Hopefully we are on the verge of breaking out and it would be a nice end to the week to see a clear move higher above the range. I still think we really need to see more M&A to really create a clean breakout but I think the expectations seems to be that that is […]
October 18th Biotech Update
A pretty good week all things considered. Certainly a move higher this week (assuming we do not give it all back today but it does not seem that will happen). I would not say that we are in an uptrend but have moved to the upper end of what looks to be a range. I […]
July 18th Biotech Update
The sector has been red hot. It is due for a pause and a test of the breakout. Perhaps this is where we get that healthy pause and refresh or perhaps we have a little more juice left in this move. Yesterday was interesting with a pretty strong move in the big pharma names. I […]
May 15th Biotech Update
This week has not been too bad for the sector. Perhaps my original thought about steady rates being good for the sector will actually pan out. Of course, that all can change with the next CPI number of Fed talk and so we are still very tied to the broader rate environment (at least that […]
April 26th Biotech Update
Well, I sort of do not want to be a broken record on the macro and its effect on the sector. It is what it is and we all know it. We are at the start of large cap earning season and so I would prefer to focus on the fundamentals and the broader market […]
April 17th Biotech Update
We still wait on the Middle East to see if we need to add another layer of macro worry to the markets. The longer we go on the more likely tension settle but it still seems to rest on the scale of the Israeli response and whether it compels Iran to respond. A tit-for-tat spiral […]
April 8th Biotech Update
And we are once again dependent on rates and inflation. Rates are moving higher regardless of what the Fed has been saying as the economy remains stronger than expected. I think we started the year with the thought that we could see upwards of seven rate cuts, but it has generally been around three to […]
March 18th Biotech Update
Not a lot of news to start the week. Ideally we need to get some positive momentum going in the sector but there is not a ton of fundamentals to get it going this week. It would not be bad to see the sector get some upside movement without a lot of fundamental news but […]
March 14th Biotech Update
Support held yesterday and perhaps that is an early positive sign that we have reached the bottom of this little selloff. One day does not make a successful test of support but it was nice to see and ideally we can build on that green and even accelerate it into the end of the week. […]
March 13th Biotech Update
Well, we are no longer hanging at the higher levels and my original thought that we would test the upper end of the previous range was correct. We are getting close and perhaps the intraday low the other day was the test, but we are pretty close. It is probably a reasonable time to be […]
December 12th Biotech Update
I think we have a good broader market sentiment. I sort of thought we would have a little more weakness to start the week but we held in there better than I expected. I would still not be stunned to see a pullback to reset the charts from what should be an overbought condition but […]
November 29th Biotech Update
Not the greatest start to the week but also not the worst. No significant green bars but we also seem to have hit some area of support each day and rallied. As long as that trend is maintained this is not a bad situation. One could be looking at the development of support at these […]
November 14th Biotech Update
Yesterday did not start the way we wanted but it certainly ended much better. A red to green move down at the lower levels is a good sign that support is building. The next part of the process (if we can start to build a bull case) would be a continuation of that momentum, which […]
October 30th Biotech Update
It was not a great end to last week and it looks like we are going to be getting to that $62 level sooner rather than later. I still sort of worry that we have not had a panic move but perhaps we are setting ourselves up that move this week. In any case, $62 […]
October 19th Biotech Update
And just like that the potential relief rally is over. We are breaking new lows and the little rally looks like another lower high. I had at least one day of potential hope for the sector but my long-standing view that we are heading to the $62 area seems unfortunately accurate. Of course, there is […]
September 14th Biotech Update
Not exactly the day that we wanted to build confidence. We had a chance but it sort of looks more like a range bound bottoming process is more likely than a clear move into an uptrend. Of course, we still have the potential to break lower but I still think a range is more likely […]
September 12th Biotech Update
We could be setting up a higher low but I would be very cautious. If we can remain above these levels and not get down to recent lows it would be a positive sign. It also means that we need to get above $81.50 to set a higher high (at least in terms of starting […]
July 28th Biotech Update
Finally a little bit of traction in the sector and it could be a little relief rally or it could be news related. It is absolutely critical that this is more than an early morning rally that loses steam and we end up red. We are at an area where a lower low is possible […]
July 6th Biotech Update
We are bouncing around support and while it is good that it holds, it is dangerous for the sector. If we wanted to be positive, then we are grinding out some volume adding more strength to this support and providing a nice base from which to move higher. Given that we have all experienced the […]
February 13th Biotech Update
Not the greatest way to end the week as we clearly did not get that higher low that was the potential. We still could get a nice little trend, but we cannot get any lower. There is also a potential that we get back to the lower end of the old range, which would make […]
