So far we do not have an ASH selloff, which is nice to see. I think in general we remain with some seasonal and broader market tailwinds and that should take us through JPM in January. In fact, we are probably getting close to the M&A speculation time but remember that last year was actually […]
December 3rd Biotech (and MLP) Update
Sorry for the delay but we are dealing with kids that were exposed to COVID and having to get them tested and now they are back in virtual school. I am sure many of you have dealt with similar (or worse) issues and thankfully for us it is just added time but it certainly has […]
December 1st Biotech Update
A strong start to the week that is continuing. While certain sentiment measures are getting into danger territory, it still seems like the market has a little bit more room for running. The uncertainty around the elections is waning and the Biden economic team seems to indicate a strong desire for fiscal stimulus. We are […]
November 30th Biotech Update
As I have said there will be a tug of war in the market and so far vaccine hopes and seasonality are winning over the growing pandemic. One really has to worry about an out of control pandemic combined with a holiday season but the market is not quite ready to worry about it. I […]
November 23 Biotech Update
The market dynamics remain the same. We are entering what tends to be a seasonally positive period of the year, which might add some tailwind to the broader market. While I still think the market is going to focus on the prospects of the vaccine coming next year as opposed to the out of control […]
November 20th Biotech Update
I think choppy might have been the best description of the market at this point. This makes sense give the competing influences on both the market and economy. I would not be surprised to see this chop continue or perhaps even see some consolidation. The broader market seems in a little more precarious position than […]
November 18th Biotech (and MLP) Update
So the market continues to look good including the sector that is pushing all time highs. While I often say the trend is your friend (and it is), it might also be time to pull out another saying. When markets are making all time highs, the most likely outcome is to continue to make marginal […]
November 16th Biotech Update
Another start to the week with some more vaccine announcements (positive). It was good to see more positive vaccine data but it does not change the dynamic that I see with the market. There appears to be a real light at the end of the tunnel but the path to the end will be very […]
November 13th Biotech Update
So its been a decent week and hopefully we can end on a strong note. Not a lot of news to move the market or sector and perhaps that means we get a decent look at the underlying sentiment of the market. We are past the major catalysts of November and there is really not […]
November 12th Biotech Update
The market continues to move along it sort of the honeymoon period post election risk reduction. I still worry about the pandemic as cases continue to grow unabated in the EU and US. Is it possible that the market (and Americans) simply do not care about it anymore and have simply accepted the death as […]
November 11th Biotech Update
Below are my comments on the guidelines that you can forward along. So it looks like the market has digested the outcome of the election for the most part. I still think there is going to be a tug of war in terms of COVID with the vaccine news pushing the post-COVID names but […]
November 6th Biotech Update
It seems like the election is all but over. The votes have turned and clearly point to a Bide victory and as of writing speculation is that Trump will admit defeat. Of course, Trump does not have to concede for Biden to win but it would assuage investors and remove the last bit of risk […]
November 5th Biotech Update
While we clearly do not have a clear winner from the election, it at least looks like the market has decided where the election is going. If there was uncertainty over the outcome, then the market would not have rallied and volatility would not have dropped. Given the pace of vote counting, it looks like […]
November 4th Biotech Update
The election is (sort of) over. While it ended up being closer than the polls indicated, it appears that Biden will win barring some unprecedented court decision to invalidate large numbers of legally cast votes. The closeness of the election, however, makes the Senate now lean Republican. I suspect both Georgia contests will have to […]
November 2nd Biotech Update
This is the literal calm before the storm. The election is tomorrow and the adu AdCom is Friday. Plus, we still have a number earnings coming this week as well. Even with all of that news the week starts off with basically nothing that meaningful so there is not much to say. That is not […]
October 30 Biotech Update
I said that a kick was possible for the sector and it could be pulling one off. Yesterday ended up better than I expected and was the start of that save but the market remains in a precarious position with anxiety over the election potentially overwhelming everything today. Of course, the consensus seems to be […]
October 29th Biotech Update
As awful as the day was yesterday, the sector is not quite broken. This is not to say that things look great but a reversal and green close today could save it. Another day lower and we can call the trend as it would be a potentially lower low establishing. I am not very optimistic […]
October 28th Biotech Update
Not a great start to the week (or continuation of the week) as the market and sector continue to struggle. Given all of the potential news makers in the next couple weeks it is difficult to completely attribute the move solely to one factor. My mantra has been that the trend is your friend and […]
October 26th Biotech Update
A mixed start to the week with the broader market and sector lower on the open. Nothing dramatic on either and nothing really meaningful in news flow, so a sort of drifting would not be unexpected. I think it is safe to say that we are in the calm before the storm with earnings really […]
October 23rd Biotech (and MLP) Update
Yesterday, we had a nice follow through rally from the early morning move higher. That was nice to see and could possibly indicate that we are in the making new high phase of the uptrend. We still are in a limit news phase with earnings to start becoming a larger and larger story (at least […]
