July 11, 2018 9:18pm
Day two at the Oppenheimer Boston Oncology Insight Conference; where I walked away with a more solid understanding of what’s potentially curative!
It’s a question of sorting-out the useful from pointless data in an investment decision in this market!
Pre-open indications: 1 HIT and 3 MISS (one by pennies)
I personally believe that a reputational measure needs to be introduced versus the “spins” practiced by more than some companies
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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:
Another bounce-back from an oversold condition … even as the IBB was DOWN! – Just a game of pick-up-sticks; they will be thrown again!
From the pre-open newsletter titled, “the decline of the (overbought) empire. Investors need to wake-up to the risk of peak pricing cycles. “And the list goes-on” - wasn’t that a song of exasperation or just another etcetera!”
I also stated, “Is “our universe overbought, getting “lofty” and might soon fear the SELL button?
Stocks closed sharply lower on Wednesday as a trade war between the U.S. and other major economies intensified, with the Trump administration unveiling new tariffs on Chinese goods.
Of the 45 companies covered on Wednesday; 18 downside equities finished in a range of -$0.03 (PSTI) to -$1.70 (FIXX) while the 24 upside equities oscillated from +$0.01 (ATHX) to $18.00 (RENE.L) with 3 flat closes.
MY working trend (5 largest) lines:
… The greatest volume to the downside: SGMO, GBT, XON, VCEL and ONCE
… Upside volume was weighted to: MDXG, VSTM, BMRN, CRSP and AST
… Biggest $ downside: FIXX (-$1.70), RGNX (-$0.95), AXGN (-$0.53), CLLS (-$0.47) and BOLD (-$0.47)
… Best moves to the $ upside: RENE.L (+$18.00), CRSP (+$1.98), SAGE (+$1.41), SLDB (+$1.16) and ALNY (+$1.15)
… Flats: ADVM, KOOL and AGTC
The weekly count - decliners versus gainers – looks at the view from different angles:
……. look at the differences in decliners:
- Wednesday’s decliners ranged from -0.08% <QURE -$0.03 > to -7.56% <FIXX -$1.70 > in 18 equities;
- 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;
- Last Wednesday was a holiday
Versus
… Look at the percentage’s (%) and spreads …
- Wednesday’s gainers ranged from +0.08% <EDIT +$0.03> to +22.22% < RENE.L +$18.00> in 24 equities;
- 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;
- Last Wednesday was a holiday
Daily analytics and metrics:
- The Dow fell 219.21 points to 24,700.45.
- The S&P 500 dropped 0.7% to 2,774.02.
- The NASDAQ declined 0.6% to close at 7,716.61.
The advance/decline line scenario of 45 covered companies:
- The close was positive with an A/DL of 24/18 and 3 flats;
Pre-open indications: 1 hit and 3 miss
- Asterias Biosciences INYSEMKT: AST) closed up +$0.05 – hit;
- CRISPR Therapeutics (CRSP) closed up +$1.98 – miss;
- Editas Medicine (EDIT) closed up +$0.03 – miss;
- Spark Therapeutics (ONCE) closed down -$0.17 – miss;
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,
- Wednesday traded at 13.63, up +7.83%
- 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%
- Last Wednesday was a holiday;
The iShares Russell 2000 (IWM) closed:
- Wednesday was down -0.82%;
- Tuesday was down -0.48%;
- Monday was up +0.64%;
- Friday was up +0.85%;
- Thursday was up +1.15%;
- Last Wednesday was a holiday;
The iShares NASDAQ Biotechnology (IBB) closed:
- Wednesday was down -0.29%
- Tuesday was down -0.17%
- Monday was up +0.52%
- Friday was up +3.78%
- Thursday was up +1.26%
- Last Wednesday was a holiday;
JULY sessions:
Wednesday closed POSITIVE with 18 decliners, 24 advancers and 3 flat;
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;
Last Wednesday 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.
