February 23, 2018 6:03pm
Sector intelligence and perspective
Algorithms kicked the sector to the upside along with the IBB (+2.08%) and XLV (+1.63%) which were not indicating in the pre-open with the XBI (+1.51%) jumping higher as the NASDAQ (+1.77%) floated
Volatility is like the current New England weather, your e-mail starts to fill up with jokes about when bathing suit weather appears and then disappears in hours.
Which also shows sector equities are vulnerable to machine impetus in no, good and bad news days
Pre-open indication results: 4 hits and 6 miss
Review the advance/decline lines of 40 covered companies; daily indication results, trend lines, volatility, daily analytics, the % count of decliners versus gainers and a few surprises in the shifting sands of appreciation
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, “… nervous after two (2) dramatic upside sessions with a spit sector, overbought with an oversold bias? With volume on low side as the NASDAQ and IBB weakened. The sector suffers a heavy weight of expectation.”
Today’s action has highlighted the “witching” hours and the market-on-close imbalances.
It was a volatile week for stocks, with the major averages posting strong gains in early trading before closing off those highs in the previous three sessions. On Friday, the Dow, S&P 500 and NASDAQ bucked that trend.
Those gyrations happen more frequently starting between 10:30 a.m. to 11:30 a.m. and 2:30 and 3 p.m. E.T. daily, with the indexes swing sharply rescind and/or upswing, within the final one hour to 90 minutes of end-of-day trading.
As computer-driven or algorithmic trading trigger buy and sell signals at certain technical levels.
While 50-day moving averages for the benchmarks can … also result in abrupt selling intraday!
Quarterly financial and FY17 results:
https://www.regmedinvestors.com/articles/10142
Pre-open indication results: 4 hits and 6 miss
· Adverum (ADVM) closed up +$0.15 – hit;
· AxoGen (AXGN) closed up +$0.30 – hit;
· Bellicum Pharmaceuticals (BLCM) closed up +$0.36 – hit;
· bluebird bio (BLUE) closed +4.85 – miss;
· Caladrius Bioscience (CLBS) closed flat -$0.00 – hit;
· MiMedx (MDXG) closed down -$1.95 – miss;
· UniQure (QURE) closed down -$0.36 – miss;
· Sangamo Therapeutics (SGMO) closed down -$0.45 – miss;
· Spark Therapeutics (ONCE) closed up +$0.83 – miss;
· Stemline Therapeutics (STML) closed up +$0.15 – miss;
The shifting sands of appreciation:
The come-back sector stocks: ADVM (+$0.15), ADRO (+$0.40), ATHX (+$0.02), HSGX (+$0.04), STML (+$0.15), XON (+$0.52) and especially BLUE (+$4.85), FATE (+1.18), BLFS (+$0.03) and VCEL (+$0.35)
While the downers: AGTC (-$0.10), CLLS (-$0.11), VSTM (-$0.07), NWBO (-$0.012), OSIR (-$0.08) and FCSC (-$0.019), ONVO (-$0.02 after Q3 results) were DUE …
Surprised by: QURE (-$0.36), AXGN (+$0.30), and BLCM (+$0.36)
Sliding: CAPR (+$0.00) post news
Going nowhere: BSTG (+$0.00), KOOL (+$0.02) and BCLI (+$0.01)
The advance/decline line scenario of 40 SCGT & RT covered companies:
· The open was negative with an A/DL of 11/25 and 4 flat ;
· The mid-day was negative with an A/DL of 12/25 and 3 flat;
· The close was positive with an A/DL of 21/17 and 2 flat;
MY working trend lines:
… The greatest volume to the downside: MDXG, SGMO, NWBO, FCSC and ONVO
… Upside volume was weighted to: JUNO, BLCM, ADVM, FATE and XON
… Biggest $ downside: MDXG (-$1.05), SGMO (-$0.45), QURE (-$0.36), CLLS (-$0.11) and AGTC (-$0.10)
… Largest $ upside: BLUE (+$4.85), FATE (+$1.18), RENE.L (+$1.00), ONCE (+$0.83) and XON (+0.52)
… Flat: CLBS, CAPR, BSTG and AST
Daily analytics:
U.S. stocks rallied Friday afternoon as U.S. benchmarks looked set to end trade on a high note after a bumpy, albeit shortened, week of trade marked by persistent fretting about rising bond yields and the reemergence of long-stagnant inflation.
· Dow rose 282 points, or 1.1%, to 25,243.
· The S&P 500 index added 38 points, or 1.4%, to 2,742.
· The NASDAQ surged 117 points, or 1.6%, to 7,327.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market, Friday traded at 16.64, down -11.11% …
· Thursday traded at 18.72, down -6.49% …
· Wednesday traded at 20.22, down -2.82% …
· Tuesday traded at 20.60, up +5.86% …
· Monday was a market holiday
· Last Friday traded 19.46, up +1.73% …
The iShares Russell 2000 (IWM) indicated:
· Friday was up +1.30%
· Thursday -0.15%
· Wednesday +0.09%
· Tuesday -0.83%
· Monday was a market holiday
· Last Friday +0.36%
The iShares NASDAQ Biotechnology (IBB) indicated:
· Friday was up +2.08%
· Thursday was down -0.61%
· Wednesday was down -0.16%
· Tuesday was down -1.01%
· Monday was a market holiday
· Last Friday was down -0.37%
The count - decliners versus gainers:
……. look at the differences in decliners:
· Friday’s decliners ranged from -0.34% <CLLS -$0.11> to -11.82% <MDXG -$1.05> in 17 equities;
· Thursday’s decliners ranged from -0.09% <JUNO -$0.08> to -8% <FCSC -$0.053> in 10 equities;
· Wednesday’s decliners ranged from -0.15% <BSTG -$0.00> to -10.63% <RENE.L> in 13 equities;
· Tuesday’s decliners ranged from -0.14% <JUNO -$0.12> to -39.53% <MDXG -$5.72> in 26 equities;
· Monday was a market holiday
· Last Friday’s decliners ranged from -0.31% <STML -$0.05> to -% <CAPR -$0.15> in 17 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Friday’s gainers ranged from +0.02% <JUN) +$0.02> to +11.15% <FATE +$1.18> in 21 equities;
· Thursday’s gainers ranged from +0.15% <CLLS +$0.05> to +14.41% <SGMO +$3.20> in 28 equities;
· Wednesday’s gainers ranged from +0.08% <XON +0.01> to +15.49% <FATE +$1.42> in 24 equities;
· Tuesday’s gainers ranged from +0.39% <FCSC +$0.0026> to +4.70% <BLCM +$0.31> in 12 equities;
· Monday was a market holiday;
· Last Friday’s gainers ranged from +0.12% <QURE +$0.03> to +10.55% <BLCM +$0.63> in 18 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.
