July 13, 2018 6:22pm

The sector put itself back together after spending the day oversold

 

Pre-open indications: 2 HIT and 4 MISS (2 by pennies)

 

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Henry’omics:

 

While trading was a primary focus in the day but, over the coming sessions, will investors be diverted by Q2 earnings season? Though it is too soon to tell how the sector did over the last quarter, the early reads could be deserved – I am NOT ‘feelin’ positive!

From the pre-open newsletter titled, “extend some gains or seek salvation in selling as the sector churns and maybe burns. I say, stay in your lane on some equities!”

I also stated, “I DON'T have much to say ... in one word – CAUTION; as range bound trading lingers; low volume does NOT define sentiment which always hinges on which direction <down or upside> will flip. The issue of the day and coming weekend, concerns about a potential broadening trade war between the U.S. and major economies keep investors on edge.”

 

Many say Friday’s rally was partially driven by signs that Washington and Beijing are willing to resume trade talks, which investors hope could end in a bilateral agreement and avoid a trade war. The sector responded to the oversold!

Of the 45 companies covered on Friday; 17 downside equities finished in a range of -$0.01 (ONVO) to -$4.30 (ONCE) while the 25 upside equities oscillated from +$0.01 (BTX) to $2.60 (RGNX) with 3 flat closes.

 

MY working trend (5 largest) lines:

… The greatest volume to the downside:  VCEL, SGMO, RENE.L, GBT and ONVO

… Upside volume was weighted to:  MDXG, VSTM, BMRN, BLFS and XON

… Biggest $ downside:  ONCE (-$4.30), RENE.L (-$1.50), VCEL (-$1.05), ALNY (-$0.58) and GBT (-$0.50)

... Best moves to the $ upside: RGNX (+$2.60), QURE (+$1.46), SLDB (+$1.36), BLFS (+$0.79) and CLBS (+$0.72)

… Flats:  BSTG, AST and ADRO

 

The weekly count - decliners versus gainers – looks at the view from different angles:

……. look at the differences in decliners:

  • Friday’s decliners ranged from -0.39% <BOLD -$0.15 > to -10.34% <VCEL -$1.05 > in 17 equities;
  • Thursday’s decliners ranged from -2.17% <ONVO -$0.03 > to -7.94% <RGNX -$6.45 > in 19 equities;
  • 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;
  • Last Friday’s decliners ranged from -0.05% <BOLD -$0.02 > to -10.9% < MDXG -$0.41> in 8 equities;

Versus

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

  • Friday’s gainers ranged from +0.07% < CLLS +$0.02> to +13.19% <CLBS +$0.72 > in 25 equities;
  • Thursday’s gainers ranged from +0.25% < BSTG +$0.01> to +3.20% <BMRN +$3.30> in 24 equities;
  • 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;
  • Last Friday’s gainers ranged from +0.31% <CLLS +$0.09 > to +8.5% < SLDB +$3.31> in 35 equities;

 

Daily analytics and metrics:

  • The Dow rose 94.52 points or +0.38% to 25,019.41. The Dow also closed above 25,000 for the first time since June 15.
  • The S&P 500 closed up +3.02 points or +0.11% while posting its best closing level since early February as shares from some of the largest tech companies hit record highs.
  • The NASDAQ eked out a small gain +2.06 points or +0.03% to close at 7,825.98, a record.

 

The advance/decline line scenario of 45 covered companies:   

  • The open was negative with an A/DL of 15/28 and 2 flats;
  • The mid-day was negative with an A/DL of 16/27 and 2 flats;
  • The close was positive with an A/DL of 25/17 and 3 flats;

 

Pre-open indications: 2 hit and 4 miss

  • BioLife Solutions (BLFS) closed up +$0.79 – miss;
  • bluebird bio (BLUE) closed up  +$0.30 – miss;
  •  CRISPR Therapeutics (CRSP) closed up +$0.05 – miss;
  • Homology Medicine (FIXX) closed up +$0.02 – miss;
  • Intellia (NTLA) closed up +$0.13 – hit;
  • Sage Therapeutics (SAGE) closed up +$0.32 – hit;

 

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

  • Friday traded at 12.18, down -3.18%
  • Thursday traded at 12.59, down -7.63 %
  • Wednesday traded at 13.63, up +7.83%
  • Tuesday traded at 12.64, down -0.39%
  • Monday traded at 12.69, down -5.09%
  • Last Friday traded at 13.37, down -10.69%

 

The iShares Russell 2000 (IWM) closed:

  • Friday was down -0.26%;
  • Thursday was up +0.47%;
  • Wednesday was down -0.82%;
  • Tuesday was down -0.48%;
  • Monday was up +0.64%;
  • Last Friday was up +0.85%;

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Friday was up +0.17%
  • Thursday was up +1.17%
  • Wednesday was down -0.29%
  • Tuesday was down -0.17%
  • Monday was up +0.52%
  • Last Friday was up +3.78%

 

JULY sessions:

  • Friday closed POSITIVE with 17 decliners, 25 advancers and 3 flat;
  • Thursday closed POSITIVE with 19 decliners, 24 advancers and 2 flat;
  • 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;
  • Wednesday (7/4) was a holiday;
  • Tuesday closed POSITIVE with 9 decliners, 33 advancers and 3 flat;
  • Monday (7/2) closed POSITIVE with 15 decliners, 27 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.