Not a ton of news as the year closes down. It seems like the market wants to whiplash investors as we bounce around with no clear trends. It does not matter how strong or weak a day is as it seems to have no impact on trading the next day. We should be approaching a […]
November 15 Biotech Update
Today is an important day for the sector. We are at very long term support (the 200 week MA) that has rarely been breached (occasionally but never in a sustained manner). At levels that should provide some support we get some partnership news that is positive for SMID (it seems like partnerships are the new […]
June 15 Biotech Update
The market is certainly continuing its recent weakness (especially NASDAQ) but today biotech is down with it. Is this the start of another move to the lower end of its range or is this the pause for the breakout of the range? If history is any guide this is the start of a move to […]
August 8 Biotech Update
The sector seems to be struggling a little but it would not be stunning to see some underperformance and consolidation after the recent run. We continue to get earnings headlines but the vast majority of sector moving calls and earnings are passed. 1. EPZM reported earnings and there is nothing new in it, so it […]
June 20 Biotech Update
Macro rules yet again with Brexit fears abating sending the market higher, although there are some notable under performing stocks. While it is hard to see a very large trend, the breadth in the biotech sector seems weaker than the market with a number of red stocks on my screen and a number of barely […]
March 11 Biotech Update
The blast from the past continues as the market and sector continue to weaken. As cheap as large cap biotechs look it is hard to see a stock like CELG break below what was a trading range and not think it will re-test the previous lows in the lower $90s. While the market today started […]
January 22 Biotech Update
The market seems to be catching its footing but again if we are bottoming we are in the early stages and confirmation still needs to happen but I am cautiously optimistic that the selling pressure has eased (not really a brave statement to make this morning but given the start to the year you never […]
January 7 Biotech Update
The year is off to an even worst start as all the secondaries are getting bad prices (to varying degrees of bad) and all are breaking those prices. China continues to collapse taking commodities with it as well as strengthening the dollar taking the markets with it. On the encouraging side, the technical analyst at […]
September 28 Biotech Update
The market has been ugly and rough and at times like this you simply want to throw up your hands and walk away but this is where values develop, so it is worth staying engaged even if we are not at the bottom. I think it is a legitimate question as to whether we are […]
August 7 Biotech Update
I am not able to write for a couple of days and the market goes to crap, I figured you all would be able to keep down the fort better than that. As much as it seems like a beating (it is) I do not think we are seeing the bubble burst (of course, I […]
July 9 Biotech Update
It is a new day and apparently a new market with everything now OK. Clearly chop is the order of the summer (as is amnesia with the market having almost no memory day to day). As always it matters less how we start and more how we end but given the lack of any real […]
July 6 Biotech Update
A pretty quiet start to the week (at least in terms of bio news). Obviously we have all the Greek drama but despite fears of the worst, the opening was not too bad and stocks seem to be rallying with bios taking the lead. While it is way too early to read into the price […]
July 1 Biotech Update
I am back from vacation and ready to get back into the sector. I planned on talking about the CGPR space today but I will push that back until tomorrow (but ALDR is on my radar to buy so do not be surprised if I start a position between now and tomorrow’s note but it […]
June 17 Biotech Update
Market doing a little better but biotechs seemed to take yesterday off despite the broader rally. The sector seems to be more positive today (there were certainly bright spots yesterday but in general the sector appeared to underperform). We are helped by some M&A, which goes with the speculation that developed yesterday. Again, the summer […]
March 18 Biotech Update
Some early weakness but I also suspect today is going to be fairly volatile with the Fed weighing in later this afternoon. So I am really not going to read anything into the price action this morning and even less into the price action in the sector after the announcement. Given how close people think […]
March 13 Biotech Update
I know that the sector is doing well and near highs but I cannot shake the feeling that the stocks feel heavy. I do not have a better way to describe it nor anything more solid than this impression. Perhaps this is simply the wall of worry that we are going to climb. If I […]
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 […]
December 12 Biotech Update
The market is weak to open as a follow through on the selling yesterday. This feels like a reversal day but it is way too early to tell but either way I think we are going to get a sense of how stocks are going to trade into the end of the year. A day […]
December 1 Bitoech Update
Markets are weak and the biotech sector is moving with it and it appears that small cap and momentum plays are being most affected (large caps seem to be holding up fairly well). The market probably needs to consolidate its recent move as do a lot of biotechs but the wild cards this month are […]
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 […]
