March 20, 2018 5:38pm
The sector shows some highs and lower lows while breadth declines
As the IBB (+0.05), XLV (-0.20%) and XBI (+0.24%) start their move forward
While volume dips
Pre-open indications: 5 HITs and 2 MISS
Interpretation, insight and translation with an end-of-day recap of the sessions impact, settlement with an opinion of what could or should happen the next session thrown in.
Defining sentiment, it's complicated ...
Henry’omics:
From the pre-open’s newsletter, “…warning signs or a buying time? The past five (5) sessions have alternated, been down, been up one (1) following two (2) downs with an up last Tuesday with wild swings that don't seem likely to end any time soon. Yet I believe it is time to take a “taste” of some downers, think of it as bourbon that gives you a hit after a “pull”! Macro concerns of the Fed expecting to raise interest rates still stunts market’s uncertainty. As for the “usual suspects” - look for “bouncers” given the sector's collapse. It’s better to be early or you’ll be late!”
Trading was somewhat subdued as investors turned their complacent heads on the downside and focused on watching from the sidelines (as I heard from a few brokers and hedge funds).
We are all still waiting for a statement by the Fed, which is expected to announce an increase in its key interest rate Wednesday afternoon.
On the downside, bluebird bio (BLUE) fell 2.9% or -$5.65%, extending a seven (7) session decline followed by Stemline (STML) -6.80% or -$1.16.
In the upside arena, a few lions roared … QURE +6.64%, SGMO +4.33% and RGNX +2.92%.
Many days it’s safe to be flat than a “splat” … BSTG, OSIR and RENE.L
Volume was low except in some cases to the downside like CLBS; while upside volume assisted … CLLS +$0.62, QURE +$1.38 and SGMO +$1.00
The advance/decline line scenario of 40 covered companies:
- The open was negative with the A/DL to 14/21 and 5 flats;
- The mid-day was negative with an A/DL of 11/25 and 4 flats;
- The close continued negative with an A/DL of 14/23 and 3 flat;
Pre-open indications: 5 HITs and 2 MISS
- Applied Genetic Technologies (AGTC) closed down -$0.10 – miss;
- Spark Therapeutics (ONCE) closed up +$0.34 – hit;
- AxoGen (AXGN) closed up +$0.65 – miss;
- Osiris (OSIR) closed flat at $0.00 – hit;
- Adverum (ADVM) closed up +$0.05 – hit;
- bluebird bio (BLUE) closed down -$5.65 – hit;
- BioLife Solution (BLFS) closed up +$0.10 – hit;
MY working trend lines:
… The greatest volume to the downside: XON, VSTM, STML, PSTI and ONVO
… Upside volume was weighted to: VCEL, SGMO, RGNX, QURE and ONCE
… Biggest $ downside: BLUE (-$5.65), XON (-$1.16), STML (-$0.35), FATE (-$0.27) and CAPR (-$0.11)
… Largest $ upside: QURE (+$1.38), SGMO (+$1.00), RGNX (+$0.85), AXGN (+$0.65) and CLLS (+$0.62)
… Flat: RENE.L, OSIR and BSTG
Daily analytics:
U.S. stocks ended modestly higher on Tuesday, in a partial rebound from the previous session's sharp decline.
- The Dow rose 121 points, or 0.5%, to 24,730.
- The S&P 500 rose 4 points, or 0.2%, to 2,717.
- The NASDAQ gained 20 points to 7,364, a rise of 0.3%.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,
- Tuesday traded at 18.20, down -4.31% …
- Monday traded at 19.02, up +20.38%
- Friday traded at 15.80, down -4.76%
- Thursday traded at 16.59, down -3.71%
- Wednesday traded at 17.23, up +5.38%
- Last Tuesday traded at 16.43, up +4.12%
The iShares Russell 2000 (IWM) indicated:
- Tuesday was down -0.02%
- Monday -0.95%
- Friday +0.53%
- Thursday -0.49%
- Wednesday -0.46%
- Last Tuesday -0.43%
The iShares NASDAQ Biotechnology (IBB) indicated:
- Tuesday was up +0.05%
- Monday -2%
- Friday +0.06%
- Thursday -0.98%
- Wednesday -0.12%
- Last Tuesday -0.71%
The count - decliners versus gainers:
……. look at the differences in decliners:
- Tuesday’s decliners ranged from -0.17% <CLBS -$0.01> to -6.80% <XON -$1.116> in 23 equities;
- Monday’s decliners ranged from -0.23% <XON -$0.04> to -9.03% <ADVM -$0.65> in 25 equities;
- Friday’s decliners ranged from -0.34% < FATE -$0.04> to -6.92% <BLUE -$14.85> in 17 equities;
- Thursday’s decliners ranged from -0.28% < CLLS -$0.10> to -9.35% <IMUC -$0.026 > in 27 equities;
- Wednesday’s decliners ranged from -0.15% <RGNX -$0.05> to -11.42% <IMUC -$0.036> in 21 equities;
- Last Tuesday’s decliners ranged from -0.62% <NWBO -$0.00> to -4.16% <BLUE -$9.70> in 16 equities;
Versus
… Look at the percentage’s (%) and spreads …
- Tuesday’s gainers ranged from +0.53% <ATHX +$0.01> to +6.64% <QURE +$1.38> in 14 equities;
- Monday’s gainers ranged from +0.03% <CYTX +$0.0001> to +5.45% <OSIR +$0.47> in 14 equities;
- Friday’s gainers ranged from +0.12% <NWBO +$0.0004> to +11.48% <FCSC +0.07> in 23 equities;
- Thursday’s gainers ranged from +0.31% <NWBO +0.001> to +7.02% <FCSC +$0.04> in 11 equities;
- Wednesday’s gainers ranged from +0.60% <VSTM +$0.02> to +11.18% <CLLS +3.54> in 18 equities;
- Last Tuesday’s gainers ranged from +0.62% <CYTX +$0.002> to +2.03% <AXGN +$0.70> in 19 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.
