November 27, 2018 5:55pm
Volume stat: 1 out of the 7 upside had higher (than the 3 month average) volume while 10 out of the 37 downside experienced greater volume (than the 3 month average).
Pre-open indications: 5 HITS and 0 MISS
Out and about: the CRISPRS (CRSP, EDIT and NTLA) get wacked yet again, I’ve kept saying – they are trading vehicles
There is no breadline for share pricing and fact based intelligence!
Some have stated, “I am the “weatherman” of the sector; forecasting and presenting conditions of the sector in a given period.”
“Venimus nos emit et vendidit nos rursus” – “We have bought and sold again"
Daily analytics and metrics:
- The Dow closed UP +108.49 or +0.44% to 24,748.73
- The S&P closed UP +8.75 points or +0.33% to 2,682.20
- The NASDAQ was UP +0.85 points or +0.01% to 7,082.70
From the pre-open newsletter: “say good-bye to some share pricing highs! Good news, bad press or the lack of makes markets melt just as Icarus had wings of feathers and wax.”
I also stated, “I am RESUMING my cautious approach to ANY new purchases; I perceive a run on the upside!”
The advance/decline line scenario of 45 covered companies:
- The open was negative with an A/DL of 12/31 and 2 flats;
- The mid-day was negative with an A/DL of 5/37 and 3 flats
- The close was negative with an A/DL of 7/37 and 1 flat;
Pre-open indications: 5 HITS and 0 MISS
- bluebird bio (BLUE) closed down -$5.59 – hit;
- Alnylam Pharmaceuticals (ALNY) closed down -$o.44 – hit;
- CRISPR Therapeutics (CRSP) closed down -$0.16 – hit;
- Editas Medicine (EDIT) closed down - $1.34 – hit;
- Intellia Therapeutics (NTLA) closed down -$1.19 – hit;
Daily sector metrics:
… Greatest volume to the downside: XON, VSTM, VCEL, HSGX and SGMO
… Upside volume was weighted to: FATE, AXGN, OSIR, AST and BLFS
… Weakness ($) to the downside: SAGE (-$9.29), BLUE (-$5.59), RARE (-$2.19), GBT (-$%1.75) and VCEL (-$1.73)
… Best moves ($) to the upside … OSIR (+$0.66), CLBS (+$0.15), AXGN (+$0.13), FATE (+$0.10) and BLFS (+$0.08)
The iShares NASDAQ Biotechnology (IBB) closed:
- Tuesday was down -0.3% after NOT indicating in the pre-market;
- Monday was up +1.7% after NOT indicating in the pre-market;
- Friday was up +0.40% after NOT indicating in the pre-market;
- Thursday was a holiday;
- Wednesday was up +0.61% after indicating a POSITIVE +0.02% UPSIDE in the pre-market;
- Last Tuesday was down -0.60% after indicating a NEGATIVE -0.47% DOWNSIDE in the pre-market;
Sector equities were under pressure as shares of Sage therapeutics (SAGE -$9.29) and bluebird bio (BLUE -$5.59)
Investors have also fretted over the vagaries of the evolution of the downside bias!
Sector equities jumped on extremely LOW volume on Tuesday as the leaders were OSIR (+$0.66), CLBS (+$0.15) as volatility weighed heavily on both sides of my coverage list of equities.
I also believe the TAX selling is beginning early if TRUST is a factor – it’s extremely UNRELIABLE!
Athersys (ATHX) closed down -$0.02 after Monday’s -$0.06 and last Friday’s up +$0.01 killing most of last week’s downs;
BioLife Solutions (BLFS) popped a bit +$0.08 after redeeming the remaining 3,187 shares of Series A Redeemable Preferred stock outstanding for $3,187,000. There are no Series A shares remaining for future redemption. The Series A shares were issued to WAVI Holdings AG, their largest shareholder, in June 2017 in exchange for a previously issued promissory note. Monday the shares crashed -$0.39 after Friday’s +$0.30;
Caladrius Biosciences (CLBS) closed up +$0.15 after Monday’s FLAT at $4.36 as November started at $4.84 and October’s $5.77 – never been a fan;
Global Blood Therapeutics (GBT) closed down again -$1.75 after Monday’s -$0.84 to $33.81 after Friday’s up +$0.55 – HOLD and wait for a rebound;
MiMedx (MDXG closed down again -$0.17 after Monday’s -$0.16 and last Friday’s -$0.08, and its fellow past criminal Osiris (OSIR) closed up +$0.66 after Monday’s +$0.15 and another “new” President and CEO. One question is Vericel (VCEL) closed down -$1.73 could be caught up in the sector - channel stuffing (?) after Monday’s +$2.12, Friday’s +$0.15 and last Wednesday’s +$0.04.
Verastem (VSTM) closed down again -$0.16 after Monday’s -$0.13 and Friday’s barely bouncing +$0.01, Wednesday’s +$0.12 to $5.16 post taking a hits with the previous Tuesday’s-$0.15 or -2.89%. Oversold spread its share pricing wings – but, is there a management credibility issue?
Tonight’s percentage (%) indicators:
- Review the range of the 7 upside from +0.42% (AXGN) to +6.03% (OSIR) while the 37 downside ranged from -0.44% (CRSP) to -11.98% (STML) with a 1 flat close (ONVO).
- 1 out of 7 upside had higher (than the 3 month average) volume
- 10 out of 37 downside experienced greater volume (than the 3 month average).
Tuesday closed NEGATIVE with 37 decliners, 7 advancers and 1 flat;
Monday closed POSITIVE with 18 decliners, 25 advancers and 2 flat;
Friday’s abbreviated session closed POSITIVE with 17 decliners, 27 advancers and 1 flat;
Thursday was a holiday
Wednesday closed POSITIVE with 8 decliners, 37 advancers and 0 flat;
Tuesday closed NEGATIVE with 29 decliners, 14 advancers and 2 flat;
Monday closed NEGATIVE with 37 decliners, 7 advancers and 1 flat;
Friday closed POSITIVE with 14 decliners, 28 advancers and 3 flat;
Thursday closed POSITIVE with 12 decliners, 33 advancers and 0 flat;
Wednesday closed NEGATIVE with 36 decliners, 7 advancers and 2 flats;
Tuesday closed NEUTRAL with 21 decliners, 21 advancers and 3 flats;
Monday closed NEGATIVE with 40 decliners, 4 advancers and 1 flat;
Friday closed NEGATIVE with 39 decliners, 6 advancers and 0 flat;
Thursday closed NEGATIVE with 26 decliners, 19 advancers and 1 flat;
Wednesday closed POSITIVE with 12 decliners, 32 advancers and 1 flat;
Tuesday closed NEGATIVE with 22 decliners, 21 advancers and 2 flats;
Monday closed NEGATIVE with 35 decliners, 7 advancers and 3 flats;
Friday closed POSITIVE with 20 decliners, 22 advancers and 3 flats;
Thursday (11/1) closed POSITIVE with 3 decliners, 42 advancers and 0 flat
- In 23 sessions in October – there were 17 negative closes and 6 positive closes
- 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.