June 15, 2018 5:26pm

As the Dow, NASDAQ, S&P and IBB decline

Quadruple witching day covering had been a major driver of sector action!

 

Pre-open indications: 3 HIT and 1 MISS (BLUE experienced a big decline)

Out and about: Biostage (BSTG) drops -$0.16 after questions arise of their BOD resignations and new appointments, SAB oversight role, follow-on financings and platform. My OPINION – another Theranos?

 

Of the 45 covered, the 16 downside equities finished in a range of -$0.01 to -$0.78 with biggest bottoms of -$13.90 and $7.00 while the 23 upside equities oscillated from +$0.0094 to $1.81 with a topper of $7.62 and 6 flat closes

 

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Henry’omics:

From the pre-open newsletter … “Quadruple Witching Day. Volatility as stock index futures, stock index options, stock options, and single-stock futures expire. The depreciated pre-market came after U.S. indexes finished yesterday’s trading on a mixed note.”

The Dow and S&P 500 turned lower for the week with the day’s decline; the NASDAQ remained near the record it closed at on Thursday.

Quadruple witching day covering had been a major driver of sector action!

 

Today’s trading will escalate the overbought having a bigger target on their back.

 

Pre-open indications: 3 HIT and 1 MISS

  • Verastem Oncology (VSTM) closed up +$0.95 – hit;
  • bluebird bio (BLUE) closed down -13.90 – miss;
  • Global Blood Therapeutics (GBT) closed down -$7.00 – hit;
  • Regenxbio (RGNX) closed up +$1.00 – hit;

 

The advance/decline line scenario of 45 covered companies:   

  • The open was neutral with an A/DL of 21/21 and 3 flats;
  • The mid-day flipped positive with an A/DL of 23/19 and 3 flats;
  • The close was positive with an A/DL of 23/16 and 6 flats;

 

MY working five (5) trend lines:

… The greatest volume to the downside:  GBT, FATE, CRSP, BLUE and VCEL

… Upside volume was weighted to:  VSTM, BMRN, MDXG, RARE and NTLA

… Biggest $ downside:  BLUE (-$13.90), GBT (-$7.00), IONS (-$0.78), BOLD (-$0.70) and CLLS (-$0.66)

… Best moves to the $ upside: BMRN (+$7.62), SLDB (+$1.81), NTLA (+$1.36), RARE (+$1.16) and BLFS (+$1.00)

… Flats:  RENE.L, ONVO, ADVM, BCLI, SGMO and CLBS

 

June sessions:

  • Friday closed POSITIVE with 16 decliners, 23 advancers and 6 flat;
  • Thursday closed POSITIVE with 18 decliners, 26 advancers and 1 flat;
  • Wednesday closed POSITIVE with 20 decliners, 22 advancers and 3 flats;
  • Tuesday closed POSITIVE with 17 decliners, 27 advancers and 1 flat;
  • Monday (June 11) closed NEGATIVE with 26 decliners, 18 advancers and 1 flat;
  • Friday closed NEUTRAL with 22 decliners, 22 advancers and 1 flat;
  • Thursday closed NEGATIVE with 34 decliners, 9 advancers and 2 flat;
  • Wednesday closed POSITIVE with 17 decliners, 24 advancers and 4 flat;
  • Tuesday closed POSITIVE with 14 decliners, 30 advancers and 1 flat;
  • Monday (June 4) closed POSITIVE with 18 decliners, 25 advancers and 2 flat;
  • Friday (June 1) closed was POSITIVE with 15 decliners, 29 advancers and 1 flat;

 

Daily analytics:

  • The Dow closed -84.83 points or -0.34% lower to 25,090.48
  • The S&P 500 fell -3.07 points or - 0.1% lower to 2,779.42
  • The NASDAQ slipped -14.66 points or -0.1% to 7,746.38

 

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

  • Friday traded at 11.95, down -1.40%
  • Thursday traded at 12.12, down -6.34 %
  • Wednesday traded at 12.94, up +4.86%
  • Tuesday traded at 12.34, down -0.08%
  • Monday traded at 12.35, up +1.40%
  • Last Friday traded at 12.18, up 0.33 %

 

The iShares Russell 2000 (IWM) closed:

  • Friday was down -0.04%;
  • Thursday was up +0.54%;
  • Wednesday was down -0.36%;
  • Tuesday was up +0.44%;
  • Monday was up +0.17%;
  • Last Friday was up +0.30%;

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Friday was down -0.11%
  • Thursday was up +0.81%
  • Wednesday was down -0.38%
  • Tuesday was up +0.85%
  • Monday was down -0.12%
  • Last Friday was up +0.32 %

 

The count in June - decliners versus gainers:

……. look at the differences in decliners:

  • Friday’s decliners ranged from -0.32% < VYGR -$0.07> to -15.95% < CUR -$0.26> in 16 equities;
  • Thursday’s decliners ranged from -0.43% <ATHX -$0.01 > to -5.41% <VCEL -$0.70 > in 18 equities;
  • Wednesday’s decliners ranged from -0.03% < CLLS -$0.01> to -7.41% <MDXG -$0.44) > in 20 equities;
  • Tuesday’s decliners ranged from -0.18% <RGNX -$0.10> to -7.71% <KOOL -$0.042 > in 17 equities;
  • Monday’s decliners ranged from -0.19% <ALNY -$0.19> to -12.59% <CRSP -$8.58 > in 26 equities;
  • Last Friday’s decliners ranged from -0.19% <CLLS -$0.03 > to -6.35% <BSTG -$0.19> in 22 equities;

Versus

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

  • Friday’s gainers ranged from +0.06% <SAGE +$0.10 > to +17.03% < VSTM +$0.95> in 23 equities;
  • Thursday’s gainers ranged from +0.10% < BOLD +$0.04> to +8.45% <ADRO +$0.60 > in 26 equities;
  • Wednesday’s gainers ranged from +0.03% <BOLD +$0.01> to +12% <BSTG +$0.45 > in 22 equities;
  • Tuesday’s gainers ranged from +0.03% <BOLD +$0-.01> to +29.31% <BSTG +$0.85 > in 27 equities;
  • Monday’s gainers ranged from +0.41% <AXGN +$0.20> to +12.93% < BLCM +$1.09> in 18 equities;
  • Last Friday’s gainers ranged from +0.16% <QURE +$0.06 > to +10.28% <HSGX +$0.26> in 22 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.