Nothing crazy happening in the market at this point. I do not see anything that compelling low or high and I think the market continues to struggle with the hope of the vaccines versus the pain of an out of control spread. There is likely a point where the immediate term gets so bad that […]
November 13th Biotech Update
So its been a decent week and hopefully we can end on a strong note. Not a lot of news to move the market or sector and perhaps that means we get a decent look at the underlying sentiment of the market. We are past the major catalysts of November and there is really not […]
November 12th Biotech Update
The market continues to move along it sort of the honeymoon period post election risk reduction. I still worry about the pandemic as cases continue to grow unabated in the EU and US. Is it possible that the market (and Americans) simply do not care about it anymore and have simply accepted the death as […]
November 11th Biotech Update
Below are my comments on the guidelines that you can forward along. So it looks like the market has digested the outcome of the election for the most part. I still think there is going to be a tug of war in terms of COVID with the vaccine news pushing the post-COVID names but […]
November 9th Biotech Update
We do not have merger Monday, so I suspect the market will be disappointed. I joke of course as this is going to be a massive relief rally on the news of the PFE vaccine. While there will certainly be a rally that raises almost everyone, there will likely be rotations out of COVID treatment […]
October 30 Biotech Update
I said that a kick was possible for the sector and it could be pulling one off. Yesterday ended up better than I expected and was the start of that save but the market remains in a precarious position with anxiety over the election potentially overwhelming everything today. Of course, the consensus seems to be […]
October 23rd Biotech (and MLP) Update
Yesterday, we had a nice follow through rally from the early morning move higher. That was nice to see and could possibly indicate that we are in the making new high phase of the uptrend. We still are in a limit news phase with earnings to start becoming a larger and larger story (at least […]
October 12 Biotech Update
We are not starting the week with new M&A but we are starting the week with strong momentum both with the sector and the broader market. Of course, very strong broader markets have not necessarily been great in recent weeks for the sector but there is certainly a chance that we break to new highs. […]
September 28th Biotech Update
While there is nothing major happening in the sector, the broader market appears to be recovering and the sector is probably going to be along for the ride. If we can get enough strength this week to push the XBI above the recent highs (around $116.30) then we can start to take more serious the […]
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 […]
August 21st Biotech Update
Nothing too exciting to end the week. It seems like the $109 level on the XBI remains good support and now that we have bounced of that level we seem to be treading water. So far $115 appears to be acting as resistance so a strong move higher probably needs to show a clear break […]
August 12th Biotech Update
Well, we got that quick move that I expected after the sector had been drifting for awhile and unfortunately it was lower. So now what? I still think we will need to test the recent lows to see if we break below and make a lower low (worst case scenario) but if that holds then […]
August 10th Biotech Update
The sector really does not want to make up its mind. I am a little surprised we have not seen a more clear signal of direction and I think the longer we go without a signal the quicker any move will be. It almost seems as if the sector is coiling for some sort of […]
August 7th Biotech Update
The market and sector seem to both be deciding what to do next and are basically drifting at current levels. I am a little surprised to see the sector drifting given that it is at a somewhat important level for the near term movement. I thought it would have decided whether it wants to break […]
July 31st Biotech Update
As much as I am worried about the market and sector, it is holding up so far and that support in the sector held as well. I think we lost the uptrend but we are not quite in a breakdown mode. It is possible that we transition from the uptrend into a consolidation/sideways trading for […]
July 10th Biotech Update
So the sector had its breakout above the old range. It was tested and held and now we seem to be establishing a new range or we could actually be setting up a trend move higher. It is hard to see anything really clear with the sector at this point. In some ways it depends […]
June 26th Biotech Update
The sector remains strong with a green day yesterday as well as a relative outperformance to the broader market. I guess COVID will not matter until it does but I remain worried that it is only a matter of time before case growth (and like deaths) become too high to ignore. This morning we seem […]
June 25th Biotech Update
The sector seems poised to test the breakout sooner rather than later. I am becoming increasing of two minds about the market. I often say (and try) to trade (invest) the market as it is and not as you think it should be. The sector is trading strong with a clear breakout of a decent […]
June 24th Biotech Update
Clearly we have a breakout in the sector. The next phase will be the retest of the breakout and the old resistance should act as new support. How far do we run until the retest? I would think that we are probably closer to the start of that retest than continued moves higher but we […]
May 22nd Biotech Update
The ups and downs continue as we remain in what could be the developing range. I could be wrong but I think a range bound market would be the most frustrating and money losing market for the largest number of people and hence is the likely outcome. Money might just rotate between sectors moving them […]
