September 4, 2018 6:11pm

As I had stated last week - lighten the load of overbought equities

The issue was, I was EARLY and for those investors who listened – they would have made money and NOT experienced some of today’s losses

 

Pre-open indications: 3 HITs and 0 MISS

Out and about: The Advance/decline Line closed at 19/22 and 4 flats after the open’s 14/28 and 3 flats and the mid-day’s 9/33 and 3 flats;

 

When is it wrong to be RIGHT in sector prognosis? Maybe because I’m NOT I-Bank fee driven!

Who is defining the metrics for individual investors? Your portfolio should be profiting from RMi’s analysis!

 

Henry’omics:

Sector stocks fall on first trading day of September – due to being overbought and the low volume incline which begot a low volume decline.

As I had stated about last week’s mantra: “SELL into STRENGTH if you have a strong percentage upside in some equity – LIGHTEN the LOAD!”

In the macro view – “stocks are coming off their best August performance in more than four years as the S&P 500 and NASDAQ both reached all-time highs. The Dow, meanwhile, entered September just 2.5% below its record high.”

September has historically been a tough part of the year for investors. Since 1950, September has been the worst month for the Dow and the broader S&P 500 <according data from "Stock Trader's Almanac.">

This morning’s sermon from the pit, “Starting the month on a seemingly down day; however, the sector will be put to rigorous test in September, with the month among the worst for stock performance. The closed we get to the end of September and Q3 – pricing will fade due to the “seasonality” affect.”

 

The Question is … are you POSITIONED for September?

From the pre-open newsletter: “back in the pit. September’s first day of trading. I’d sit and wait to see which elements of speculation play out!”

 

Pre-open indications: 3 HITs and 0 MISS

  • Asterias Biotherapeutics (NYSEMKT: AST) closed up +$0.05 – hit;
  • BioTime (NYSEMKT: BTX) closed up +$0.04 – hit;
  • Sangamo therapeutics (SGMO) closed up +$0.80 – hit;

 

Of the 45 companies covered on Tuesday; 22 downside equities finished in a range of -0.09% (EDIT) to -7.89% (ADVM) while the 19 upside equities oscillated from +0.02% (SAGE) to +13.69% (KOOL +$0.06) with 4 flat closes (OSIR, AGTC, ATHX and PSTI).

 

Out and about:

CRISPR Stocks Rose as Much as 18.7% in August

Shares of all three major CRISPR gene-editing companies rose double digits in August following the release of Q2 and first-half 2018 earnings from each company. Reporting early in the month, the gene-editing pioneers reminded investors of recent progress as they advance their respective pipelines toward the clinic. Then, on the final day of August, it was announced that the first clinical trial for a CRISPR therapeutic had officially begun in the United States.

It wasn't exactly a secret, as all three stocks delivered most of their monthly gains in the final week of the month. According to data provided by S&P Global Market Intelligence, shares of CRISPR Therapeutics (CRSP) led the pack with an 18.7% gain. That's not too surprising considering the company's CTX001, which is being developed with Vertex, was the drug candidate that entered clinical trials. Intellia Therapeutics (NTLA) and Editas Medicine (EDIT) followed with stock gains of 16.2% and 10.4%, respectively (Motley Fool).

Today’s session:

CRISPR Therapeutics (CRSP -$1.17 or -2.06%), Editas Medicine (EDIT -$0.03 or -0.09%) and Intellia Therapeutics (NTLA -$0.19 or -0.61%) – check the daily ranges for the full effect!

  • CRSP day’s range $53.60 to $59.00 (Thursday’s close $53.46 and Friday’s close $56.67)
  • EDIT day’s range $31.73 to $33.34 (Thursday’s close $32.07 and Friday’s close $32.83)
  • NTLA day’s range $29.58 to $31.33 (Thursday’s close $31.18 and Friday’s close $30.93)

 

Daily analytics and metrics:

  • The DOW closed down -12.34 points or -0.05% to 25,952.48
  • The S&P closed down -4.80 points or -0.17% to 2,896.72
  • The NASDAQ closed down -18.29 points or -0.23% to 8,091.25

 

The advance/decline line scenario of 45 covered companies:   

  • The open was negative with an A/DL of 14/28 and 3 flats;
  • The mid-day was negative with an A/DL of 9/30 and 3 flats;
  • The close was negative with an A/DL of 19/22 and 4 flats;

 

Daily volume anomaly (increased volume versus 3 month average): 

  • Applied Genetic Technologies (AGTC) high volume, closed flat,
  • AxoGen (AXGN) closed up with high volume,
  • Ultragenyx Pharmaceuticals (RARE) closed down with high volume,
  • Histogenics (HSGX) closed down with high volume,
  • BioMarin Pharmaceuticals (BMRN) closed down with high volume,
  • Sangamo therapeutics (SGMO) closed up with high volume,
  • Verastem Oncology (VSTM) closed down with high volume

 

Six (6) key metrics:  

… The greatest volume to the downside: VSTM, BMRN, CRSP, XON and ALNY

… Upside volume was weighted to:  SGMO, MDXG, IONS, KOOL and GBT

… Leadership ($) to the downside:  BMRN (-$4.20), ALNY (-$3.55), BLUE (-$3.35), CRSP (-$1.17) and RARE (-$1.06)

… Best moves ($) to the upside:  RGNX (+$4.85), SLDB (+$2.15), ONCE (+$1.20), AXGN (+$1.15) and BOLD (+$1.11)

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Tuesday was down -0.97%
  • Monday was a holiday
  • Friday was up +0.16%
  • Thursday was up +0.39%
  • Wednesday was +1.3%%
  • Last Tuesday was up +0.49%

 

September sessions:

Tuesday’s (9/4) closed with 22 decliners, 19 advancers and 4 flats  

 

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.