The sector has managed to not breakdown and that is good. We are still in a precarious position with the macro still having the potential to drive us down regardless of the fundamentals. It really depends on the rate increase and how much the sector has priced in that action. We know that rates are […]
October 15th Biotech Update
A muted start to the morning but hopefully we can build on some of the positive momentum from yesterday. It seems to me that the sector wants to get to that $130 level where it should be some resistance. I think that level is important in the near term but longer term it is that […]
May 12th Biotech Update
Good news and bad news. The sector broke its recent lows yesterday- bad news. It reversed and ended green- good news. I think the clear downtrend is not as clear but I also do not think we are in a good spot. The $120 level should be some decent support but it seems best case […]
February 17th Biotech Update
There is not a ton to talk about as we are a little slow on the news front but we are setting up for continued downside in the market. We have the trifecta of limited M&A, continued capital raising at these levels, and bad news as being the most dominate news at this point. I […]
February 5th Biotech Update
The market seems like the prototypical market at highs tends to make marginal new highs. If that is the case, then the assumption would be a continued slow grind higher until the elevator down correction. In some ways, it also means that we are unlikely to get those price dislocations that make for the really […]
December 9th Biotech Update
The sector has not had the typical post-conference weakness, which is good to see. Also, there have been a good set of secondaries with the sector still being strong. It is not strange to see secondaries pop up during strong moves as that is pretty typical. What is interesting is that we usually see these […]
October 19th Biotech Update
I waited a little to write today hoping that something would pop in the feed that was interesting to talk about but nothing is happening to start the week. As boring as that could be it is useful in that it provides a pretty clean look at sector sentiment as there is nothing as to […]
October 16th Biotech (and MLP) Update
Looks like we are going to have a decent end to the week. I am still not sure if the sector is going to continue to push this higher high even higher or we get a pullback to establish a new higher low. It certainly looks like the sector wants to move at least nominally […]
March 11 Biotech Update
We remain in a macro world but even that remains difficult to trade. The large intra-day moves puts pressure on trades as it could hit stop-loss levels or convince you that the trade is moving too far away from you. In addition, the administration is talking about stimulus and help but it cannot help everyone. […]
December 11 Biotech Update
Today will be interesting in whether or not we can break into new highs for the week. It looked like Monday was going to trigger a breakout and run but that sort of fizzled. Yesterday was a good day and so today will be interesting to see if we can push those highs seen on […]
December 9th Biotech Update
We have our answer as to the strength of the trend. Positive data are being rewarded (so far) and the perfect storm continues for the sector with not only good data but more M&A. So not only do we need to think about the trend but also whether this is a major breakout as the […]
December 4th Biotech Update
The sector struggled a little and the momentum seems to have paused but we remain squarely within the uptrend. Of course, yesterday saw a ton of secondaries (the most I have seen in a day in a long time) and these tend to occur near the top of a range and not the bottom. It […]
