November 17, 2017 6:22pm

Sector opens down, flits with the upside at the mid-day and closed positive

 

Torque and momentum are rotational forces

Would you calculate the magnitude in follow-on sessions – you might need some forced induction!

 

Daily pre-open indications: 4 hits and 1 miss

 

How right does one have to be? You could and should be reading this review of the day’s share pricing activity?

Is the truth so hard to fathom – that’s why my readership has grown exponentially!

 

Friday’s results have implications to Monday’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 newsletter, “what to watch for … it’s either overbought or oversold. Pure and simple … after many big upsides, what’s going to keep them up? Somedays it’s lucky to close flat!”

From the balcony seats, the market has seen some turbulence recently, slipping from record highs, as concern remained about whether tax reform could be achieved by year-end. There are also concerns about some key differences between the House and Senate tax plans.

  • Poor performance has raised more than some concerns, with advocates of “our’ universe arguing that if investor are buying on fundamentals – they’re about to get screwed!

The current strength of the sector is built on speculation on individual companies.

  • I have an opinion about them but, index exposure and short positions are an issue as they’re diluting many company’s share pricing.

My issue is that algorithms make it more than a board game and seemingly a video game to play!!

 

 

The advance/decline line scenario of 43 SCGT & RT covered companies:   

·         The open was positive with an A/DL of 29/10 and 4 flats ;

·         The mid-day was barely positive with an A/DL of 21/20 and 2 flats;

·         The close was positive with an A/DL of 25/15 and 2 flats;

 

Daily pre-open indication re-cap: 4 hit and 1 miss

  • AxoGen (AXGN) closed up +$1.00 – miss;
  • Intrexon (XON) closed down -$0.77 – hit;
  • Juno Therapeutics (JUNO) closed up +$0.90 – hit;
  • MiMedx (MDXG) closed up +$0.46 – hit;
  • Sangamo Therapeutics (SGMO) closed up +$0.02 – hit;

 

 

Some of MY working trend lines or indications:

… The greatest volume to the downside:  RENE.L, XON, ADRO, PSTI and STML

… Upside volume was weighted to:  NWBO, MDXG, JUNO, SGMO and IMUC

… Biggest $ downside: XON (-$0.77), RGNX (-$0.55), CLLS (-$0.27), ADRO (-$0.20) and OSIR (-0.17)

… Largest $ upside:  BLUE (+$3.05), AXGN (+$1.00), JUNO (+$0.90), ONCE (+$0.85) and MDXG (+$0.46)

… Flat:  ADVM and ATHX

 

 

Daily analytics:

U.S. stocks fell on Friday as worries about tax reform lingered on Wall Street. The Dow and S&P 500 also posted their first two-week losing streak since August.

·         The Dow declined 100.12 points to close at 23,358.24.

·         The S&P 500 finished 0.2% lower at 2,578.85.

·         The NASDAQ fell 0.1% to 6,782.79 as the index, however, still managed to close higher for the week.

 

The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market; Friday traded at 11.33, down -2.81% …

  • Thursday traded at 11.79, down -1.34% after Wednesday traded at 13.13, up +13.29% after Tuesday traded at 11.59, up +0.78% after Monday traded at 11.50, up +1.86% and last Friday traded at 11.729, up +7.52% …

 

Welcome to another day of the sector’s roller coaster …

… The iShares Russell 2000 (IWM) indicated:

·         Friday was up +0.43%

·         Thursday +1.24%

·         Wednesday -0.40%

·         Tuesday -0.27%

·         Monday +$0.03%

·         Last Friday -0.06%

 

… The iShares NASDAQ Biotechnology (IBB) indicated:

·         Friday was up +0.13%

·         Thursday +1.49%

·         Wednesday +0.39%

·         Tuesday -1.62%

·         Monday -0.67%

·         Last Friday +0.37%

 

 

The count - decliners versus gainers:

……. look at the differences in the spreads as decliners jump and %

·         Friday’s decliners ranged from -0.33% <QURE -$0.05 > to -0.65% <BSTG -$0.005> in 15 equities;

·         Thursday’s decliners ranged from -0.34% < SGMO-$0.05> to -9.36% <AXGN -$2.30> in 13 equities;

·         Wednesday’s decliners ranged from -0.24% <XON -$0.03> to -12.96% <CAPR -$0.35> in 22 equities;

·         Tuesday’s decliners ranged from -0.25% <BCLI -$0.01> to -8.06% <CUR -$0.08> in 30 equities;

·         Monday’s decliners ranged from -0.24% <BCLI -$0.01> to -7.79% <ONVO -$0.12> in 25 equities;

·         Last Friday’s decliners ranged from -0.28% <KOOL -$0.01> to -25.63% <XON -$4.07> in 20 equities;

 

Versus

 

… Look at the percentage’s (%) and spreads …

·         Friday’s gainers ranged from +0.17% <SGMO +$0.02 > to +18.34% <NWBO +$0.034> in 26 equities;

·         Thursday’s gainers ranged from +0.25% <BCLI +$0.01> to +15.19% <VTGN +$0.12> in 28 equities;

·         Wednesday’s gainers ranged from +0.40% <AXGN +$0.10> to +13.57% <SGMO +$1.75> in 18 equities;

·         Tuesday’s gainers ranged from +0.61% <NWB) -$0.001> to +6.71% <FCSC +$0.11> in 11 equities;

·         Monday’s gainers ranged from +0.55% <ONCE +$0.40> to +11.34% <CAPR +$0.28> in 17 equities;

·         Last Friday’s gainers ranged from +0.50% <HSGX +$0.01> to +5.81% <JUNO +$3.16> in 22 equities;

 

 

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.