September 18, 2018 5:42pm

The sector pops along with the NASDAQ (+0.76%) and the IBB (+1.12%) with extremely low volumes

As I had stated, ““Our” universe should make some better headway after yesterday’s drubbing!”

 

The real issue is what caused Monday’s downdrafts? The weighting of the rebound after a severe sell-offs reinforces, there is a further concern – trading is the foundation of sentiment!

Pre-open indications: 4 HIT and 0 MISS

Out and about: BioTime (NYSEMKT: BTX) Appoints Brian Culley as CEO  

 

Who is defining the metrics for individual investors and which broker, trader, fund or I-Bank is keeping you notified of the sector and market fluctuations?

RMi’s daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined and evaluated.


Henry’omics:

Sector benchmarks re pricing booked an awesome gain on Tuesday shaking-off Monday’s losses.

A BIG factor is still LOW volume to the upside while the “downsiders” experienced larger numbers.

Sentiment is NOT on the side of the sector but, residing with traders, black pools and algorithms.

My cautionary tale is to remember, September ends Q3 which also sends a message of marginal development gains and increased spending.

Macro issues reflect fear of escalating trade tensions between the U.S. and China which had knocked equities off of record highs set last month. The S&P 500 and NASDAQ set all-time highs to end August. This month - September, The S&P was down -0.4% and the NASDAQ was down -2.6% through Monday's close.

I’d take today’s sector response as an indicator of CAUTION!

 

From the pre-open newsletter: “another sector crash too far. These frequent doses of share pricing demise are bottoms to be bought. Rebound territory, the oversold are beckoning!”

 

Daily analytics and metrics:

  • The Dow advanced 184.84 points or +0.71% to 26,146.96
  • The S&P rose 15.51 points or +0.54% to 2,904.31
  • The NASDAQ expanded +60.31 points or +0.76% to 7,956.11

 

The advance/decline line scenario of 45 covered companies:   

  • The mid-day was positive with an A/DL of 37/5 and 3 flats;
  • The close was positive with an A/DL of 36/7 and 2 flats;

 

Pre-open indications: 4 HITs

  • CRISPR Therapeutics (CRSP) closed up +$2.49 - hit;
  • Editas Medicine (EDIT) closed up +$1.13– hit;
  • Fate Therapeutics (FATE) closed up +$0.92 – hit;
  • Intellia Therapeutics (NTLA) closed up +$2.05– hit;

 

Of the 45 companies covered on Monday; 7 downside equities finished in a range of -0.53% (ATHX) to -1.77% (OSIR) while 36 upside equity oscillated from +0.33% (MESO) to +10.55% (SLDB) with 2  flat closes (AST and GBT).

 

Out and about:

BioTime (NYSEMKT: BTX) appoints Brian Culley as CEO … his experience includes the clinical development of pharmaceutical products from research through P3, corporate partnering, institutional capital raising, and numerous other activities. Mr. Culley’s earlier positions include leadership roles in business development and technology transfer and as an early discovery researcher for Neurocrine Biosciences (NBIX). Mr. Culley received a B.S. in biology from Boston College, a Masters in biochemistry and molecular biology from the University of California Santa Barbara, and an M.B.A. from The Johnson School at Cornell University.

Former Co-CEO Adi Mohanty will aid in transition and continue to serve on the Board of Directors (BOD) of Asterias and OncoCyte while former Co-CEO Michael West will focus on the spin-out AgeX and assume CEO responsibilities

 

Five (5) key metrics:  

… The greatest volume to the downside:  ATHX, HSGX, ADVM, BLFS and VYGR

… Upside volume was weighted to:  VSTM, MDXG, SGMO, IONS and BMRN

… Leadership ($) to the downside:  RENE.L (-$0.50), VYGR (-$0.21), BLFS (-$0.21), OSIR (-$0.21) and ADVM (-$0.05)

… Best moves ($) to the upside:  SLDB (+$4.72), CRSP (+$2.86), BLUE (+$2.80), RARE (+$2.54) and NTLA (+$2.13)

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Tuesday was up +1.12%
  • Monday was down -1.32%
  • Friday was down 0.51%
  • Thursday was up +0.74%
  • Wednesday was up +0.05%
  • Last Tuesday was down -0.42%

 

September sessions:

Tuesday’s closed POSITIVE with 7 decliners, 36 advancers and 2 flats 

Monday’s closed NEGATIVE with 31 decliners, 12 advancers and 2 flats 

Friday’s closed POSITIVE with 19 decliners, 23 advancer and 3 flats 

Thursday’s closed NEGATIVE with 22 decliners, 20 advancer and 3 flats 

Wednesday’s closed POSITIVE with 20 decliners, 25 advancer and 0 flats 

Tuesday’s closed POSITIVE with 20 decliners, 23 advancer and 2 flats 

Monday’s closed NEGATIVE with 28 decliners, 17 advancer and 2 flats 

Friday’s closed POSITIVE with 15 decliners, 23 advancer and 7 flats 

Thursday’s closed NEGATIVE with 39 decliners, 1 advancer and 5 flats 

Wednesday’s closed NEGATIVE with 30 decliners, 12 advancers and 3 flats 

Tuesday’s (9/4) closed NEGATIVE 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.