May 30, 2018 6:05pm

The oversold rebound “happened” from Tuesday’s decline

Volatility will always be a by-product of the sector which also depends on volume and risks are associated for some based on their cash positions

 

The downside of 12 equities weak in a range of -$0.02 to -$0.59 with a topper of -$3.40 with 31 upside equities ranging from +$0.01 to +$4.68)

Out and about: Vericel (VCEL) proposes 3.75 M share offering – SELL

Pre-open indications: 1 HIT

 

We keep you informed, if you want to be knowledgeable of the “bones” of the sector - be a subscriber to understand what you need to do in tomorrow’s market. Let the “numbers” speak since sentiment is capricious!


Henry’omics:

From the pre-open newsletter, “uncertainty abounds. So, what’s different than any other algorithmic “rule” session? A rebound, so that risk assets find their footing.”

The Russell 2000 (IWM) hit new intraday +1.58% high of 1.64.08 as small-cap stocks shrugged off the political turbulence. Considering that “our” universe’s small-cap (equities) traditionally rose more than 8% in price after the conclusion of a pullback, history suggests the S&P 600 possibly has another 5% to go before slipping into another decline of 5% or more.

… And is down -0.13 or -0.08% in the aftermarket

As I had stated, “Wednesday’s moves:  Wait, the downside has shown its “butt”; will there be a response from the oversold?”

Tighten your belt as the overbought will see some downside as the month ends and June begins.

Sector equities have fundamentals on their side but, for how long?

Sentiment is as changeable as profit in your pocket jingles!

 

Falling into the downside: BLUE (again), BOLD, VYGR, FATE and CLBS

While the upside of: CRSP, RGNX (again), RARE (again), SAGE and EDIT

 

The advance/decline line scenario of 45 covered companies:   

  • The open was positive with an A/DL of 37/4 and 4 flats;
  • The mid-day stayed positive with an A/DL of 31/11 and 3 flat;
  • The close was positive with an A/DL of 31/12 and 2 flats;

 

MY working five (5) trend lines:

The greatest volume to the downside:  MDXG, BLCM, BLUE, VCEL and BCLI

Upside volume was weighted to:  CRSP, SGMO, BMRN, VSTM and NTLA

Biggest $ downside:  BLUE (-$3.40), BOLD (-$0.590, VYGR (-$0.55), FATE (-$0.24) and CLBS (-$0.07)

Best moves to the $ upside:  CRSP (+$4.68), RGNX (+3.55), RARE (+$3.16), SAGE (+$2.72) and EDIT (+$2.28)

… Flats:  ATHX and BSTG

 

Out and about:

Vericel (VCEL) proposes 3.75 M share offering – SELL - https://www.regmedinvestors.com/articles/10315

 

Daily analytics:

U.S. stocks rebounded Wednesday as financial stocks rebounded from steep losses in the prior session and Italian credit fears eased.

  • The Dow rose 306.33 points or +1.26% to close at 24,667.78.
  • The S&P 500 added 34.15 points or +1.27% to close at 2,724.01.
  • The NASDAQ rose 65.86 points or nearly 0.89% to close at 7462.45

 

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

  • Wednesday traded at 14.89, down -2.14%
  • Tuesday traded at16.98, up +28.44%
  • Monday was a holiday
  • Friday traded at 13.22, up +5.51%
  • Thursday traded at 12.62, up +0.32%
  • Last Wednesday traded at 12.68, down -4.46%

 

The iShares Russell 2000 (IWM) indicated:

  • Wednesday was up +1.57%
  • Tuesday was down -0.12%
  • Monday was a holiday
  • Friday closed down -0.15 %
  • Thursday closed up +0.05 %
  • Last Wednesday closed up +0.15 %

 

The iShares NASDAQ Biotechnology (IBB) indication:

  • Wednesday was up +1.34%
  • Tuesday was down -0.45%
  • Monday was a holiday
  • Friday closed up +0.22%
  • Thursday closed up +0.08%
  • Last Wednesday closed up +0.50%

 

The count in May - decliners versus gainers:

……. look at the differences in decliners:

  • Wednesday’s decliners ranged from -0.24% <MDXG -$0.02 > to -3.13% <AST -$0.05> in 12 equities;
  • Tuesday’s decliners ranged from -0.22% < AXGN -$0.10> to -4.56% <BSTG -$0.13> in 27 equities;
  • Monday was a holiday
  • Friday’s decliners ranged from -0.21% <GBT -$0.10> to -6.11% <VSTM -$0.35 > in 21 equities;
  • Thursday’s decliners ranged from – 0.20% <BMRN-$0.18 > to -15.09% <AGTC -$0.80 > in 16 equities;
  • Last Wednesday’s decliners ranged from – 0.16% <MESO -$0.01 > to -5.16% <SAGE -$8.49 > in 16 equities;

Versus

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

  • Wednesday’s gainers ranged from +0.07% <BMRN +$0.06 > to +7.03% <RGNX +$3.55 > in 31 equities;
  • Tuesday’s gainers ranged from +0.08% <ALNY +$0.08 > to +7.49% <SLDB +$1.42 > in 15 equities;
  • Monday was a holiday
  • Friday’s gainers ranged from +0.06% <FIXX +$0.06 > to +5.53% <BCLI +$0-.24 > in 18 equities;
  • Thursday’s gainers ranged from +0.11% <CRSP +$0.08 > to +7.5% <VSTM +$0.40 > in 23 equities;
  • Last Wednesday’s gainers ranged from +0.19% < VSTM +$0.01> to +11.71% <MDXG +$0.90 > in 28 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.