June 4, 2018 6:05pm

Monday opened down, stayed down though the morning hours to the mid-day and closed to the upside

As I had stated ... a session for profit-taking to build cash for the June swoon

 

Pre-open indications: 3 HIT and 2 MISS (1 good sell into strength)

Of the 45, the 18 downside equities expired in the usual bottom-weighted range of -$0.0 to -$3.65 while the 25 upside equities oscillated top heavy from +$0.01 to +$8.90

 

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 Tuesday’s market. Let the “numbers” speak since sentiment is capricious!


Henry’omics:

From the pre-open newsletter, “Bio’s international convention in Boston kicks-off. The American Society of Clinical Oncologists (ASCO) Chicago meeting hasn't frustrated so far … Sunday, some heard about “Compelling Combinations: Raising the Bar with Immunotherapy.”

I also stated re Monday’s moves:  “Despite ASCO’s upbeat mood and BIO’s Seaport’s freneticism, it just might be time for some profit-taking!”

Sector equities posted gains on Monday, in a late day rally as traders appeared to accepts ASCO positives and some negatives tensions which seemed to be focused to focus on a ”happy ending” than a sustainable reality!

I don’t believe it will last long ….

As I am here for the UPSIDE!

And R I S K is a four letter expletive!

 

What’s the old adage – lov’em and leav’em …?

$15 billion biotech stock loses more than 40% of its value after skin cancer drug study falls short; Nektar's Therapeutics (NKTR) market cap, which was over $15 billion by Friday's close, fell to $9 billion by Monday's close. The 41.8% drop in stock price was NKTR's worst one-day fall ever.

The fall came after data released Saturday suggested patients diagnosed with melanoma aren't reacting to NKTR's experimental treatment as well as earlier samples did. <CNBC> Bristol-Myers Squibb (BMY), NKTR’s partner on the skin cancer treatment, fell more than 3%.

 

The advance/decline line scenario of 45 covered companies:   

  • The open was negative with an A/DL of 21/23 and 1 flats;
  • The mid-day stayed negative with an A/DL of 16/29 and 0 flat;
  • The close swung positive with an A/DL of 25/18 and 2 flats;

 

Pre-open indications: 3 HIT and 2 MISS

  • Bellicum Pharmaceuticals (BLCM) closed down -$0.31- miss;
  • bluebird bio (BLUE) closed up +$8.90 – miss;
  • Neuralstem (CUR) closed up +$0.01 – hit;
  • Pluristem (PSTI) closed up +$0.06 – hit;
  • Vericel (VCEL) closed down -1.40 – hit;

 

Last six (6) sessions:

  • Monday closed POSITIVE  with 18 decliners, 25 advancers and 2 flat;
  • Friday (June 1) closed was POSITIVE with 15 decliners, 29 advancers and 1 flat;
  • Thursday (May 310 closed was POSITIVE with 12 decliners, 31 advancers and 2 flats;
  • Wednesday closed was POSITIVE with 12 decliners, 31 advancers and 2 flats;
  • Tuesday closed NEGATIVE with 27 decliners, 15 advancers and 3 flat;
  • Last Monday was a holiday

 

MY working five (5) trend lines:

The greatest volume to the downside:  ONVO, VSTM, CRSP, SGMO and VCEL

Upside volume was weighted to:  PSTI, BLUE, ATHX, MDXG and XON

Biggest $ downside:  RGNX (-$3.65), VCEL (-$1.40), ADRO (-$1.30), CRSP (-$1.16), and ONCE (-$0.94)

Best moves to the $ upside: BLUE (+$8.90), SAGE (+$2.84), SLDB (+$1.08), VTGR (+$0.73) and XON (+$0.49)

… Flats:  ADVM and AST

 

Daily analytics:

Monday marked the first record closing high for the NASDAQ dating back to March 12, when it closed at 7,588.32. The index fell more than 10% after hitting that level before bouncing back.

  • The Dow closed 178.48 points higher or +0.72% at 24,813.69,
  • The S&P 500 climbed +12.25 points or +0.5%to 2,746.87,
  • The NASDAQ posted a record close up +52.13 points or +0.69% higher.

 

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

  • Monday traded at 12.74, down -5.35%
  • Friday traded at 13.46, down -12.77%
  • Thursday traded at 15.43, up +3.38%
  • Wednesday traded at 14.89, down -2.14%
  • Tuesday traded at16.98, up +28.44%
  • Last Monday was a holiday

 

The iShares Russell 2000 (IWM) closed:

  • Monday was up +0.53%; having indicating an UPSIDE of +0.51% in the pre-open
  • Friday was up +0.65%
  • Thursday was down -0.84%
  • Wednesday was up +1.57%
  • Tuesday was down -0.12%
  • Last Monday was a holiday

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Monday was down -0.65% having indicating an UPSIDE of +0.39% in the pre-open
  • Friday was up +1.28%
  • Thursday was down -0.06%
  • Wednesday was up +1.34%
  • Tuesday was down -0.45%
  • Last Monday was a holiday

 

The count in May - decliners versus gainers:

……. look at the differences in decliners:

  • Monday’s decliners ranged from -0.13% <OSIR -$0.01 > to -6.80% <RGNX -$3.65 > in 18 equities;
  • Friday’s decliners ranged from -0.09% <IONS -$0.04 > to -26.40% <ONVO -$0.52 > in 15 equities;
  • Thursday’s decliners ranged from -0.29% <BMRN -$0.26 > to -6.36% <CRSP -$4.68 > in 18 equities;
  • 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;
  • Last Monday was a holiday

Versus

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

  • Monday’s gainers ranged from +0.59% <CUR +$0.01 > to +8.90% <BLUE +$8.90 > in 25 equities;
  • Friday’s gainers ranged from +0.25% <CLBS +$0.01> to +9.09% <BSTG +$0.25 > in 29 equities;
  • Thursday’s gainers ranged from +0.15% <FIXX +$0.03 > to +67.39% < AXGN +$2.95> in 24 equities;
  • 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;
  • Last Monday was a holiday

                                              

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.