May 18, 2018 5:59pm

As the advance/decline line (A/DL) follows its lead as the sector closes barely negative

After a churning (trading) day of low volumes with NO swing oriented news

 

Pre-open indications: 5 HITs and 2 MISS (1 by pennies)

Out and about: MiMedx Group (MDXG) "dinged" by NASDAQ for late form 10-Q filing - expected

 

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Henry’omics:

Today’s moves …The sector "sloped" as the S&P 500 and NASDAQ fell -0.3% and the NASDAQ -0.4%, while the Dow closed just above the flat line. The major indexes also posted slight weekly losses.

From the pre-open newsletter, “… de-risk the upside in this capricious market, if there is solid appreciation on the table - takes it while it’s there - SELL into the week’s strength. Not a sector killjoy but, one who is here for the ROI. Investors need to “harvest” money from where its investment is working.”

The sector closed barely negative after riding the merry-go-round of pricing since the open – it just didn’t want to find a direction after traders saw some serious profit-taking moves!

  • What was driving the sector today – “spoiled” and taken-for-granted after the week and upside of the month having experienced quarterly results for many?

I believe this is a warning signal for next week - due to the fluctuation of today’s moves!

  • There is always a daily risk to pricing in the sector – but, NO real news has its detrimental effect!

The Russell 2000 index RUT, +0.08% of small-capitalization stocks rose 2.8 points, or 0.2%, to 1,628.12, a 3rd record close in a row. For the week, the index rose 1.3%.

 

Some sector “names” stocks kept the lights on: RENE.L (again), RARE, AXGN (after yesterday’s dip), ALNY and IONS

While losers hid in the open – BLUE (after yesterdays “up”), BOLD (after yesterdays “up”), EDIT, GBT and VYGR

 

Pre-open indications:

  • BioLife Solutions (BLFS) closed 0.15 – hit;
  • Cellectis SA (CLLS) closed down -$0.10 – miss;
  • CRISPR Therapeutics (CSPR) closed down -$0.72 – hit;
  • Editas Medicine (EDIT) closed down -$3.13 – hit;
  • Intellia Therapeutics (NTLA) closed down -$1.14 – hit;
  • uniQure (QURE) closed up +$0.48 – hit;
  • Voyager Therapeutics (VYGR) closed down -$1.57 – miss;

 

The advance/decline line scenario of 45 covered companies:   

  • The open was positive with an ADL of 27/15 and 3 flats;
  • The mid-day was positive with an A/DL of 24/19 and 2 flats;
  • The close was negative with an A/DL of 22/23 and 0 flat;

 

MY working five (5) trend lines:

The greatest volume to the downside:  CRSP, EDIT, SGMO, KOOL and BOLD

Upside volume was weighted to:  VSTM, ATHX, MDXG, IONS and ADVM

Biggest $ downside:  BLUE (-$5.60), BOLD (-$3.15), EDIT (-$3.13), BBT (-$2.00) and VYGR (-$1.52)

Best moves to the $ upside:  RENE.L (+$2.50), RARE (+$2.75), AXGN (+$1.50), ALNY (+$1.17) and IONS (+$0.81)

… Flats:  NONE

 

Out and about:

MiMedx Group (MDXG)

  • Received written notification, as expected, from the NASDAQ Stock Market that it continues to be in noncompliance with the NASDAQ Listing Rules since MDXG has not yet filed its Form 10-Q for the period ended March 31, 2018.
  • NASDAQ had previously notified MiMedx that it was not in compliance for the year ended 12/31/17.

The NASDAQ notice has NO immediate effect on the listing of the stock.

 

The month of May:

  • Friday closed barely NEGATIVE with 23 decliners, 22 advancers and 0 flat
  • Thursday closed POSITIVE with 20 decliners, 23 advancers and 2 flat
  • Wednesday closed POSITIVE with 15 decliners, 27 advancers and 3 flat
  • Tuesday closed NEGATIVE with 21 decliners, 20 advancers and 4 flat
  • Monday (May 14) closed POSITIVE with 10 decliners, 33 advancers and 2 flat;
  • Friday closed POSITIVE with 16 decliners, 29 advancers and 0 flat;
  • Thursday closed POSITIVE with 18 decliners, 26 advancers and 1 flat;
  • Wednesday closed POSITIVE with 12 decliners, 31 advancers and 2 flats;
  • Tuesday closed NEGATIVE with 28 decliners, 16 advancers and 1 flat;
  • Monday (May 7) closed POSITIVE with 15 decliners, 29 advancers and 1 flat;
  • Friday closed POSITIVE with 8 decliners, 34 advancers and 3 flat
  • Thursday closed NEGATIVE with 29 decliners, 11 advancers and 5 flats;
  • Wednesday closed POSITIVE with 15 decliners, 22 advancers and 8 flats;
  • Tuesday (May 1) closed POSITIVE with 15 decliners, 25 advancers and 5 flats;

 

Daily analytics:

U.S. stocks closed mostly lower on Friday.

  • The Dow closed nearly unchanged at 24,715.09, leaving it with a 0.5% weekly loss.
  • The S&P 500 index fell 7.15 points or 0.3% to 2,712.98 and ended the week 0.5% lower.
  • The NASDAQ declined 28.13 points, or 0.4% to 7,354.34 and fell 0.7% over the week.

 

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

  • Friday traded at 13.42, down -0.07%
  • Thursday traded at 13.40, down -0.15%
  • Wednesday traded at 13.42, down -8.27%
  • Tuesday traded at 14.50, up +12.14% …
  • Monday traded at 12.96, up +2.45% …
  • Last Friday traded at 12.86, down -2.80%

 

The iShares Russell 2000 (IWM) indicated:

  • Friday closed up +0.13%
  • Thursday +0.46%
  • Wednesday +1.04%
  • Tuesday +0.03%
  • Monday -0.59%
  • Last Friday +0.18%          

 

The iShares NASDAQ Biotechnology (IBB) indication:

  • Friday closed up +0.20%
  • Thursday was up +0.06%
  • Wednesday +0.89%
  • Tuesday -1.52%
  • Monday +1.03%
  • Last Friday closed up +2.75%

 

The count in May - decliners versus gainers:

……. look at the differences in decliners:

  • Friday’s decliners ranged from -0.13% <OSIR -$0.01 > to -8.24% <EDIT -$3.13 > in 23 equities;
  • Thursday’s decliners ranged from -0.14% <MDXG -$0.01> to -5.57% <SAGE -$9.77> in 20 equities;
  • Wednesday’s decliners ranged from -0.17% <CRSP -$0.10 > to -33.07% <KOOL -$0.27 > in 15 equities;
  • Tuesday’s decliners ranged from -0.70% <PSTI -$0.01 > to -29.01% <KOOL -$0.32 > in 21 equities;
  • Monday’s decliners ranged from -0.45% <BTX -$0.01> to -5.16% <OSIR -$0.40 > in 10 equities;
  • Last Friday’s decliners ranged from -0.24% <CLBS -$0.01> to -19.64% <XON -$3.66 > in 16 equities;

Versus

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

  • Friday’s gainers ranged from +0.13% <BCLI +$0.01 > to +5.68% <VSTM +$0.27 > in 22 equities;
  • Thursday’s gainers ranged from +0.05% <ALNY +$0.05 > to +21.91% < BOLD +$7.44> in 23 equities;
  • Wednesday’s gainers ranged from +0.26% <STML +$0.05 > to +7.59% <ATHX +$0.17 > in 27 equities;
  • Tuesday’s gainers ranged from +0.49% <BLCM +$0.04 > to +12.26% < ONVO +$0.19> in 20 equities;
  • Monday’s gainers ranged from +0.30% <RGNX +$0.15 > to +24.14% <BSTG +$0.70> in 33 equities;
  • Last Friday’s gainers ranged from +0.13% <SLDB +$0.03> to +16% < AST +$0.20> in 29 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.