underperformance has been frustrating to see but I still think we have not broken below support. As such, this is setting up as a perfect bounce off the low end of the range with the news to start […]
August 25th Biotech Update
I am not sure what God I have angered but this week started out with the potential of two hurricanes to hit my but so far I have dodge one (and good shot for the second to miss). The market generally had a good start to the week but the sector not so much. To […]
August 13th Biotech Update
Well, the sector was able to do a little bit of a kick save yesterday but we are certainly not out of the woods. Once would have to think that lower is still the more likely trend until we stop setting lower highs. On the positive side, we still have not set a lower low […]
