December 15, 2017 4:50pm

There is a huge gap between the interests of investors and the issues of corporate transparency

 

… Granularity is not a buzzword; it’s about the level of details in a transaction

As investors more than usually receive an incomplete depiction, one that highlights the positive but, buries the consequences and even the meaning of some releases

 

I’m not writing this to be a preacher but, in the New Year companies will need to issue more than a snapshot of events to maintain their relevance to investors or they will be just dependent on algorithms which don’t understand the hope of a cure

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, “…Friday marks Quadruple Witching Day. Investors need to study the news; rather than “follow “it”, that explains why they fail to learn from the exposure. Posts should not be forgotten going forward, they also tell a story of future behaviors. When exposed, corporate failings are a symptom of cause and consequence; while pricing arbitrage is an issue today.”

As I had stated, “Friday also marks Quadruple Witching Day, where volatility is likely as stock index futures, stock index options, stock options, and single-stock futures expire.”

Cell, stem and gene therapy small-cap stocks didn’t fare well today or even this week.

  • The S&P gained with health-care stocks leading the gains up 1% - so what happened to RegMed shares – they were split, half of our 40 covered with 19 down, 19 up and 2 flats (40 total covered).

The Russell 2000 (RUT) was up 4 points, or 0.3%, to 1,511 but on track to end the week with 0.7% loss.

  • Much of the action surrounding quadruple witching days were about offsetting, closing or rolling out positions with the result elevating volume, particularly in the last hour of trading.

Possibly the option chafe was totally swept out by the “witch” and we could have a positive open and closed on Monday!

 

 

The advance/decline line scenario of 40 SCGT & RT covered companies:   

·         The open was negative with an A/DL of 12/22 and 6 flat ;

·         The mid-day was negative with an A/DL of 16/22 and 2 flats;

·         The close was neutral with an A/DL of 19/19 and 2 flat;

 

MY working trend lines or indications:

… The greatest volume to the downside:  IMUC, VSTM, SGMO, BLUE and CUR

… Upside volume was weighted to:  JUNO, MDXG, BSTG, ONVO and XON

… Biggest $ downside: BLUE (-$1.40), VSTM (-$0.51), CLLS (-$0.32), QURE (-$0.23) and AGTC (-$0.12)

… Largest $ upside:  ONCE (+$1.16), AXGN (+$1.15), RGNX (+$1.10), JUNO (+$0.51) and MDXG (+$0.36)

… Flat:  NWBO and RENE.L

 

 

Daily analytics:

U.S. stock-market indexes advanced on Friday, with the Dow and S&P 500 scaling fresh intraday records and on track to post weekly gains, as investors appeared to shake off the latest worries over progress for tax cuts.

·         The Dow advanced 110 points, or 0.4%, to 24,613, trading above its previous record close.

·         The S&P 500 index gained 16 points, or 0.6%, to 2,668.32, also trading in record territory.

·         The NASDAQ rose 21 points, or 0.3%, to 6,877.

 

The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market; Friday traded at 9.39, down -10.49% …

  • Thursday traded at 10.49, up +3.05% after Wednesday traded at 10.18, up +2.62% after Tuesday traded at 9.92, up +6.21% after Monday traded at 9.34, down -2.51% and last Friday traded at 9.58, down -5.71% …

 

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

… The iShares Russell 2000 (IWM) indicated:

·         Friday was up +1.41%

·         Thursday -1.10%

·         Wednesday +0.58%

·         Tuesday -0.31%

·         Monday -0.05%

·         Last Friday +0.10%

 

… The iShares NASDAQ Biotechnology (IBB) indicated:

·         Friday was up +1.36%

·         Thursday -1.45%

·         Wednesday +0.91%

·         Tuesday -0.44%

·         Monday +0.15%

·         Last Friday +1.94%

 

 

The count - decliners versus gainers:

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

·         Friday’s decliners ranged from -0.30% <NWBO -$0.0008> to -18.09% <IMUC -$0.079> in 19 equities;

·         Thursday’s decliners ranged from -0.30% <BLUE -$0.55> to -8.60% <FATE -$0.40> in 24 equities;

·         Wednesday’s decliners ranged from -0.69% <AGTC -$0.025> to -3.88% <CYTX -$0.0097> in 8 equities;

·         Tuesday’s decliners ranged from -0.91% <IMUC -$0.0021> to -5.38% <BLUE -$10.85> in 27 equities;

·         Monday’s decliners ranged from -0.56% <MESO -$0.03> to -34.97% <ONCE -$25.66> in 27 equities;

·         Last Friday’s decliners ranged from -0.48% <FATE -$0.02> to -11.33% <VTGN -$0.23> in 19 equities;

Versus

 

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

·         Friday’s gainers ranged from +0.22% <BTX +$0.01> to +43.27% <BSTG +$0.024> in 19 equities

·         Thursday’s gainers ranged from +0.92% <QURE +$0.16> to +82.44% <IMUC +0.182> in 13 equities;

·         Wednesday’s gainers ranged from +0.26% <BCLI +$0.01> to +14.21% <CUR +$0.26> in 30 equities;

·         Tuesday’s gainers ranged from +0.76% <CYTX +$0.00> to +5.15% <MDXG +$0.60> in 11 equities;

·         Monday’s gainers ranged from +0.88% <CLLS +$0.22> to +17.91% <BLUE +$30.65> in 12 equities;

·         Last Friday’s gainers ranged from +0.69% <CLLS +$0.17> to +9.07% <VSTM +$0.36> in 19 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.