July 10, 2018 10:02pm
It was a race but, the baton got dropped after four (4) positive closes and a holiday in between ...
It was coming; I’ve been raising the alarm, about a false sense of confidence without getting too wonky – algorithms ruled
Pre-open indications: 3 HIT and 1 MISS
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It’s an honor to be considered the “canary in the (sectors) 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 – it’s more than opinion, the facts and truth need to be recognized!
Henry’omics:
From the pre-open newsletter titled, “I want some share pricing marathoners not 500 yard dash specialists and would settle for a 2 K crawler. Sector rallies are not near or long-term phenomenal. ”
What's to say ... the sector lost the race while ...
The Russell 2000, which is made up of small-cap stocks, reached an all-time high before closing 0.5% lower at 1,695.62.
I also stated, “our universe overbought, getting “lofty” and might soon fear the SELL button?
Of the 45 companies covered on Tuesday; 29 downside equities finished in a range of -$0.01 (MESO) to -$4.27 (ONCE) while the 15 upside equities oscillated from +$0.007 (KOOL) to $4.50 (BLUE) with 1 flat close.
MY working trend (5 largest) lines:
… The greatest volume to the downside: MDXG, GBT, SGMO, BMRN and VCEL
… Upside volume was weighted to: VSTM, XON, BLUE, RGNX and ONVO
… Biggest $ downside: ONCE (-$4.27), GBT (-$2.85), SLDB (-$1.37), AXGN (-$1.33) and CRSP (-$1.00)
… Best moves to the $ upside: BLUE (+$4.50), SAGE (+$3.40), ALNY (+$1.95), RGNX (+$0.60) and VSTM (+$0.57)
… Flats: RENE.L
The count - decliners versus gainers – looks at the view from different angles:
……. look at the differences in decliners:
- Tuesday’s decliners ranged from -0.11% <VYGR -$0.02 > to -17.44% <BSTG -$0.75 > in 29 equities;
- Monday’s decliners ranged from -0.30% <MDXG -$0.01 > to -6.35% >VTGR -$1.25> in 18 equities;
- Friday’s decliners ranged from -0.05% <BOLD -$0.02 > to -10.9% < MDXG -$0.41> in 8 equities;
- Thursday’s decliners ranged from -0.18% <BLFS -$0.03 > to -5.51% < MDXG -$0.22> in x equities;
- Wednesday was a holiday
- Last Tuesday’s decliners ranged from -0.14% <RARE -$0.11 > to -5.97% <BSTG -$0.27 > in 9 equities;
Versus
… Look at the percentage’s (%) and spreads …
- Tuesday’s gainers ranged from +0.16% <KOOL -$0.007 > to +7.88% < VSTM +0.57> in 15 equities;
- Monday’s gainers ranged from +0.23% <MESO +$0.01 > to +1.79% <BLUE +$3.05 > in 22 equities;
- Friday’s gainers ranged from +0.31% <CLLS +$0.09 > to +8.5% < SLDB +$3.31> in 35 equities;
- Thursday’s gainers ranged from +0.03% <EDIT +$0.01> to +9.46% < KOOL +$0.0038> in 23 equities;
- Wednesday was a holiday
- Last Tuesday’s gainers ranged from +0.55% < ALNY +$0.54> to +11.41% <BLFS +$1.71 > in 33 equities;
Daily analytics and metrics:
- The Dow rose 143.07 points to 24,919.66
- The S&P 500 gained 0.4% to 2,793.84 — its highest since Feb. 1
- The NASDAQ closed just above breakeven at 7,759.20.
The advance/decline line scenario of 45 covered companies:
- The open was positive with an A/DL of 26/14 and 4 flats;
- The close was negative with an A/DL of 15/29 and 1 flat;
Pre-open indications: 3 hit and 1 miss
- bluebird bio (BLUE) closed up +$4.50 – miss;
- CRISPR Therapeutics (CRSP) closed down -$1.00 – hit;
- Intellia (NTLA) closed down -$0.85 – hit;
- Editas Medicine (EDIT) closed down -$0.42 – hit;
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,
- Tuesday traded at 12.64, down -0.39%
- Monday traded at 12.69, down -5.09%
- Friday traded at 13.37, down -10.69%
- Thursday traded at 15.15, down -6.13%
- Wednesday was a holiday;
- Last Tuesday traded at 16.14, up +3.46%
The iShares Russell 2000 (IWM) closed:
- Tuesday was down -0.48%;
- Monday was up +0.64%;
- Friday was up +0.85%;
- Thursday was up +1.15%;
- Wednesday was a holiday;
- Last Tuesday was up +0.40%;
The iShares NASDAQ Biotechnology (IBB) closed:
- Tuesday was down -0.17%
- Monday was up +0.52%
- Friday was up +3.78%
- Thursday was up +1.26%
- Wednesday was a holiday;
- Last Tuesday was down -0.09%
JULY sessions:
Tuesday closed NEGATIVE with 29 decliners, 15 advancers and 1 flat;
Monday (7/9) closed POSITIVE with 18 decliners, 22 advancers and 5 flat;
Friday closed POSITIVE with 8 decliners, 35 advancers and 2 flat;
Thursday closed POSITIVE with 18 decliners, 23 advancers and 4 flat;
Wednesday was a holiday;
Last Tuesday closed POSITIVE with 9 decliners, 33 advancers and 3 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.
