August 2, 2017 5:26pm
I was not utterly wrong but, neither was I completely right
Sentiment and pre quarterly financial results don’t help
The major question will be what’s sustainable in this new Q3 period?
Pre-open indications: 7 hit and 7 miss
It’s called premium content for a reason … I define insight from a real-time perspective discussing equity share pricing, attractiveness and support levels as stock pricing changes by the hour … if not the minute!
Others don’t even come close!
I answer one question, in which company should investors commit and keep their money.
Wednesday’s results have implications to Thursday’s sector activity as a daily report may say little or a lot and it serves as insurance that all indications are being examined and evaluated!
Henry’omics:
From the pre-open’s investor’s newsletter, “The oversold are wanting and the overbought are glaring. A depressed cell therapy sector needs more than a double expresso.”
- As I had stated, “Short and near-term growth prospects are nowhere to be found!”
Volume is still very LOW and higher in selling – again; it is a gauge of negative sentiment and investor non-interest.
- How many ways can I say it, the cell therapy sector is entering the usual weak seasonal period side-by-side with investor pessimistic views of quarterly financial results. Historically, the period from August through October has seen stocks struggle and a period when corrections have tended to occur more than often,
The jury is still out even with quarterly reporting …
The advance/decline line scenario of 43 SCGT & RT covered companies:
· The first hour was negative with an A/DL of 9/29 and 5 flats;
· The mid-day was negative with an A/DL of 12/28 and 3 flats;
· The close was negative with an A/DL of 14/28 and 1 flats;
Pre-open indications: 7 hit and 7 miss
As I had stated, there are too many OVERSOLD to mention each one – nine (9):
• Applied Genetic Technologies (AGTC) closed up +$0.05 – hit;
• Bellicum (BLCM) closed down -$0.14 – miss;
• bluebird bio (BLUE) closed up +$1.70 – hit;
• Cellectis SA (CLLS) closed down -$0.62 – miss;
• Fate Therapeutics (FATE) closed down -$0.12 – miss;
• Histogenics (HSGX) closed up +$0.04 – hit;
• Juno Therapeutics (JUNO) closed up +$0.71 – hit;
• Kite Pharma (KITE) closed up +$1.44 – hit;
• Organovo (ONVO) closed down $0.03 – miss;
And six (6) overbought in my view:
• Athersys (ATHX) closed down -$0.03 – hit;
• BioLife Solutions (BLFS) closed up +$0.21 – miss;
• Capricor (CAPR) closed up +$0.01% - miss;
• Fibrocell (FCSC) closed down -$0.06 – hit;
• Regenxbio (RGNX) closed up +$0.45 – miss;
Daily analytics:
The Dow finished above the 22,000 threshold for the first time on Wednesday and the NASDAQ struggled. The NASDAQ closed flat at 6,362.65 while the S&P 500 advanced 1.22 points to close at 2,477.57.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market, traded at 10.24, up +1.49%
- Wednesday traded at following Tuesday’s 10.09 down -1.66%, Monday traded 10.30 up +0.10% … Friday closed at 10.29 up +1.78 following Thursday’s +5.31% to 10.11 and last Wednesday’s 9.60
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Wednesday was down -1.07%
· Tuesday was up +0.20%
· Monday down -0.31%
· Friday down -0.28%
· Thursday was down -0.64%
· Last Wednesday was down -0.57%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Wednesday was up +0.40% which didn’t help the cell therapy sector
· Tuesday down -1.04%
· Monday down -0.85%
· Friday up +0.63%
· Thursday was down -1.87%
· Last Wednesday was up +0.65%
The count - decliners versus gainers:
……. look at the differences in the spreads as decliners jump and %’s migrate…
· Wednesday’s decliners ranged from -0.15% <OSIR> to -9.63% <CYTX> in 28 equities;
· Tuesday’s decliners ranged from -0.14% <MESO> to -8.51% <CYTX> in 31 equities;
· Monday’s decliners ranged from -0.03% <IMUC> to -8.16% <FCSC> in 31 equities;
· Friday’s decliners ranged from -0.02% <CYTX> to -12,31% <CAPR> in 25 equities;
· Thursday’s decliners ranged from -0.45% <OPXA> to -29.15% <CUR> in 31 equities;
· Last Wednesday’s decliners ranged from -0.30% <XON> to -12.10% <CUR> in 18 equities;
Versus
………… look at the percentage’s (%) and their decreases …….
· Wednesday’s gainers ranged from +0.64% <QURE> to +19.72% <ONCE> in 14 equities;
· Tuesday’s gainers ranged from +0.87% <BLFS> to +5.08% <FCSC> in 8 equities;
· Monday’s gainers ranged from +0.49% <VTGN> to +4.64% <AXGN> in 9 equities;
· Friday’s gainers ranged from +0.27% <XON> to +11.92% <KOOL> in 16 equities;
· Thursday’s gainers ranged from +0.28% <FCSC> to +28.71% <CAPR> in 10 equities;
· Wednesday’s gainers ranged from +0.28% <VSTM> to +18.85% <ISCO> in 21 equities;
· Last Tuesday’s gainers ranged from +0.56% <XON> to +2.16% <NWBO> in 10 equities;
Some of MY working trend lines or indications:
… The greatest volume to the downside: ONVO, MDXG, CYTX, NWBO and CUR
… Upside volume was weighted to: ONCE, JUNO, IMUC, BLUE and KITE
… Biggest $ downside: CLLS, MDXG, AXGN, XON and STML
… Largest $ upside: ONCE, BLUE, KITE, JUNO and RGNX
… Flat: ADVM
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.
