March 1, 2018 6:30pm
Sector open negative, split to the upside at 11:30a.m., hit the skids at the mid-day falling further by 2 p.m. and closed negative
The story of the sector: how many of us have never worked so hard and invest to get so little in return!
Pre-open indication results: 4 hits and 4 miss
Out and about: Aduro Biotech (-$0.10) and Intrexon (XON -$0.12) dive pre Q4 and FY17 release as XON jumps aftermarket +$0.61 or +4.73%
Why spend time finding sector news and analytics – it’s all right here; review daily indicators, factors and trend lines, advance/decline lines of 40 covered companies, pre-open indicator results, volatility and of the % count of decliners versus gainers.
Thursday’s results have implications to Friday’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, “…one word “frothy”… characterizes the first session of the month. How do we correlate the discrepancies and inconsistency of daily sector movement? It is not an expensive sector, yet optimism fades as anxiety turns to complacency.”
All three benchmarks were looking to kick off March trade with their worst daily decline in about three weeks, with the NASDAQ breaking below its 50-day moving average at 7,173.41.
The sessions rout for stocks follows an ugly month for all three benchmarks. Currently, the S&P 500 and the Dow have erased their year-to-date gains to turn negative for 2018, while the Dow was hanging on to a return for the year of about 3.6%.
Meanwhile, the VIX spiked on Thursday, jumping to 22.47 or 13.2% to hit a two-week high as stocks sold off. Thursday’s climb puts the so-called fear index, which tends to rise as stocks retreat, above its historic average at 20.
It all came down to the president saying the U.S. will set tariffs of 25 percent for steel and 10 percent for aluminum – nothing to do with “our” universe.
We could see a … bounce back of the oversold!
The advance/decline line scenario of 40 SCGT & RT covered companies:
- The open was negative with an A/DL of 15/22 and 3 flat ;
- 11:30 am moved positive with an A/DL of 20/18 and 2 flats;
- The mid-day slipped negative the A/DL to 17/19 and 4 flats;
- 2 p.m. accelerated a negative A/Dl with 10/28 and 2 flats;
- The close was negative with an A/DL of 14/24 and 2 flat;
Pre-open indication results: 4 hits and 4 miss
- AxoGen (AXGN) closed up +$4.75 – hit;
- Biostage (BSTG) closed down -$0.12 – hit;
- bluebird bio (BLUE) closed up +$2.15 – miss;
- Fate Therapeutics (FATE) closed up +$0.11 – miss;
- Caladrius Bioscience (CLBS) closed down -$0.02 – hit;
- Mesoblast (MESO) closed up +$0.25 – hit;
- Sangamo Therapeutics (SGMO) closed down -$0.45 – miss;
- Vericel (VCEL) closed up +$0.05 – miss;
MY working trend lines:
… The greatest volume to the downside: SGMO, JUNO, ADVM, XON and IMUC
… Upside volume was weighted to: MDXG, AXGN, ONCE, BLCM and BLUE
… Biggest $ downside: QURE (-$0.46), SGMO (-$0.45), STML (-$0.40), ADVM (-$0.28) and BLFS (-$0.13)
… Largest $ upside: AXGN (+$4.75), ONCE (+$3.01), BLUE (+$2.15), CLLS (+$0.35) and MESO (+$0.25)
… Flat: RENE.L and PSTI
Daily analytics:
U.S. equity indexes sank led by heavy selling in industrial stocks after President Donald Trump said he would impose tariffs on steel and aluminum imports, raising concerns of protectionists trade policies that could whack U.S. corporations and consumers.
- The Dow tumbled about 500 points, or 2%, at 24,540.
- The S&P 500 gave up 45 points, or 1.6%, to 2,670.
- The NASDAQ declined 112 points, or 1.6%, at 7,158.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,
- Thursday traded 22.47, up +13.2% …
- Wednesday traded at 19.84, up +6.72% …
- Tuesday traded at 18.59, up +17.66% …
- Monday traded at 15.80, down -4.18% …
- Friday traded at 16.64, down -11.11% …
- Last Thursday traded at 18.72, down -6.49% …
The iShares Russell 2000 (IWM) indicated:
- Thursday was down -0.31%
- Wednesday -1.53%
- Tuesday -1.45%
- Monday +0.64%
- Friday +1.30%
- Last Thursday -0.15%
The iShares NASDAQ Biotechnology (IBB) indicated:
- Thursday was down -0.96%
- Wednesday -1.83%
- Tuesday -1.25%
- Monday +0.73%
- Friday +2.08%
- Last Thursday -0.61%
The count - decliners versus gainers:
……. look at the differences in decliners:
- Thursday’s decliners ranged from -0.02% <JUNO -$0.02> to -5.74% <CYTX -$0.0198> in 24 equities;
- Wednesday’s decliners ranged from -0.21% <CLBS -$0.01> to -6.41% <AXGN -$2.00> in 25 equities;
- Tuesday’s decliners ranged from -0.31% <VSTM -$0.01> to -6.01%% <SGMO -$1.50> in 24 equities;
- Monday’s decliners ranged from -0.51% <RENE.L -$0.50> to -6.13% <MDXG -$0.48> in 17 equities;
- Friday’s decliners ranged from -0.34% <CLLS -$0.11> to -11.82% <MDXG -$1.05> in 17 equities;
- Last Thursday’s decliners ranged from -0.09% <JUNO -$0.08> to -8% <FCSC -$0.053> in 10 equities;
Versus
… Look at the percentage’s (%) and spreads …
- Thursday gainers ranged from +0.28% <MDXG +$0.02> to +16.27% <AXGN +$4.75> in 14 equities;
- Wednesday’s gainers ranged from +0.16% <JUNO +$0.14> to +9.63% <BSTG +$0.29> in 14 equities;
- Tuesday’s gainers ranged from +0.03% <JUNO +$0.03> to +5.84% <PSTI +$0.08> in 15 equities;
- Monday’s gainers ranged from +0.02% <JUNO +$0.02> to +17.93% <MESO +$1.11> in 20 equities;
- Friday’s gainers ranged from +0.02% <JUN) +$0.02> to +11.15% <FATE +$1.18> in 21 equities;
- Last Thursday’s gainers ranged from +0.15% <CLLS +$0.05> to +14.41% <SGMO +$3.20> in 28 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.
