Market is pulling back a little and taking everything with it. I think we will get a much better sense of how the sector is reacting to the large cap earnings next week as the stocks either pullback further, consolidate, or grind higher. Today I want to follow up on a couple of issues of […]
July 24 Biotech Update
A busy day in the sector and I want to highlight some broad themes and then perhaps revisit with details where appropriate in the next day or two. In general, the earnings are pretty much in line and do nothing to dampen the growth stories of the large cap biotechs. The stock action so far […]
July 28 Biotech Update
Earnings season is off to a good start with both a nice quarter from BIIB and the positive phase III data from PBYI. It is encouraging that good news is being rewarded but the key is going to be how well this spike maintains over the next days and weeks. Given the positive pin action […]
July 9 Biotech Update
The market was better today but this is not surprising that we get a breather after the two day sell off. The key is what happens in the afternoon and tomorrow. In other words, we cannot know if this is simply a dead cat bounce before more selling or the end of a quick downdraft. […]
July 3 Biotech Update
It seems like a very slow day in the market as not a lot of news outside of the macro data, which was positive. The sector seemed to drag a little this morning but I would certainly not read anything into the move today given the volume and the morning heading into an early close […]
July 2 Biotech Update
A tough end to USA soccer in the World Cup but another good morning for biotech stocks. I have some follow up discussion from earlier this week as there is not a ton of new news this morning. I suspect that will be the case as we get closer to the long weekend (but we, […]
June 30 Biotech Update- Back in the Saddle Again
Vacation is over and I am back to the grind (although I cannot really call what I do a grind as it is enjoyable). This is extra early today as I have a lot of catching up to do today and wanted to get some thoughts out there before I get caught up in other […]
June 20 Biotech Update
I am glad that I did not miss too much yesterday but it is usually the case that a day or week off does not dramatically change your perspective. It was another good morning for biotechs and I still believe that we are going to make a run at the all-time sector highs if the […]
June 13 Biotech Update
This is going to be a quick update as there is not a lot of new in the market and I have a busy morning and afternoon. That being said there are two pieces of news that I thought was interesting and worth writing about. 1. CELG opted in and grabbed the global license for […]
June 10 Biotech Update
Yesterday was a busy day and ended up being a little crazier than I planned but I am not back in the office and ready to think about some biotech. I did not have a chance to check the market yesterday so I am not sure how it traded but it seems like it is […]
June 5 Biotech Update
Basically a mixed day in the sector, which is perhaps to be expected with so many traders focused on the ECB decision. Oddly it seemed that most thought there would be a significant move but the market basically yawned away the decision. The day, of course, is still young so perhaps there are more fireworks […]
June 4 Biotech Update- The Post-ASCO Blue
So another ASCO is in the books and it seems like a fairly bland conference with relatively few significant stock reactions. Over the next couple of days I will sort out both what I saw as the major themes in the data but also the elusive “buzz.” In other words, there are the facts as […]
Biotech Fund Action in the Run Up to ASCO
(This is a guest post by Emory Redd and the disclosures are his at the bottom as well. I also apologize for the table formatting. They actually look much better in word but I cannot figure out how to get them to work in wordpress. I was running out of time to get this out […]
May 29 Biotech Update
Generally a good day in the market and it is nice to see small caps participating in the rally. All of my previous caveats apply as to where the market may go. I would also note that the sector generally sells off after ASCO. So even if we get a continuation of this positive price […]
May 22 Biotech Update
Not a lot new in the market. The sector started off well as the broader market provided a relatively neutral if not slightly bullish backdrop. As I have been saying I expect biotech and the market to track for a little while and that another larger move is in the offering. The fundamentals of the […]
May 14 Biotech Update- The Wait is Almost Over
Happy ASCO abstracts day. I would expect volatility as we get later into the day and perhaps some significant moves into tomorrow and then ASCO. I know the expectation of no ASCO run up but I still lean against that consensus and expect a run up into ASCO (especially if there is something to spark […]
May 12 Biotech Update- Gearing Up for ASCO
We are getting into the ASCO frenzy and so it is not surprising that biotechs caught a bid this morning. It could just be coincidence or it could be yet another false start but we have been basing for a little while, so perhaps this is something more significant. The next leg higher will start […]
May 8- The Biotech Draft
While there are some stock specific pieces of news, I want to do something a little different today in honor of the NFL draft. I am going to draft my top 10 stocks. This is assuming that I have no positions at all, so this is not what I would be buying now but if […]
April 30 Biotech Update
It is not Tuesday so the selling continues. It seems like the turnaround Tuesdays happen but have no sticking power. At some point that trend will change and that should be an important tell. Whether that happens today or in a couple of months is not clear at this time but as long as the […]
April 25 Biotech Update- Approaching a Decision Point
The sector has not particularly strong the past couple of days but neither has it come close to reaching new lows. We had a very strong start to the week, so it is only natural that part of that move needs to be retraced. The question is how much. If we are able to put […]
