June 28, 2018 7:22pm

As I had stated, “there is an opportunity for some oversold to improve”, the advance/decline line (A/DL) moved actively from yesterday’s carnage

 

Pre-open indications: 4 HITs and 4 MISS

Of the 45 companies covered; 26 downside equities finished in a range of -$0.02 to -$1.46 while the 16 upside equities oscillated from +$0.24 to $4.61 with 3 flat close.

 

It’s a duty and an honor to be a “canary in a coal mine”!  I communicate “indication intelligence” devoting my time to collection and analysis of information to assist investors in the perception of sector vulnerabilities and strengths.

RMi is the source investors and traders need – it’s more than opinion, the facts and truth need to be recognized!

Henry’omics:

 

From the pre-open newsletter … “waiting for (a signal) Godot. There are cracks in the sector yet, there is an opportunity for some oversold to improve. Tuning my GPS, it’s time to take-off from the market; travel to an early holiday and meet-up with distilled spirits.”

I also stated, “I predict low volume and some of the oversold to feel levitation!”

Volume was low but, HIGHER in downside moves as compared to 3 month averages!

  • Sector equities have been under pressure this week, as trade tensions affect the markets – while, the quarter ends and the sector rebalances and prepares for the summer months.

In my universe of 45 companies, I have seen, in the month of June (so far): 11 positive, 8 negative and 1 neutral closes.

 

Issue, the volatility “issues” of the sector are driving investors (not traders, funds or institutions) away from ... near and long-term investing!

 

Daily analytics and metrics:

  • The Dow rebounded 98.46 points to finish at 24,216.05 after briefly falling 100 points earlier in the session.
  • The S&P 500 closed 0.62% higher at 2,716.31.
  • The NASDAQ finished up 0.79% or +58.6 points at 7,503.68.

 

The advance/decline line scenario of 45 covered companies:   

  • The open was negative with an A/DL of 9/33 and 3 flats;
  • The mid-day stayed negative with an A/DL of 8/34 and 3 flats;
  • The close was negative with an A/DL of 16/26 and 3 flat;

 

Pre-open indications: 4 HITs and 4 MISS

  • Intrexon (XON) closed up +$0.11 – miss;
  • Global Blood Therapeutics (GBT) closed up +$2.70 – hit;
  • bluebird bio (BLUE) closed up +$1.25 – hit;
  • Sangamo Therapeutics (SGMO) closed down -$0.10 – miss;
  • Intellia Therapeutics (NTLA) closed up +$0.26 – miss;
  • CRISPR Therapeutics (CRSP) closed down -$1.29 – hit;
  • Editas Medicine (EDIT) closed up +0.17 – miss;
  • uniQure N.V. (QURE) closed up +$4.61 – hit;

 

MY working trend (5 largest) lines:

… The greatest volume to the downside:  SGMO, VSTM, CRSP, BMRN and VYGR

… Upside volume was weighted to:  GBT, MDXG, XON, QURE and BLUE

… Biggest $ downside:  RGNX (-$1.95), SLDB (-$1.69), VTGR (-$1.46), CRSP (-$1.29) and BOLD (-$1.29)

… Best moves to the $ upside: QURE (+$4.61), GBT (+$2.70), AXGN (+$2.10), BLUE (+$1.25) and ALNY (+$1.10)

… Flats:  RENE.L, BTX and VCEL

 

The weekly count - decliners versus gainers:

……. look at the differences in decliners:

  • Thursday’s decliners ranged from -0.05% <IONS -$0.02 > to -6.71% <VYGR -$1.46 > in 26 equities;
  • Wednesday’s decliners ranged from -0.75% <BCLI -$0.03 > to -12.5% <BSTG -$0.60> in 42 equities;
  • Tuesday’s decliners ranged from -0.21% <BSTG -$0.01 > to -11.40% <SLDB -$4.92) in 20 equities;
  • Monday’s decliners ranged from -0.83% <ADVM -$0.05 > to -8.1% <FATE -$1.04) in 31 equities;
  • Friday’s decliners ranged from -0.64% <SLDB -$0.27> to -10.34% <CUR -$0.12> in 19 equities;
  • Last Thursday’s decliners ranged from -0.18% <CRSP -$0.12 > to -17.25% < CLBS -$1.49> in 36 equities;

Versus

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

  • Thursday’s gainers ranged from +0.24% <SAGE +$0.24 > to +13.58% <QURE +$4.61 > in 16 equities;
  • Wednesday’s gainers ranged from +0.51% <FIXX +$0.10 > to +15.63% <GBT +$6.05> in 2 equities;
  • Tuesday’s gainers ranged from +0.11% <EDIT +$04 > to +0.32% <CLBS +0.53 > in 22 equities;
  • Friday’s gainers ranged from +0.46% <VCEL +$0.05 > to +9.46% <BLFS +$1.09> in 24 equities;
  • Last Thursday’s gainers ranged from +0.09% <BMRN +$0.09 > to +18.7% <SLDB +$6.67 > in 9 equities;

 

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

  • Thursday traded at 16.85, down -5.92%
  • Wednesday traded at 17.91, up +12.50%
  • Tuesday traded at 16.16, down -6.75%
  • Monday traded at 17.33, up +3.56%
  • Friday traded at 13.77, down -5.94%
  • Last Thursday traded at 14.66, up +14.62%

 

The iShares Russell 2000 (IWM) closed:

  • Thursday was up +0.28%;
  • Wednesday was down -1.54%;
  • Tuesday was up +0.61%;
  • Monday was down -1.61%;
  • Friday was down -0.36%;
  • Last Thursday was down -0.96%;

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Thursday was up +0.57%
  • Wednesday was down -2.04%
  • Tuesday was down -0.43%
  • Monday was down -1.81%
  • Friday was down -0.34%
  • Last Thursday was down -1.13 %

 

June sessions:

Thursday closed NEGATIVE with 26 decliners, 16 advancers and 3 flats;

Wednesday closed NEGATIVE with 42 decliners, 2 advancers and 1 flat;

Tuesday closed POSITIVE with 20 decliners, 22 advancers and 3 flat;

Monday (6/25) closed NEGATIVE with 31 decliners, 10 advancers and 4 flat;

Friday closed POSITIVE with 19 decliners, 24 advancers and 2 flat;

Thursday closed NEGATIVE with 36 decliners, 9 advancers and 0 flat;

Wednesday closed POSITIVE with 11 decliners, 31 advancers and 3 flats;

Tuesday closed NEGATIVE with 19 decliners, 24 advancers and 2 flat;

Monday (June 18) closed NEGATIVE with 22 decliners, 21 advancers and 2 flat;

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;

 

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.