I think the best description of the sector is listless and uncertain. The price action has been mixed but more than anything else, there has been a significant lack of volume. No one wants to buy or sell biotechs and so they have been drifting with some good days and some bad days. We are […]
April 24 Biotech Update
Some news to talk about today with interesting implications and I will try to cover most of them. The sector seems to be lagging early despite some business development news but we also had a big miss by BIIB that might be acting as a headwind (the M&A rumor seem to save the day so […]
March 27 Biotech Update
The sector is in bounce mode. While I certainly think there is room for a rally after the sharp selling, I would not read this as an all clear. Yes, the downdraft took some of the overvalued names down pretty far but this seems too orderly and easy for it to be done. Obviously, we […]
January 28 Biotech Update
Another day with no clear leadership in the space but with a general bid to the sector (until the entire market sold off). I am a little surprised at how long this has lasted but to be fair the sector continues to move higher without clear leadership. What do I mean by the lack of […]
December 16 Biotech Update
It is a macro world and we only live in it. Short term moves are going to continue to be driven by oil and now Russia and there is not much we can do about but look for the development of bargains. What seems interesting is that the large cap biotechs are underperforming many of […]
December 4 Biotech Update
A blah start to the trading day. There are not a particularly large numbers of movers and the market seems for the most part to be drifting. As such, it is difficult to discern any real trend outside of chop. So it seems like the market and sector are searching for a direction. I would […]
December 3 Biotech Update
It is a basically neutral day in the market but the sector seems a little weak but this is off of a good day yesterday. One problem to keep an eye on is that many of the stocks I follow start very strong but weaken throughout the day. I would certainly prefer to stop seeing […]
July 28 Biotech Update
Not a great start to the week but the sector seems to be tracking the broader market selloff. I am really of two minds in that there are many reasons to expect the broader market to hit a significant air pocket as it seems pricey by a number of traditional valuation methods (CAPE and so […]
May 20 Biotech Update
The market remains neutral in that stocks are reacting to news in predictable ways and there does not seem any real bid or selling to the sector in general. It seems like people have their positions established and are adjusting them when new information arises but other than that there does not seem to be […]
May 13 Biotech Update- As We Wait for ASCO
Another good start for the sector today and this is certainly feeling like a change in sentiment but we need to remain cautious. That being said, I would lean toward being a more aggressive buyer on pullbacks as we are finally starting to see some bids in the mid to small cap space. I have […]
January 22nd Biotech Update
I feel like a record stuck skipping over the same part but there has not really been anything new in the market this week either from a macro sense or even at the individual level. The sector was strong in the morning basically on the backs of the large caps (see GILD later in the […]
January 6 Biotech Update: A Slow Start to the Year
I hope everyone had a great holiday and is ready for 2014. It has not been a stellar start for the market or biotechs, which is a little worrisome but it is still early. I have been arguing that the best tell for biotechs will be the price action from the JPM healthcare conference. I […]
