July 30, 2018 5:57pm
Trading set the pace of the downside with low volume
The IBB was down -1.11% while the NASDAQ notched a three-day drop of 3.86%
The month is coming to an end with the risks associated with buying elevated
Pre-open indications: 1 miss and 3 trades (2 dive - EDIT and NTLA) and 1 CRSP was barely up
Consider the end-of-day results as a next day primer!
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Henry’omics:
With on trading sessions left in July, the S&P is up 3.2% for the month to date, representing its largest such rise since January, while the Dow +4.5%) and NASDAQ (+1.7%) are higher.
Of the 45 companies covered on Monday; 30 downside equities finished in a range of -$0.01 (BSTG) to -$7.70 (ALNY) while the 12 upside equities oscillated from +$0.05 (AST) to $0.41 (CLLS) with 3 flat closes.
From the pre-open newsletter: “after a sector beat-down, I am still hoping for some of the oversold to up-value even though Q2 results will be coming “fast and furious” with 12 releases by 8/9.”
Trading set the pace of the downside with low volume with a few exceptions: to the upside = BTX, MESO, CLLS and BLCM to the downside = ALNY, AXGN, BLUE, EDIT, GBT, ONVO, QURE, SAGE and ONCE.
Look who else is getting hammered: BLFS (-$1.86) after all the upside, Icarus’” wings melted, BLUE as offering participant’s “flipped” as NTLA and EDIT … DIVE yet again with NO response from the companies.
What’s with CLBS down $5.05 (-$0.05) having started July at $6.43 – management’s VISION and expense of a “polo field” office – just two of many.
The advance/decline line scenario of 45 covered companies:
- The open was negative with an A/DL of 13/29 and 3 flats;
- The mid-day was negative with an A/DL of 14/27 and 4 flats;
- The close was negative with an A/DL of 12/30 and 3 flat;
Pre-open to close indications: 1 miss and 3 trades (2 down and 1 barely up)
- CRISPR Therapeutics (CSP) closed up +$0.14 – miss;
- Editas Medicine (EDIT) closed down -$0.29 – hit;
- Intellia Therapeutics (NTLA) closed down -$0.59 – hit;
- Fate Therapeutics (FATE) closed down -$0.25 – miss;
MY working trend (5 largest) lines:
… The greatest volume to the downside: SGMO, VSTM, ONVO, AXGN and ALNY
… Upside volume was weighted to: MDXG, BTX, XON, CRSP and BLCM
… Leadership to the downside: ALNY (-$7.70), BLUE (-$7.25), SAGE (-$5.53), AXGN (-$3.95) and BLFS (-$1.86)
… Best moves to the upside: CLLS (+$0.41), OSIR (+$0.29), SLDB (+$0.24), XON (+$0.22) and MESO (+$0.20)
… Flats: KOOL, VCEL and RENE.L
The weekly count - decliners versus gainers – looks at the percentage (%) view from a different angle:
……. look at the differences in decliners:
- Monday’s decliners ranged from -0.28% <BSTG -$0.01 > to -7.37% <ALNY -$7.70 > in 30 equities;
- Friday’s decliners ranged from -0.79% <PSTI -$0.01 > to -13.54% <MDXG -$0.65 > in 38 equities;
- Thursday’s decliners ranged from -0.11% <FATE -$0.01 > to -6.87% < HSGX -$0.16 > in 28 equities;
- Wednesday’s decliners ranged from -0.06% < ONCE -$0.05> to -13.51% <BSTG -$0.52 > in 16 equities;
- Tuesday’s decliners ranged from -0.22% <KOOL -$0.009 > to -10.44% <FATE -$1.14 > in 40 equities;
- Last Monday’s decliners ranged from -0.21% <SAGE -$0.36 > to -6.82% <SLDB -$2.94 > in 25 equities;
Versus
… Look at the percentage’s (%) and spreads …
- Monday’s gainers ranged from +0.30% <CRSP +$0.14> to +7.21% <CUR +$0.08> in 12 equities;
- Friday’s gainers ranged from +0.10% <OSIR <+$0.01 > to +4.35% <BSTG +0.15 > in 5 equities;
- Thursday’s gainers ranged from +0.10% <BMRN +$0.10 > to +10.85% <MDXG +$0.47> in 14 equities;
- Wednesday’s gainers ranged from +0.23% <BCLI +$0.01 > to +9.62% <MDXG +$0.38 > in 24 equities;
- Tuesday’s gainers ranged from +1.71% <IONS +$0.76 > to +4.40% < BCLI +$0.18> in 4 equities;
- Last Monday's gainers ranged from +0.46% <FATE +$0.05) to +18.8% <CUR +$0.22> in 18 equities;
Daily analytics and metrics:
- The NASDAQ dropped -107.42 points or -1.39% to 7,630.
- The S&P 500 declined 0.58% to 2,802.60
- The Dow fell 144.23 points or -0.57% to close at 25,306.83
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market:
- Monday traded at 14.26, up +9.44%
- Friday traded at 13.03, up +7.33%
- Thursday traded at 12.14, down – 1.22%
- Wednesday traded at 12.29, down -0.12%
- Tuesday traded at 12.41, down -1.66%
- Last Monday traded at 12.62, down -1.87%
The iShares Russell 2000 (IWM) closed:
- Monday was down -0.65 %;
- Friday was down -1.85%;
- Thursday was up +0.51%;
- Wednesday was up +0.37%;
- Tuesday was down -1.06%;
- Last Monday was up +0.12%;
The iShares NASDAQ Biotechnology (IBB) closed:
- Monday was down -1.11%
- Friday was down -2.07%
- Thursday was down -1.24%
- Wednesday was up +1.11%
- Tuesday was down -0.14%
- Last Monday was down -0.06 %
JULY sessions:
Monday (7/30) closed NEGATIVE with 30 decliners, 12 advancers and 3 flat;
Friday closed NEGATIVE with 38 decliners, 5 advancers and 2 flat;
Thursday closed NEGATIVE with 26 decliners, 14 advancers and 5 flat;
Wednesday closed POSITIVE with 16 decliners, 24 advancers and 5 flat;
Tuesday closed NEGATIVE with 40 decliners, 4 advancers and 1 flat;
Monday (7/23) closed NEGATIVE with 25 decliners, 18 advancers and 2 flats;
Last Friday closed NEGATIVE with 24 decliners, 15 advancers and 5 flats;
Thursday closed POSITIVE with 14 decliners, 28 advancers and 2 flats;
Wednesday closed NEGATIVE with 30 decliners, 13 advancers and 2 flat;
Tuesday closed POSITIVE with 13 decliners, 29 advancers and 3 flat;
Monday (7/16) closed NEGATIVE with 32 decliners, 10 advancers and 3 flat;
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.
