November 20, 2017 6:22pm
The iShares Nasdaq Biotechnology (IBB -0.93%) and SPDR S&P Biotech (XBI -0.69%) were down
Low volume and no real news causes more than a little selling for profit-taking
A lot of hands are out, waiting for a payday while some fingers are readying a push of a turkey button i.e. get me out’a here!
Daily pre-open indications: 5 hits and 4 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!
Monday’s results have implications to Tuesday’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, “… holiday and end of the month getting closer. Investors should pause and reflect on gains and losses if risks hibernate in a holiday-shortened week. Many ask, why I continue – as a “true’ believer in the science, someone with the institutional history has to keep the record straight … My issue is the “posers” who inflate the hope and possibility of breakthroughs while “skimming” the G&A and cash positions, one example of a few - Biostage (BSTG).”
As I asked in this a.m.’s post, “Are we better off, at the moment renting the shares versus direct ownership?”
I don’t see many OUTRIGHT buy signals in the RegMed and cell therapy sector as the month closes ...
- we will see some UPS but most of those will be ridden down!
Big down days on high and low volume is typical when there is little or no news enhancing bottoms.
- What is going on DOES worry me because it is beyond a normal selloff after two (2) up sessions!
I see a lot of stocks that are priced in a RANGE and some that are languishing after speculation.
The advance/decline line scenario of 43 SCGT & RT covered companies:
· The open was negative with an A/DL of 18/23 and 2 flats ;
· The mid-day was positive with an A/DL of 24/18 and 1 flat;
· The close was negative with an A/DL of 19/24 and 0 flats;
Daily pre-open indication re-cap: 5 hit and 4 miss
- Aduro Biotech (ADRO) closed down -$0.05 – miss;
- Applied Genetic Technologies (AGTC) closed down -$0.15 – hit;
- AxoGen (AXGN) closed up +$0.70 – miss;
- bluebird bio (BLUE) closed up +$2.20 – miss;
- BioLife Solutions (BLFS) closed up +$0.19 – miss;
- Biostage (OTCQB: BSTG) closed down -$0.0001 – hit;
- Capricor (CAPR) closed down -$0.04 – hit;
- Cellectis SA (CLLS) closed up +$0.55 – hit;
- Sangamo Therapeutics (SGMO) closed up +$0.07 – hit;
Some of MY working trend lines or indications:
… The greatest volume to the downside: MDXG, CYTX, XON, CAPR and QURE
… Upside volume was weighted to: NWBO, ONVO, JUNO, SGMO and IMUC
… Biggest $ downside: ONCE (-$1.21), MDXG (-$0.76), XON (-$0.350, BLCM (-$0.27) and KOOL (-$0.20)
… Largest $ upside: BLUE (+$2.20), AXGN (+$0.70), CLLS (+$0.55), JUNO (+$0.42) and RGNX (+$0.25)
… Flat: 0
Daily analytics:
Stocks squeezed out small gains Monday. Trading is expected to remain subdued ahead of the Thanksgiving Day holiday on Thursday and an abbreviated Friday session.
· The S&P 500 rose 0.1%, while
· The Dow advanced around 72 points, or 0.3%.
· The NASDAQ rose 0.1%.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market; Monday traded at 10.65, down -6.82% …
- Friday traded at 11.33, down -2.81% after 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% and last Monday traded at 11.50, up +1.86% …
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Monday was up +0.72%
· Friday +0.43%
· Thursday +1.24%
· Wednesday -0.40%
· Tuesday -0.27%
· Last Monday +$0.03%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Monday was down -0.93%
· Friday +0.13%
· Thursday +1.49%
· Wednesday +0.39%
· Tuesday -1.62%
· Last Monday -0.67%
The count - decliners versus gainers:
……. look at the differences in the spreads as decliners jump and %
· Monday’s decliners ranged from -0.13% < QURE -$0.02> to -6.43% <MDXG -$0.76> in 24 equities;
· 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;
· Last Monday’s decliners ranged from -0.24% <BCLI -$0.01> to -7.79% <ONVO -$0.12> in 25 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Monday’s gainers ranged from +0.46% < FATE +$0.02 > to +32.42% <NWBO +$0.07> in 19 equities;
· 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;
· Last Monday’s gainers ranged from +0.55% <ONCE +$0.40> to +11.34% <CAPR +$0.28> in 17 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.
