September 19, 2018 5:31pm

I’m sticking with the thesis: don’t chase momentum that ascends and dives on trading

Highs are not BUYs as sentiment will stumble

 

Pre-open indications: targets of opportunity (by next Monday) 5 out of 13 overbought today

Out and about: CRISPR Therapeutics (CRSP) proposes $200 M offering with a $30 M underwriting option. CRSP closed down -$1.29 or -1.43% to $51.89 with an immediate aftermarket decline of -$2.29 or another -4.41% so far …

 

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 equities rose on Wednesday as volumes jumped after the previous volatile close.

Sentiment was enhanced by trading!

From the pre-open newsletter: “loading-up on spiking stocks could be detrimental to your portfolio. Key word – rotation, it’s a circular cycle of momentum oriented equities come with a lot of hazards and partial exits are risk-reducing vehicles. It’s a strategy to pound some pricings, maybe not today but, it is coming!”

 

Daily analytics and metrics:

  • The Dow closed up +159.80 or +0.61% to 26, 405.76
  • The S&P closed up +3.64 or +0.13% to 2,907.95
  • The NASDAQ closed down -6.07 points or -0.08% to 7,950.04

 

The advance/decline line scenario of 45 covered companies:   

  • The open was positive with an A/DL of 22/21 and 2 flats;
  • The mid-day was positive with an A/DL of 23/20 and 2 flats;
  • The close was positive with an A/DL of 24/18 and 3 flats;

 

Pre-open indications:

I sticking with the issue of reflex action and the overbought – if NOT today (Wednesday) but, by Monday:

Hits:

  • ADRO -$0.35
  • CRSP -$1.29
  • QURE -$1.34

The whacked and barely up:

  • NTLA +$0.01
  • VSTM +$0.07

 

Of the 45 companies covered on Wednesday; 18 downside equities finished in a range of -0.83% (SLDB) to -18.52% (RENE.L) while 24 upside equity oscillated from +0.03% (NTLA) to +9.51% (FATE) with 3  flat closes (ATHX, ADVM and PSTI).

 

Out and about:

CRISPR Therapeutics (CRSP) has commenced an underwritten public offering of $200,000,000 of its common shares. In addition, the underwriters will have a 30-day option to purchase up to $30,000,000 of additional common shares at the public offering price less the underwriting discount.

Goldman Sachs & Co. LLC, Piper Jaffray & Co., Barclays Capital Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. Guggenheim Securities, LLC and Needham & Company, LLC are acting as co-managers for the offering.

CRSP closed down -$1.29 or -1.43% to $51.89 with an immediate aftermarket decline of -$2.29 or another -4.41% so far

 

Five (5) key metrics:  

… The greatest volume to the downside:  ADRO, GBT, ONVO, RGNX and CRSP

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

… Leadership ($) to the downside:  RENE.L (-$15.00), RGNX (-$2.50), SAGE (-$2.13), ONCE (-$1.43) and QURE (-$1.34)

… Best moves ($) to the upside:  BLUE (+$1.30), FATE (+$1.16), ALNY (+$1.07), RARE (+0.87) and VCEL (+$0.65)

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Wednesday was up +0.13%
  • Tuesday was up +1.12%
  • Monday was down -1.32%
  • Friday was down 0.51%
  • Thursday was up +0.74%
  • Last Wednesday was up +0.05%

 

September sessions:

Wednesday’s closed POSITIVE with 18 decliners, 24 advancers and 3 flats 

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.