October 12, 2018 6:09pm

There are two things, investor should do after these declines; catalogue your portfolio inventory - why you own current equities and stay defensive!

Q3 results ramp-up on October 25th

 

Pre-open indications: 9 HITs and 1 MISS

 

RMi puts the facts into evidence for the metrics to speak; my motto, “Never leave an investor uninformed”! 


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.

 

Daily analytics and metrics:

  • The Dow closed up +287.16 points or 1.15% to 25,339.99
  • The S&P closed up +38.76 points or +1.42% to 2,767.13
  • The NASDAQ closed up + 167.83 points or +2.29% to 7,496.89

 

The advance/decline line scenario of 45 covered companies:   

  • The open was positive with an A/DL of 42/3 and 0 flat;
  • The mid-day was positive with an A/DL of 37/7 and 1 flat;
  • The close was positive with an A/DL of 35/9 and 1 flat;

 

Pre-open indications: 9 HIT and 1 MISS

  • Audentes Therapeutics (BOLD) closed up +$0.56 – hit;
  • AxoGen (AXGN) closed up +$1.51 – hit;
  • bluebird bio (BLUE)closed down -$0.55 – miss;
  • Cellectis SA (CLLS) closed up +41.09 – hit;
  • CRISPR Therapeutics (CRSP) closed up +$0.75 – hit;
  • Editas Medicine (EDIT) closed up +$0.77 – hit;
  • Intellia Therapeutics (NTLA) closed up +$0.75 – hit;
  • Global Blood Therapeutics (GBT) closed up +$1.45 – hit;
  • Regenxbio (RGNX) closed up +$1.40 – hit;
  • Sangamo Therapeutics (SGMO) closed up +$0.28 – hit;

 

Five (5) key metrics: 

… The greatest volume to the downside:  VSTM, BLUE, RARE, ATHX and BLCM

… Upside volume was weighted to:  HSGX, MDXG, BOLD, CRSP and SGMO

… Leadership ($) to the downside:  RARE (-$1.30), STML (-$1.00), VSTM (-$0.58), BLUE (-$0.55) and BLCM (-$0.09)

… Best moves ($) to the upside:  SAGE (+$5.03), RENE.L (+$4.50), ALNY (+$2.65), BMRN (+$2.21) and IONS (+$1.63)

… The iShares NASDAQ Biotechnology (IBB) closed:

  • Friday was up +1.99 % after indicating a POSITIVE +1.49% in the pre-market;
  • Thursday was down -2% after indicating a NEGATIVE -0.96% in the pre-market;
  • Wednesday was down -3.32% after NOT indicating in the pre-market;
  • Tuesday was down -0.45% after indicating a NEGATIVE -0.04% in the pre-market;
  • Monday was down -0.76% after NOT indicating in the pre-market;
  • Last Friday was down -1.15% after NOT indicating in the pre-market;

 

Henry’omics:

Sector equities traded in a wide range Friday – anything was better than what the week brought us!

Despite the strong gains, the major indexes logged in their worst weekly performances since March.

Despite the strong gains, the Dow and S&P 500 finished the week down by more than 4%, while the NASDAQ posted a 3.7% weekly loss. The steep losses marked their worst weekly declines since March. The S&P 500 also logged in a three-week losing streak, its longest since June 2016.

The Cboe Volatility index (VIX), widely considered the best gauge of fear in the market, hit its highest level since February this week. It traded at 25.18 on Friday, up about 70%.

I am still in a wait and see mode to how the sector reacts in the next few days.

 

Of the 45 companies covered on Friday; 9 downside equities finished in a range of -0.43% (BLUE) to -9.31% (VSTM) while 35 upside equities oscillated from +0.07% (XON) to +12.07% (HSGX +$0.06) with a 1 flat close (ADRO).

 

From the pre-open newsletter: “ready for a rebound? Show me the turn, a greening of futures and then rebalance portfolios to stay defensive. Oversold is a temporary state but, sustainability is the key aspect of a recovery!”

 

October sessions:

Friday closed POSITIVE with 9 decliners, 35 advancers and 1 flat;

Thursday closed NEGATIVE with 38 decliners, 7 advancers and 0 flat;

Wednesday closed NEGATIVE with 42 decliners, 2 advancers and 1 flat;

Tuesday closed NEGATIVE with 23 decliners, 18 advancers and 4 flats;

Monday closed NEGATIVE with 34 decliners, 10 advancers and 1 flat;

Friday closed NEGATIVE with 26 decliners, 17 advancers and 2 flat;

Thursday closed NEGATIVE with 35 decliners, 8 advancers and 2 flat;

Wednesday closed POSITIVE with 16 decliners, 27 advancers and 2 flat;

Tuesday closed NEGATIVE with 32 decliners, 12 advancers and 1 flat

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.