Did we have that pullback that refreshed? Sort of. We went down to what was resistance and have bounced but it was a quick little move. In some ways, a move down to the $87 level on the XBI would be the former resistance and I will be really looking to see if we make […]
March 16th Biotech (and Ukraine) Update
Monday afternoon felt a little like the market was really setting up for another big leg down but since then it seems to have settled a little. This is the market we are going to be stuck with as Monday it looked almost as if China was going to start providing more aid to Russia […]
January 11th Biotech Update
I am a little surprised with the reversal yesterday. The lack of M&A and the news not being that great was setting the sector up to break to new lows. The fact that we were able to reverse is quite encouraging. Of course, we have all seen this picture before and we have routinely been […]
December 13th Biotech Update
We finally got a merger Monday and this should boost the sector. So far the sector is doing well in a generally bad market environment and hope this continues. There are certainly some non-sector related risks to the market that would hit biotech but as long as they remain muted, we should be able to […]
December 2nd Biotech Update
The sector is good at one thing and that is creating despair and frustration. The selloff has just been relentless and this is very much sentiment related. You can have relentless selling when fundamentals change, i.e. the energy sector at the start of the pandemic when the economy was shut down. There is nothing happening […]
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 […]
November 5th Biotech Update
We have an interesting setup for the sector. It looked for a bit like the momentum was going to take it to the upper end of the end where it would stall. It stalled yesterday fairly short of the upper end of the range. The selloff yesterday and this morning are sort of resetting the […]
November 4th Biotech Update
The sector has certainly strung a couple of good days together and it is probably in overbought territory as we approach the upper end of this long term range. The top of the range has been around the $137-$142 level and that seems like a pretty large ran for a top. Ideally we would want […]
