March 2, 2018 6:07pm
… Even I was surprised of the rapidity of the undervalued to the upside
Which says a lot of the viability and capriciousness of pricing?
... The IBB (+2.44%), XBI (+2.73%) and the XLV (+1.08%) advanced having been negative in the pre-open. The NASDAQ rose +1.08% having fallen 1.3%.
A recurring issue, low volume and volatility of the moves
Pre-open indication results: 2 HITs and 1 MISS
Interpretation, insight and translation after the pre-open thesis … an end-of-day recap of the session’s impact, settlement with a little prognosis of what could or should happen next thrown in.
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, “… the market skunk sprayed the sector… It happened before, it happens again and it will another time. Oversold equities are today’s happening; the question is when this downturn will ‘end” itself as I believe the reverberations are not over… just slow breathe through it, it’s Friday.”
A sigh of relief that went with the Bloody Mary; the volume and volatility is a symptom of re-testing some lows after the quick reflex of highs.
The first three (3) weeks of March will be focused on Q4 and FY17 results re revenues, spending, cash positions and meeting or missing “street” expectations.
Pricing action will be a refection upon relative strength and its “muscle” métier
Relative strength is a measure of the price trend of a stock compared to another stock, instrument or industry. It is calculated by taking the price of one asset and dividing it by another.
The advance/decline line scenario of 40 SCGT & RT covered companies:
- The open was negative with an A/DL of 9/27 and 4 flat ;
- 11:30 am moved positive with an A/DL of 23/10 and 7 flats;
- The mid-day stayed positive the A/DL to 27/9 and 4 flats;
- The close was positive with an A/DL of 30/7 and 3 flat;
Pre-open indication results: 2 hits and 1 miss
- AxoGen (AXGN) closed down -$1.00 – hit;
- Intrexon (XON) closed up +$3.19 – hit;
- Fate Therapeutics (FATE) closed up +$1.90 – miss;
MY working trend lines:
… The greatest volume to the downside: AXGN, CUR, PSTI, CLBS and KOOL
… Upside volume was weighted to: XON, MDXG, JUNO, SGMO and FATE
… Biggest $ downside: AXGN (-$1.00), BSTG (-$0.12), CUR (-$0.02), KOOL (-$0.02) and ISCO (-$0.02)
… Largest $ upside: ONCE (+$5.56), XON (+$3.19), BLUE (+$2.95), FATE (+$1.90) and QURE (+$1.63)
… Flat: RENE.L, NWBO and AST
The shifting sands of depreciation, which didn’t experience the upside moves:
- BSTG, AXGN, CUR, ISCO, KOOL, PSTI and CLBS
Daily analytics:
U.S. stocks closed mostly higher in a wild action on Friday, with the Nasdaq and S&P 500 snapping a three-session losing streak as President Donald Trump escalated the rhetoric around a potential trade war in the wake of a pledge for tariffs on steel and aluminum imports. However, fears ebbed by the end of the session.
- The Dow closed down about 70 points, or 0.3%, but the average had been down by as many as 390 points.
- The S&P 500 index closed higher, up 0.5% at 2,691.
- The NASDAQ was up 1.1% at 7,257.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,
- Friday traded at 19.59, down -12.82% …
- 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% …
- Last Friday traded at 16.64, down -11.11% …
The iShares Russell 2000 (IWM) indicated:
- Friday was up +1.57%
- Thursday -0.31%
- Wednesday -1.53%
- Tuesday -1.45%
- Monday +0.64%
- Last Friday +1.30%
The iShares NASDAQ Biotechnology (IBB) indicated:
- Friday was up +2.44%
- Thursday -0.96%
- Wednesday -1.83%
- Tuesday -1.25%
- Monday +0.73%
- Last Friday +2.08%
The count - decliners versus gainers:
……. look at the differences in decliners:
- Friday decliners ranged from -0.21% <CLBS -$0.01> to -3.77% <BSTG -$0.12> in 7 equities;
- 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;
- Last Friday’s decliners ranged from -0.34% <CLLS -$0.11> to -11.82% <MDXG -$1.05> in 17 equities;
Versus
… Look at the percentage’s (%) and spreads …
- Friday’s gainers ranged from +0.14% <JUNO +$0.12> to +24.73% <XON +$3.19> in 30 equities;
- Thursday’s 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;
- Last Friday’s gainers ranged from +0.02% <JUN) +$0.02> to +11.15% <FATE +$1.18> in 21 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.
