April 20, 2018 6:50pm

Breaking below the 50-day moving average causing a technical washout

As the IBB cratered -0.88%

 

Today was a good day to be flat than a “splat” – 6 out of 40 covered!

As I had stated, “start drinking to start celebrating NOT making buying or selling missteps.”

 

End of day briefing; the “numbers” speak!

Henry’omics:

Today’s moves … big word – resistance and an option stop trading Friday

Sector stocks extended Thursday and Wednesday's losses to also end lower on Friday, as weakness continued.

 

The advance/decline line scenario of 40 covered companies:   

  • The open was negative with the A/DL to 17/20 and 3 flat;
  • The close concluded negative with an A/DL of 12/22 and 6 flat;

 

From the pre-open’s newsletter, “… deep threat as news is the life line of the sector and also one of the roots of sentiment’s negativity; yet, the assumption behind news is a question, does it “shape” share pricing and for how long?”

As I had stated, “today’s sector …pure speculation even as the oversold stand-out or are they actually undervalued in this … market? Many sector companies are in denial as to the viability of their development programs while transparency is at a low and investor communication barely exists.”

 

Feathering the sector – anomalies:

Intrexon (XON) closed down -$0.14 to $17.94 with 3.06 M shares traded <3 month average = 1.58 M shares>;

  • VistaGen (VTGN) closed down -$0.15 to $0.93 with 1.22 M shares traded <3 month average = 677 K shares>;

AxoGen (AXGN) closed down again -$0.25 to $40.00 with 411.34 K shares traded <3 month average = 332.56 K shares> after Thursday’s -$0.40 with 270.6 K shares traded;

 

Not feeling any “love”:

Capricor (CAPR) closed down -$0.09 to $1.37 with 317.69 K shares traded <3 month average = 500.11 K shares> after a week of descending value – Thursday ($1.46), Wednesday ($1.42), Tuesday ($1.53), Monday ($1.55 and last Friday’s $1.58) – desperately need a financing;

  • Cellectis SA (CLLS) closed down -$0.34 to $29.71 with 90.59 K shares traded <3 month average =343.97 K shares> following last Friday’s $30.85;

 

Review the 15 sessions of April’s (of 40 covered companies) there have been eight (8) negative and six (6) positive and one (1) neutral closes:

  • Friday closed NEGATIVE with 22 decliners, 12 advancers and 6 flat;
  • Thursday closed NEGATIVE with 28 decliners, 9 advancers and 3 flats;
  • Wednesday closed NEGATIVE with 24 decliners, 14 advancers and 2 flat;
  • Tuesday closed POSITIVE with 24 decliners, 15 advancers and 1 flat;
  • Monday closed NEGATIVE with 21 decliners, 14 advancers and 5 flats;
  • Friday closed barely NEGATIVE with 18 decliners, 17 advancers and 5 flats;
  • Thursday closed POSITIVE with 8 decliners, 30 advancers and 2 flats;
  • Wednesday closed NEUTRAL with 19 decliners, 19 advancers and 2 flats;
  • Tuesday closed POSITIVE with 7 decliners, 32 advancers and 1 flats;
  • Monday closed POSITIVE with 12 decliners, 23 advancers and 5 flats;
  • Friday closed NEGATIVE with 32 decliners, 7 advancers and 1 flats;
  • Thursday closed NEGATIVE with 25 decliners, 11 advancers and 4 flats;
  • Wednesday closed POSITIVE with 11 decliners, 28 advancers and 1 flat;
  • Last Tuesday closed POSITIVE with 19 decliners, 19 advancers and 2 flats;
  • The previous Monday closed NEGATIVE with 9 decliners, 31 advancers and 0 flats

 

MY working five (5) trend lines:

… The greatest volume to the downside:  XON, VTGN, VCEL, SGMO and PSTI

… Upside volume was weighted to:  VSTM, STML, RGNX, RENE.L, QURE and OSIR

… Biggest $ downside:  CLLS (-$0.34), AXGN (-$0.25), VCEL (-$0.200, MESO (-$0.19) and SGMO (-$0.15)

… Best moves to the $ upside:  RENE.L (+$1.50), QURE (+$0.74), RGNX (+$0.55), ONCE (+$0.23) and MDXG (+$0.21)

… Flats: AGTC, ATHX, BSTG, BLUE and BLFS

 

Daily analytics:

U.S. stocks extended losses in late trade to end lower on Friday as the selling pressure intensified.

  • The Dow fell 201.95 points, or 0.8%, to 24,462.94.
  • The S&P 500 pulled back 0.8% to 2,670.14,
  • The NASDAQ declined 1.3%to close at 7,146.13.

 

The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,

  • Friday traded at 16.88, up +5.76%
  • Thursday traded at 15.96, up +2.31%
  • Wednesday traded at 15.60, up +2.30%
  • Tuesday traded at 15.25, down -1.31%
  • Monday traded at 16.56, down -4.88%
  • Last Friday traded at 17.41, down -5.84%

 

The iShares Russell 2000 (IWM) indicated:

  • Friday was down -0.54%
  • Thursday -0.69%
  • Wednesday +0.23%
  • Tuesday was up +1.08%
  • Monday +0.92%
  • Last Friday -0.52%

 

The iShares NASDAQ Biotechnology (IBB) indication:

  • Friday was down -0.88%
  • Thursday -1.36%
  • Wednesday +0.07%
  • Tuesday was up +1.94%
  • Monday -0.68%
  • Last Friday was down -0.71%

 

The count - decliners versus gainers:

……. look at the differences in decliners:

  • Friday’s decliners ranged from -0.27% <FATE -$0.03 > to -13.89% <VTGN -$0.15 > in 22 equities;
  • Thursday’s decliners ranged from -0.18% <FATE -$0.02 > to -12.81% <NWBO -$0.026> in 28 equities;
  • Wednesday’s decliners ranged from -0.06% <CLLS -$0.02> to -10.96% <NWBO -$0.025 > in 24 equities;
  • Tuesday’s decliners ranged from -0.16% <MESO -$0.01 > to -12.60% < BLCM -$1.13> in 15 equities;
  • Monday’s decliners ranged from -0.11% <BLCM -$0.01> to -9.60% <SGMO -$1.90 > in 21 equities;
  • Last Friday’s decliners ranged from -0.48% <NWBO -$0.0011> to -8.63% <IMUC -$0.02 > in 18 equities;

Versus

… Look at the percentage’s (%) and spreads …

  • Friday’s gainers ranged from +0.28% <ONCE +$0.23> to +7.06% <NWBO +$0.0125> in 12 equities;
  • Thursday’s gainers ranged from +0.25% <VSTM +$0.01 > to +5.44% < OSIR +$0.40> in 9 equities;
  • Wednesday’s gainers ranged from +0.38% <BSTG (+$0.01 > to +14.01% <KOOL +$0.22 > in 14 equities;
  • Tuesday’s gainers ranged from +0.21% <CLBS +$0.01 > to +9.71% <ONVO +$0.10> in 24 equities;
  • Monday’s gainers ranged from +0.04% <NWBO +$0.00 > to +9.83% <RGNX +$3.40> in 14 equities;
  • Last Friday’s gainers ranged from +0.14% <QURE +$0.04> to +9.78% <AGTC +$0.45> in 17 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.