December 27, 2017 5:06pm
As low volume cranks some and leaves a few scrambling for any upside
Investors are still scarred from the sector as no one wants to get caught in another downdraft
Pre-open indications: 2 hit and 4 miss
Out and about: Biostage (BSTGD) is getting scooped as former executive “scattered” to Dean Kamen’s Manchester Millyard who has assembled an impressive set of partners, including Rockwell Automation (the world’s largest industrial automation company) along with software powerhouse Autodesk, Dartmouth College, Harvard University and the DOD.
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 newsletter, “… the constancy of the battle between the oversold and the overbought. Low volume heightens the game of pick-up sticks, I mean stocks.”
As I had stated, “The real issues is bending (our own "rules") to acquire which equities or sell but, based on WHAT? It is beyond the oversold or overbought...”
Trading volume was on pace for the second-lowest of the year, with only Black Friday's half-day of trading posting lower volume.
On a monthly basis, the indexes are tracking for gains not seen in decades.
- The Dow is on pace for its first nine-month winning streak since 1959 and the S&P is on track for its first nine-month winning streak since 1983.
- The S&P 500 is up 19.7% this year, while the small-cap Russell 2000 is up about 13.8%.
- The NASDAQ traded mildly lower
Pre-open indications: 2 hit and 4 miss
- Fate Therapeutics closed up +$0.36 – miss;
- bluebird bio (BLUE)closed down -$1.20 – hit;
- uniQure (QURE) closed down -$0.17 – hit;
- Capricor (CAPR) closed up +$0.12 – miss;
- Histogenics (HSGX) closed down -$0.05 – miss;
- MiMedx Group (MDXG) closed down -$0.03 – miss;
The advance/decline line scenario of 40 SCGT & RT covered companies:
· The open was positive with an A/DL of 23/14 and 3 flat ;
· The mid-day was positive with an A/DL of 22/16 and 2 flats;
· The close was positive with an A/DL of 20/18 and 2 flat;
MY working trend lines or indications:
… The greatest volume to the downside: ONVO, ATHX, MDXG, ONCE and VTGN
… Upside volume was weighted to: IMUC, FATE, XON, JUNO, CAPR and VSTM
… Biggest $ downside: BLUE (-$1.20), ONCE (-$0.40), QURE (-$0.17), ADRO (-$0.15) and OSIR (-$0.13)
… Largest $ upside: RGNX (+$0.60), STML (+$0.55), AXGN (+$0.40), JUNO (+$0.40) and SGMO (+$0.40)
… Flat: BSTGD, BTX and RENE.L
Out and about:
Biostage (OTCQB: BSTGD) continued …
Opened at $0.85 (previous closed $0.92) dropping -$0.00 in a day’s range of $0.83 to $1.00 with 19,271 shares traded following the projected $1.32 post the 1-to-20 reverse split – a $4 M in-flow just followed a $30 M investment loss incurring a $47 M deficit!
It ain't over, more than many investors are agitating ... it will spill over ...!!
Daily analytics:
U.S. stock benchmarks logged slight gains on Wednesday, helping to halt a two-day skid for equities. However, volumes were seasonally low and activity muted as investors are reluctant to make big bets with just a few trading days remaining in 2017.
· The Dow ended up about 28 points, or 0.1%, at 24,774.
· The S&P 500 index finished up 2 points, or 0.1%, at 2,682.
· The NASDAQ edged up 3 points, or less than 0.1%, to 6,939.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market; Wednesday traded at 10.47, up +2.15% …
- Tuesday traded at 10.25, up +0.47% following the previous Tuesday trading at 9.92, up +6.21% …
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Wednesday was down -0.10%
· Tuesday closed +0.04%
· The previous Tuesday was down -0.76%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Wednesday was up +0.14%
· Tuesday closed up +0.47%
· The previous Tuesday was down -0.24%
The count - decliners versus gainers:
……. look at the differences in decliners:
· Wednesday’s decliners ranged from -0.16% <BLFS -$0.01> to -6.21% <ONVO -$0.09> in 17 equities;
· Tuesday’s decliners ranged from -0.47% <BLFS -$0.03> to -29.1% <BSTG -$0.375> in 16 equities;
· The previous Tuesday’s decliners ranged from -0.11% <CLLS -$0.03> to -% <NWBO -$0.0423> in 20 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Wednesday’s gainers ranged from +0.43% <NWBO +$0.001> to +8.22% <CAPR +$0.12> in 20 equities
· Tuesday’s gainers ranged from +0.30% <SGMO +$0.05> to +11.94% <FATE +$0.67> in 22 equities
· The previous Tuesday’s gainers ranged from +0.18% <JUNO +$0.08> to +5.88% <QURE +$1.01> 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.
