RegMed Investors’ (RMi) closing bell: final trading day of the month and end to the quarter

June 29, 2018 5:51pm

As I had stated this a.m. – “a strengthened advance/decline line (A/DL) (Thursday) … should be the basis for the oversold to stage a mild comeback

Volume was low weighted to the downside …

Pre-open indications: 1 HIT

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 post about “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:

Sector equities rose on Friday, the last trading day of the first half of the year, but still posted weekly losses as market sentiment soured!

Today, investors can THANK algorithm’s “rules”!

From the pre-open newsletter … “let June and the quarter go quietly with the sector in the toilet, a holiday mid-week, low volume weighted to the downside; a development of almost any kind could be a miracle! The sole provision is what constitutes speculation; maybe a strengthening advance/decline line (A/DL) could or should be the basis for the oversold to stage a mild comeback.”

I also stated, “The sector will continue to be “pinched” with many a gain of the oversold!”

Of the 45 companies covered on Friday; 20 downside equities finished in a range of -$0.0049 (KOOL) to -$2.25 (GBT) while the 20 upside equities oscillated from +$0.01 to $4.68 with 1 flat close.

• In my universe of 45 companies in the month of June: 12 positive, 8 negative closes and 1 neutral close.

The first half of the year was fraught with volatility. The major indexes reached all-time highs in late January before concerns over rising interest rates knocked stocks off those levels <CNBC>.

• Despite the gains, stocks indexes closed lower for the week. The NASDAQ dropped 2.4% for the week, its worst weekly performance in three months, while the Dow and S&P 500 fell at 1.3% each. The Russell 2000, meanwhile, dropped more than 2%.

• For the month, the Dow slipped 0.6% while the S&P rose 0.5% and the NASDAQ gained 0.9%. For Q2, all three ended in the green, with the Dow up 0.7%, the S&P up 2.9%, and the NASDAQ climbing 6.3%.

• For the first half of the year, the Dow is down 1.8% and the S&P is up 1.7%. The NASDAQ is up 8.8%.

The KEY for Q3 will be news as the summer months will reduce “eyes” on the sector other than SPECULATION!

Research brief (very):

CRISPR Therapeutics (CRSP) has skyrocketed 150.4% year to date – an “Icarus” candidate, their share pricing “wax” will melt followed by a plummet! I’ve had a NEGATIVE bias for 10 days for gene editing stocks; Editas (EDIT) is down -$0.03 although Intellia (NTLA) is up +$0.34 WHATY’s going to keep them up …?

Daily analytics and metrics:

• The Dow rose 55.36 points to 24,271.41.
• The S&P 500 gained 0.1% and closed at 2,718.37.
• The NASDAQ advanced 0.1% to 7,510.30.

The advance/decline line scenario of 45 covered companies:   

• The open was positive with an A/DL of 29/14 and 2 flats;
• The mid-day stayed positive with an A/DL of 25/17 and 3 flats;
• The close was positive with an A/DL of 23/20 and 2 flat;

Pre-open indications: 1 HIT

• Global Blood Therapeutics (GBT) closed down -$2.25 – hit;

MY working trend (5 largest) lines:

… The greatest volume to the downside:  GBT, VSTM, VCEL, IONS and VYGR

… Upside volume was weighted to:  XON, SGMO, MDXG, BMRN and BLUE

… Biggest $ downside:  GBT (-$2.25), AXGN (-$1.15), VTGR (-$0.76), QURE (-$0.75) and RENE.L (-$0.50)

… Best moves to the $ upside: SAGE (+$4.68), BNRN (+$3.05), BLUE (+$1.85), ALNY (+$1.32) and BOLD (+$1.26)

… Flats:  BLFS and CLBS

The weekly count - decliners versus gainers:

……. look at the differences in decliners:

• Friday’s decliners ranged from -0.05% < CRSP -$0.03> to -10% <AST -$0.15 > in 20 equities;
• 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;
• Last Friday’s decliners ranged from -0.64% <SLDB -$0.27> to -10.34% <CUR -$0.12> in 19 equities;

Versus

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

• Friday’s gainers ranged from +0.16% <MDXG -$0.01 > to +4.26% <XON -$0.57 > in 23 equities;
• 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;
• Last Friday’s gainers ranged from +0.46% <VCEL +$0.05 > to +9.46% <BLFS +$1.09> in 24 equities;

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

• Friday traded at 15.95, down -5.34%
• 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%
• Last Friday traded at 13.77, down -5.94%

The iShares Russell 2000 (IWM) closed:

• Friday was down -0.09 %;
• Thursday was up +0.28%;
• Wednesday was down -1.54%;
• Tuesday was up +0.61%;
• Monday was down -1.61%;
• Last Friday was down -0.36%;

The iShares NASDAQ Biotechnology (IBB) closed:

• Friday was up +1.73%
• Thursday was up +0.57%
• Wednesday was down -2.04%
• Tuesday was down -0.43%
• Monday was down -1.81%
• Last Friday was down -0.34%

June sessions - it's over:

Friday closed POSITIVE with 20 decliners, 24 advancers and 1 flat;

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.