January 16, 2019 6:16pm
Advancers of the Advance/Decline Line (A/DL) are slipping while volume stats are very low, 11 out of the 23 upside had higher (than the 3 month average) volume and 3 out of the 20 downside experienced greater volume (than the 3 month average) volume
Pre-open Indication: 4 HITs and 1 MISS
Out and about: Osiris (OSIR +$1.09 or +8.07% to $14.59) a settlement on behalf of investors who purchased shares between May 12, 2014 and November 16, 2015 is reached. The class action alleged violations of the federal securities laws. Named as defendants were Osiris, Lode Debrabandere, Gregory Law and Philip R. Jacoby, Jr. Settlement is pending final approval.
Outspoken and just right again!
RMi outlines preludes and aftermaths defining the daily dose of facts, investment thesis and objectivity!
The 6 W’s: Who, what, where, when, why and what of it … so who has been where, done what?
- The Dow closed up +141.57 points or +0.59% to 24,207.16
- The S&P closed up +5.80 points or +0.22% to 2,616.10
- The NASDAQ was up +10.86 points or +0.15% to 7,034.69
Sector equities rose on Wednesday follow solid gains in Tuesday’s session.
The partial government shutdown is now setting records, and investors might not be able to ignore it for much longer. It’ all about … uncertainty which takes our eyes off the sector and markets!
Equities have bounced back sharply this year after suffering massive losses in the last few months of 2018.
The major indexes were up at least 3.16% year to date. Since Dec. 24, they have all gained at least 8.8%. Sector equities sold off at the end of last year in part because of fear that risk was not totally identified!
Some of the issue is the LACK of news!
From the morning post: “upside share pricing leaps” keep the roof on although, unsteady pricing and upcoming rising LPS (loss-per-share) earnings will test investors. Are you willing to BUY into equity risk pre-earnings call and a sector that languishes in short-termism?”
Pre-open indications: 4 HITs and 1 MISS
- Alnylam Pharmaceuticals (ALNY) closed up +$0.23 – hit;
- Stemline Therapeutics (STML) closed up +$0.11 – miss;
- CRISPR Therapeutics (CRSP) closed up -$0.01 – hit;
- Editas Medicine (EDIT) closed down -$0.14 – hit;
- Intellia Therapeutics (NTLA) closed up +$0.77 – hit;
The advance/decline line scenario of 45 covered companies:
- The open was positive with an A/DL of 34/8 and 3 flats;
- The mid-day was positive with an A/DL of 29/15 and 1 flat;
- The close was positive with an A/DL of 23/20 and 2 flats;
Pre-open indications: 4 HITs and 1 MISS
- CRISPR Therapeutics (CRSP) closed up +$1.24 – hit;
- Editas Medicine (EDIT) closed up +$1.41 – hit;
- Intellia Therapeutics (NTLA) closed up +$0.72 – hit;
- Stemline Therapeutics (STML) closed up +$0.86 – miss;
- Alnylam Pharmaceuticals (ALNY) closed down -$3.45 – hit;
Leading gainers: SAGE (again), BLUE (again), OSIR, RARE (again) and ONCE
Largest losers: AXGN, IONS, QURE and SLDB, VYGR (both down yesterday)
Tonight’s percentage (%) indicators: thin
- Review the range of the 23 upside from +0.08% (BLFS) to +8.07% (OSIR) while the 20 downside ranged from -0.02% (GBT) to -11.98% (AXGN) with 2 flat closes (AST and RENE.L).
Volume stat: very low
- 11 out of the 23 upside had higher (than the 3 month average) volume
- 3 out of the 20 downside experienced greater volume (than the 3 month average) volume
Daily sector metrics:
… Greatest volume (descending) to the downside:
- AXGN, SLDB, BTX, ADVM and AGTC
… Upside volume was weighted to:
- CRSP, ALNY, BLFS, XON and SGMO
… Weakness ($) to the downside:
- SLDB (-$3.07), AXGN (-$1.99), IONS (-$1.08), QURE (-$0.56) and VYGR (-$0.25)
… Moves ($) to the upside:
- SAGE (+$3.66), BLUE (+$1.34), OSIR (+$1.09), RARE (+$1.01) and ONCE (+$0.79)
… The week’s history lesson, the iShares NASDAQ Biotechnology (IBB) closed:
- Wednesday was down -0.28% after NOT indicating
- Tuesday was up +1.93% after indicating POSITIVE +0.27% upside in the pre-open;
- Monday was down -1.69% after NOT indicating in the pre-open;
- Friday was up +0.10% after NOT indicating;
- Thursday was up +1.3% after NOT indicating;
- Last Wednesday was up +0.7% after NOT indicating;
Wednesday closed POSITIVE with 20 decliners, 23 advancers and 2 flat;
Tuesday closed POSITIVE with 11 decliners, 33 advancers and 1 flat;
Monday closed NEGATIVE with 32 decliners, 10 advancers and 3 flat;
Friday closed NEGATIVE with 23 decliners, 20 advancers and 2 flat;
Thursday closed POSITIVE with 19 decliners, 24 advancers and 2 flat;
Wednesday closed POSITIVE with 18 decliners, 26 advancers and 1 flat;
Tuesday closed POSITIVE with 18 decliners, 26 advancers and 1 flat;
Monday closed POSITIVE with 7 decliners, 38 advancers and 0 flats;
Friday closed POSITIVE with 5 decliners, 40 advancers and 0 flats;
Thursday closed NEGATIVE with 32 decliners, 11 advancers and 2 flats;
Wednesday (1/3/19) closed POSITIVE with 11 decliners, 34 advancers and 0 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.