October 1, 2018 5:21pm

As the NASDAQ (-0.11%) stumbled and I having stated, “The oversold will be in a race to be overbought”– missed that “divination”, so after a deep decline, maybe tomorrow?

Is it risk, sentiment or just plain volatility and time to skim any upside from sector participants?

 

RMi puts the facts into evidence for the metrics to “speak”!

A 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 closed lower on the first day of Q4 as investors hailed news of Canada joining a trade deal with the United States and Mexico.

As I had stated on Friday, “Keep an eye on the CRISPERS: CRISPR Therapeutics (CRSP -$2.01), Editas Medicine (EDIT -$1.35) and Intellia (NTLA -$1.49). I wasn’t wrong!

Applied Genetic Technologies (AGTC) dumped another -$0.45 to fall to $6.85 after Friday’s $7.30 and Thursday’s $7.35 having jumped from $6.50 over a Wells Fargo report on comparables initial data of P1/2 positive results - Nightstar Therapeutics PLC (NITE) which is down -$1.91 or -9.35% to $18.52 today after Friday’s $20.43 and Thursday’s $18.62, another correct SELL call.

BioLife Solutions (BLFS) closed down -$0.33 or -1.89% to $17.17 after Friday’s $17.50 and Thursday’s $17.23 and last Wednesday’s $16.70 – we will see an incline as BLFS preliminary revenue from sales of media products reached a record $5.3 million (after Q2’s $5.2M) which represents a 79% increase over Q3/17. I still think it is OVERBOUGHT.

Caladrius Biosciences (CLBS) closed down -$0.13 or -2.20% to $5.77 after Friday’s $5.90, Thursday’s $5.75 and last Wednesday’s $5.75 – I MAINTAIN SELL.

To be fair, I also believe SAGE Therapeutics (SAGE) is OVERSOLD; just so happens with an aftermarket indication of +$1.66 or +1.19%.

Verastem Oncology (VSTM) with a FDA approval and Chinese collaboration has been subjected to trading pressures and OVERSOLD and has an aftermarket indication of +$0.03 or +0.38%. I am sticking to a BUY ranking

I still believe that the oversold need a push to overcome – not sentiment but the algorithms and dark pools!

 

From the pre-open newsletter: “a new quarter for trading kicks off with a new NAFTA deal called USMCA. The IBB is jumping (+0.61%), followed by the XBI (+0.35%), the XLV (+0.62%) and the IWM (+0.56%) indicating an UPSIDE in Monday’s pre-open. The oversold will be in a race to be overbought.”

 

Daily analytics and metrics:

  • The Dow closed up +198.87 points or +0.75% to 26,657.18
  • The S&P closed up +10.61 points or +0.36% to 2,924.59
  • The NASDAQ closed down -9.05 points or -0.11% to 8,037.30

 

The advance/decline line scenario of 45 covered companies:   

  • The open was negative with an A/DL of 22/21 and 2 flat;
  • The mid-day continued negative with an A/DL of 19/25 and 1 flat;
  • The close was negative with an A/DL of 13/33 and 1 flat;

 

Of the 45 companies covered on Monday; 33 downside equities finished in a range of -0.25% (FATE) to -10.95% (BOLD) while 13 upside equity oscillated from +0.10% (RARE) to +7.48% (CUR +0.08) with 1 flat close (PSTI).

 

Five (5) key metrics:  

… The greatest volume to the downside:  VSTM, XON, MDXG, SGMO and CRSP

… Upside volume was weighted to:  BMRN, HSGX, KOOL, ALNY and ATHX

… Leadership ($) to the downside:  BLUE (-$5.21), RENE.L (-$4.50), BOLD (-$4.33), QURE (-$4.33) and SAGE (-$2.35)

… Best moves ($) to the upside:  BMRN (+$1.65), ALNY (-$0.81), MESO (+$0.440, STML (+$0.44) and RARE (+$0.08)

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Monday (10/1) was down -0.63% with after a pre-market indication of +0.61%
  • Friday was up +0.06%
  • Thursday was up +1.04%
  • Wednesday was up +0.34 %
  • Tuesday was up +0.23 %
  • Last Monday was up +1.19%

 

October sessions:

Monday (10/1) closed NEGATIVE with 33 decliners, 13 advancers and 1 flat

 

In 19 sessions in September – there were 10 negative closes and 9 positive close;

In 21 August sessions – 6 had negative and 15 had positive closes

 

 

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.