I think we remain in a macro environment and it is increasingly difficult to interpret the recent moves. For instance, why are ABBV, ENTA, and GILD all going down? What has caused that relationship to breakdown? Is it macro related, end of the year portfolio adjustments, or something else? Along the same lines, why are […]
December 12 Biotech Update
The market is weak to open as a follow through on the selling yesterday. This feels like a reversal day but it is way too early to tell but either way I think we are going to get a sense of how stocks are going to trade into the end of the year. A day […]
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 […]
October 30 Biotech Update
Sort of an up and down morning to start but the sector seems to be outperforming a little, perhaps on the back of good BMY data. At this point the market is in a show me state with both the bulls and bears expecting the next move to validate their view and positions. I still […]
June 5 Biotech Update
The market looks like it is teetering on the edge and perhaps it is the ISIS march across northern Iraq that will be the impetus to send it into the correction. What is interesting is that the biotech sector has held up well in this market weakness (although the weakness has been relatively minor at […]
June 6 Biotech Update
Today was the first day in a little while that the sector seemed noticeably weaker than the broader market. Perhaps this is simply natural variability, perhaps it is simply a slow trading day with random price action, or perhaps it is an early warning signal for a broader market correction. What seemed interesting is that […]
May 21 Biotech Update- A Little More Drama
It was a quiet day in the market. The sector started off well but it seemed to simply be following the broader market. I still think we are unfortunately tied to the macro and that the next move in the sector will be with the market. It could be that if the move is down […]
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 […]
