April 24, 2018 5:31pm

Tuesday is the fifth (5th) losing session in a row

The NASDAQ tanked (-1.70%) along with the IBB (-1.45%) and the Russell 2000 (RUT-0.57%)

 

No bad (clinical) news is good news

 

Out and about: Sangamo Therapeutics (SGMO) proposes offering - SELL

 

End of day briefing; the “numbers” speak!


Henry’omics:

Today’s moves … the question, are we putting in a bottom?

 

The advance/decline line scenario of 40 covered companies:   

  • The open was negative an A/DL to 12/22 and 6 flat;
  • The mid-day continued negative with an A/DL of11/25 and 4 flats;
  • The close concluded negative with an A/DL of 9/25 and 6 flat;

 

From the pre-open’s newsletter, “… seeking some relief, so don’t start counting on a quick upside. Light trading volumes and thinning liquidity has hurt the sector.”

As I had stated, “Every time one thinks being long is fruitful, they get hammered by the short-term impulses.”

When you get this type of earnings performance in the macro markets; it tells you a lot is priced in and people are looking at margins and guidance.  Even the slightest hiccup or wrinkle is being highlighted in this type of environment."

Just think of what – the stem, cell, immune-oncology and regenerative therapy sector will do – as Q1 financial results i.e. LPS (loss-per-share) numbers come in-line or below expectation!

 

Out and about: SGMO closed down -$0.35 to $17.80 and is down -$1.30 or -7.33% in the aftermarket (so far) SGMO closed down -$0.35 to $17.80 and is down -$1.30 or -7.33% in the aftermarket (so far). SGMO has 86.34 M shares outstanding with a float of 84.76 M shares. BofA Merrill Lynch, J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering.

 

Feathering the sector: 25 negative equity closes ranged from $5.25 or -3.12% to $0.01 or -1.14% with 9 positive equities ranging from $0.001 or -0.35% to $0.18 or +2.33% and 6 flat closes.

 

Review the 17 sessions of April’s close (of 40 covered companies) there have been ten (10) negative and six (6) positive and one (1) neutral closes:

  • Tuesday closed NEGATIVE with 25 decliners, 9 advancers and 6 flats;
  • Monday closed NEGATIVE with 28 decliners, 7 advancers and 5 flat;
  • 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:  NWBO, SGMO, BLCM, XON and ATHX

Upside volume was weighted to:  MDXG, VSTM, IMUC, CYTX and STML

Biggest $ downside:  BLUE (-$5.25), ONCE (-$2.55), QURE (-$2.29), RGNX (-$1.05) and CLLS (-$0.43)

Best moves to the $ upside:  OSIR (+$0.18), STML (+$0.15), MDXG (+$0.03), VSTM (+$0.03) and ISCO (+$0.02)

… Flats:  FCSC, RENE.L, ONVO, AXGN, AST and VCEL

 

Daily analytics:

U.S. stocks closed sharply lower Tuesday. The selling pressure came after the 10-year Treasury yield briefly touched the psychologically important 3% level for the first time in four years, a move that comes as first-quarter earnings season was failing to excite investors, despite some strong results. While the earnings season remained in full swing, the tone was generally negative, with several bellwether stocks slumping despite posting numbers that were ahead of analyst forecasts.

  • The Dow slumped 424.56 points, or 1.7%, to 24,024.13.
  • The S&P 500 fell 35.73 points, or 1.3%, to 2,634.56.
  • The NASDAQ declined by 121.25 points, or 1.7%, to 7,007.35,

 

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

  • Tuesday traded at 18.02, up +10.28% …
  • Monday traded at 16.34, down -3.20%
  • Friday traded at 16.88, up +5.76%
  • Thursday traded at 15.96, up +2.31%
  • Wednesday traded at 15.60, up +2.30%
  • Last Tuesday traded at 15.25, down -1.31%

 

The iShares Russell 2000 (IWM) indicated:

  • Tuesday was down -0.56%
  • Monday -0.15%
  • Friday -0.54%
  • Thursday -0.69%
  • Wednesday +0.23%
  • Last Tuesday was up +1.08%

 

The iShares NASDAQ Biotechnology (IBB) indication:

  • Tuesday was down -1.45%
  • Monday -0.16%
  • Friday -0.88%
  • Thursday -1.36%
  • Wednesday +0.07%
  • Last Tuesday was up +1.94%

 

The count - decliners versus gainers:

……. look at the differences in decliners:

  • Tuesday’s decliners ranged from -0.09% <FATE -$0.91 > to -7.37% <QURE -$2.29 > in 25 equities;
  • Monday’s decliners ranged from -0.18% <FATE -$0.02 > to -6.05% <RGNX -$2.40 > in 28 equities;
  • 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;
  • Last Tuesday’s decliners ranged from -0.16% <MESO -$0.01 > to -12.60% < BLCM -$1.13> in 15 equities;

Versus

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

  • Tuesday’s gainers ranged from +0.35% <CYTX +$0.001> to +2.33% <OSIR +$0.18 > in 9 equities;
  • Monday’s gainers ranged from +0.33% <XON +$0.06 > to +3.47% <ATHX +$0.07 > in 7 equities;
  • 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;
  • Last Tuesday’s gainers ranged from +0.21% <CLBS +$0.01 > to +9.71% <ONVO +$0.10> in 24 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.