I do not want to be a broken record but we remain in a market driven by macro and not individual stock fundamentals. The one change so far this week (for the better) is that it is driving a broad bounce back in the sector. Whether this ends up marking a bottom or is simply […]
April 11th Biotech Update
Unfortunately, not much has changed since I noted that the sector is back in the interest rate slump. We were negative for the year and that was completely predicable once the interest rate specter raised its head once again. There is no chance that we get a sustained rally as long as we are in […]
February 6th Biotech Update
It was a nice day yesterday not because of a massive rally but one where we started solidly red but rebounded into the green. It is always nice to see those reversals and it was not as if it was a quick dip into the red but one that was pretty sustained for most of […]
January 31st Biotech Update
We seem to be doing a little better today but not really getting any momentum to the upside. We have an upcoming rate decision but I doubt that will be market moving unless the commentary comes out unexpectedly bullish or bearish on rates. I suspect it will be continue to follow the data and while […]
January 8th Biotech Update
I got dismissed early for the day from jury duty (have to be back bright and early tomorrow) and so I wanted to get some quick thoughts on the start of JPM week, so I do not get too far behind. The sector started off a little weak but came back strong in the afternoon. […]
November 20th Biotech Update
It was a good end to the week and let us see how we start. I do not know how to really read the moves this week as I suspect it is going to be pretty slow on the news and the volume front. This morning is probably pretty indicative as to what we would […]
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 […]
July 18th Biotech Update
So far so good this week. We definitely need to continue the strength. I would have ideally preferred to finish closer to the highs but a nice strong green to start the week is good. We are above the $85 level and not messing around this level and moving higher adds to the initial strength. […]
May 2nd Biotech Update
Certainly, a good start to the week. We basically got to the upper end of a range around $83 and I would not be surprised to see that act as a little bit of resistance, although if we are in a bull market it should not last too long. I would like to see us […]
April 25th Biotech Update
A slow start to earnings with nothing really pushing the sector. I think as we move through the large cap section of the earnings the questions will revolve around M&A as it is hard to see a large cap that does not need some additional filling out of the pipeline with some more than others. […]
November 22nd Biotech Update
Not the greatest start to the week but I have a hard time reading too much into this week’s trading. I did notice that large caps outperformed SMID and that has been my theme for a little bit. I still think investors come back into biotech first through large caps and in some ways the […]
May 25th Biotech Update
It looked as though the sector tried to reverse a couple of times but it ended up being a red day. It would have been nice to get a good red to green reversal with follow through today but at least we are starting green today. It is important to have a good day today […]
April 26th Biotech Update
Sorry I have been away for a bit but life outside of biotech has been very complicated and all consuming. I am hopefully more able to focus on biotech going forward but we will see. It seems like the sector has been just as difficult as well and that is disappointing as it was setting […]
January 10th Biotech Update
Well, if you thought JPM 2021 was a disappointment you had not seen JPM 2022. While there can still be individual stock news I think the lack of any significant deals means that M&A is not going to be a theme in this conference. I guess the one advantage we have this year is that […]
November 8th Biotech Update
We remain range bound with some weakness to end last week and some indecision to start this week. I still think we make a move to the upper end of this range at some point and I do not think the first attempt to breakout will be successful. It is possible but my running assumption […]
October 6th Biotech (and Energy) Update
Sentiment around the sector is pretty negative even though I would say that we are not quite breaking down. We certainly have not developed an uptrend but stepping back it looks like we are in a big range and are currently at the lower end of that range. We are at support right now and […]
August 25th Biotech Update
We lost a little bit of the momentum yesterday but we have had a short strong move and so a little pause is not crazy. Of course a little pause to refresh is different than a move back towards the lower end of the range. Yes, my assumption will remain that we are in that […]
July 9th Biotech Update
I would have thought the sector would have provided us with a more clear signal as to its next move but I look at the sector right now and see both upside and downside potential. Clearly we broke below the recent lows and potentially ruined a clear uptrend but if we are able to set […]
January 13th Biotech Update
So I think JPM is a complete failure in terms of news. It is obviously a dud in terms of M&A. I do not remember the last time we had a JPM with zero mergers. There have been some with minor deals but it has been awhile since there have not been any. This actually […]
December 17th Biotech Update
I am a little surprised at the lack of follow through after Monday. I expected the potential of a small retracement but then strength to return to the sector. I am not willing to say the trading is indicating a near term top is in for the sector as we are still in a seasonally […]
