January 5, 2018 5:51pm
Volume, volatility and momentum rule the session
As I had stated, “I am usually an optimist yet I feel a foreboding twitch re the sector’s utter speculation beyond the usual oversold or overbought conditions.”
Today’s upside share pricing seems stretched while many of the downsized are oversold
Pre-open indications: 5 hits and 5 miss
Out and about: The Biostage (BSTG -$0.168) chronicles …
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, “dips pre-JP Morgan could foretell another equity slippery slope. The issue, ETF exposure, algorithms secede the trade versus investors as traders play equity monopoly, skimming some “vig” while leveraging momentum. Review the “ups”, volume is still low while the downsized experienced higher numbers.”
I also said, “Investors have an undersupply of reliable information of the sector which contributes to momentum and empowers traders to “bully” a stock and day traders or charlatans allow deceptive thinking to surface and thrive! … This basically defines momentum …”
My words resonated today …
Headed to the "West Coast" for the BIG event - JP Morgan --- WATCH your share price wallet!
The advance/decline line scenario of 40 SCGT & RT covered companies:
· The open was negative with an A/DL of 19/20 and 1 flat ;
· The mid-day was negative with an A/DL of 14/23 and 3 flat;
· The close was negative with an A/DL of 18/20 and 2 flat;
MY working trend lines or indications:
… The greatest volume to the downside: RENE.L, RGNX, VSTM, SGMO and ONCE
… Upside volume was weighted to: CYTX, JUNO, XON, NWBO and FCSC
… Biggest $ downside: RGNX (-$7.35), BLUE (-$2.10), ONCE (-$1.28), SGMO (-$0.65) and STML (-$0.55)
… Largest $ upside: AXGN (+$2.40), CLLS (+$0.84), JUNO (+$0.29), XON (+$0.26) and AGTC (+$0.20)
… Flat:
Pre-open indications:
- Adverum (ADVM) closed up +$0.05 – hit;
- Applied Genetic Technologies (AGTC) closed up +$0.20 – miss;
- Asterias Biotherapeutics (NYSEMKT: AST) closed up +$0.05 – miss;
- AxoGen (AXGN) closed up +$2.40 – hit;
- BioLife Solutions (BLFS) closed up +$0.17 – hit;
- BioTime (NYSEMKT: BTX) closed down -$0.04 – hit;
- Cellectis SA (CLLS) closed up +$0.84 – miss;
- Fate Therapeutics (FATE) closed down -$0.17 – miss;
- Regenxbio (RGNX) closed down -$7.35 – hit;
- Verastem (VSTM) closed down -$0.08 – miss;
Out and about:
BSTGD This management team WIPED OUT 20 M of shareholders holdings and investment!
Opened at $2.21 (previous closed $2.21) then declined -$0.168 or -7.63% to close DOWN at $2.04 in a day’s range of $2.00 to $2.21 with 6,647 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!
Who and what’s “playing” the stock – day traders. NO scientists, a CEO, CFO and 2 accountants don’t make a company who couldn’t pay their rent or communicate their issues to past “fleeced” shareholders …
I am NOT “eating” my negative declarations, my OPINION is still “FRAUD” and “COVER UP of MISDEEDS “by this management team!
Daily analytics:
U.S. stock indexes rose on Friday, with equity benchmarks hitting records for a fourth straight session after the December jobs report indicated further improvements in the labor market, while not being so strong as to accelerate the Federal Reserve’s pace of rate hikes for 2018.
· The Dow rose about 150 points, or 0.6%, to 25,223.
· The S&P 500 index was up 13 points, or 0.5%, to 2,736.
· The NASDAQ gained 44 points to 7,121, a gain of around 0.6%.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market, Friday traded at 9.22, flat at 0.00%
- Thursday traded at 9.22, up +0.77% after Wednesday traded at 9.15, down -6.35% after Tuesday traded at 9.77, down -11.50%, Monday was New Year’s day and last Friday traded at 10.79, up +5.99% …
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Friday was up +0.21%
· Thursday was up +0.24%
· Wednesday was up +0.12%
· Tuesday was up +0.92%
· Monday was New Year’s Day
· Last Friday was down -0.80%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Friday was down -0.13%
· Thursday was down -0.82%
· Wednesday was up +1.41%
· Tuesday was up +2.41%
· Monday was New Year’s Day
· Last Friday was down -0.95%
The count - decliners versus gainers:
……. look at the differences in decliners:
· Friday’s decliners ranged from -0.28% <BCLI -$0.01> to -20.88% <RGNX -$7.35> in 20 equities;
· Thursday’s decliners ranged from -0.70% <PSTI -$0.01> to -8.45% <XON -$1.19> in 19 equities;
· Wednesday’s decliners ranged from -0.62% <MDXG -$0.08> to -5.42% <CUR -$0.11> in 15 equities;
· Tuesday’s decliners ranged from -0.63% <CAPR -$0.01> to -% <BCLI -$0.27> in 7 equities;
· Monday was a holiday
· Last Friday’s decliners ranged from -0.35% <FCSC -$0.00> to -6.52% <AST -$0.15> in 25 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Friday’s gainers ranged from +0.61% <JUNO +$0.29> to +73.75% <CYTX +$0.20> in 18 equities;
· Thursday’s gainers ranged from +0.45% <QURE +$0.09> to +13.95% <AST +$0.30> in 21 equities;
· Wednesday’s gainers ranged from +0.32% <KOOL +$0.01> to +17.81% <ADVM +$0.65> in 23 equities
· Tuesday’s gainers ranged from +0.32% <STML +$0.05> to +18.02% <CUR +$0.31> in 31 equities
· Monday was a holiday
· Last Friday’s gainers ranged from +0.17% <MESO +$0.01> to +29.37% <BCLI +$0.89> in 14 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.
