June 17, 2017 4:48pm
Lot of turns, bumps and potholes with more grading needed …
But, no speed traps
The question is who and what is driving share pricing
Pre-open indications re-cap: 1 hit and 0 miss,
I answer one question, in which company should investors commit and keep their money.
What have you missed, Friday’s results have implications to Monday's sector activity.
A daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined and evaluated.
The advance/decline line scenario of 43 SCGT & RT covered companies:
· The open was negative with an A/DL of 15/24 and 4 flats;
· The mid-day was negative with an A/DL of 12/27 and 4 flat;
· The close was negative with an A/DL of 14/26 and 3 flat;
Pre-open indications re-cap: 1 hit and 0 miss …
- Biostage (BSTG)
Henry’omics:
From the pre-open’s investor’s newsletter … “Get out the broom - Triple witching" expiration of futures and options could make the sector and market volatile, particularly late in the day.”
- Reiterating, “Expiration is a short-term event. But, I believe we have seen the sector’s worst already.”
The real issue, we’re seeing traders fleeing and investors – just taking the hit! The question is – will they come back …??
… YES, traders will be back to reap the harvest of the oversold with investors considering stepping-out of formation until news arrives of ... something!
But realize, the quarter is ending … equities will float until then with NO big swings until Q2 spending is correlated with development outcomes!
Daily analytics:
U.S. equities closed UP (DOW) and DOWN (NASDAQ) on Friday … with the DOW closing UP +0.11% (+24.38) as the NASDAQ closed DOWN -0.22% (-13.74) …
… The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market, traded again near 10.4 …
· Thursday traded near 11 following Wednesday ‘s near 10.6, Tuesday’s near 10.6 and Monday traded 11.48 – up +7.29%, …
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated a positive +0.06% at the pre-open and closed
· Friday traded DOWN -0.25%
· Thursday -0.51%
· Wednesday -0.59%
· Tuesday+0.51%,
· Monday -0.16%,
· Last Friday+0.52%
… The iShares NASDAQ Biotechnology (IBB) indicated a negative -0.54% in the pre-open and closed
· Friday traded DOWN -0.36%
· Thursday -0.77%
· Wednesday +0.56%
· Tuesday +0.41%
· Monday -0.30%,
· Last Friday -0.22%
The count - decliners versus gainers:
……. look at the differences in the spreads ……….
· Friday’s decliners ranged from -0.41% <NWBO> to -6.67% <CAPR> in 26 equities;
· Thursday’s decliners ranged from -0.60% <HSGX> to -9.67% <CAPR> in xx equities;
· Wednesday’s decliners ranged from -0.09% <BSTG> to -16.83% <IMUC> in 19 equities;
· Tuesday’s decliners ranged from -0.61% <BLCM> to -9.82% <IMUC> in 13 equities;
· Monday’s decliners ranged from -0.31% <BTX> to -7.83% <ISCO> in 22 equities;
· Last Friday’s decliners ranged from -0.39% <QURE> to -8.68% <MESO> in 29 equities;
Versus
· Friday’s gainers ranged from +0.14% <KITE> to +8.11% <BLCM> in 14 equities;
· Thursday’s gainers ranged from +0.19% <CUR> to +4.69% <AST> in 10 equities;
· Wednesday’s gainers ranged from +0.40% <KITE> to +5.14% <FCSC> in 18 equities;
· Tuesday’s gainers ranged from +0.26% <CLLS> to +12.70% <AST> in 26 equities;
· Monday’s gainers ranged from +0.13% <ONCE> to +15.20% <FCSC> in 15 equities;
· Last Friday’s gainers ranged from +0.63% <BTX> to +5% <AGTC> in 13 equities;
Some of MY working trend lines or indications for Monday:
… The greatest volume to the downside: XON, NWBO, BLUE and ONVO
… Upside volume was weighted to: JUNO, SGMO, MDXG, and KITE
… Biggest $ downside: BLUE, RGNX, XON, CUR and CLBS
… Largest $ upside: ONCE, BLCM, CLLS, JUNO and STML
… Flats: RENE.L, ISCO and OSIR
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
