January 29, 2019 12:50pm
A few long jumpers as most are losers fall to new bottoms
As the IBB springs back and forth (-0.01%) while the NASDAQ dives (-0.60%)
Confidence is a victim ...
Reiterating, the remainder of the month’s trading sessions will be critical for the RegMed sector which will establish whether market reaction to recent events is temporary and short-lived, or if this is a continuation of a more fundamental correction.
The sector is what it is; until it isn’t and even then, what does it seem to be?
The 6 W’s: Who, what, where, when, why and what of it … Insight is about understanding perception
Pre-open post, “sector risks vary resulting from low volume and steep declines as we climb a wall of worry, confidence and conviction are vulnerable; do we play “pick-up-stocks”
The iShares Nasdaq Biotechnology (IBB) did NOT indicated and is down -0.05% at the mid-day.
When the Advance/Decline Line (A/DL) of 45 covered companies:
- The open was negative with the A/DL to 16/27 and 2 flat;
- The first hour popped positive with an A/DL of 25/18 and 3 flat;
- The second hour slipped negative with an A/DL of 19/22 and 4 flats;
- The mid-day stayed negative with an A/DL of 17/25 and 3 flats;
The question is whether investors should be fearful, especially in a market that has so many readily visible hot spots to seemingly burst into flames in a follow-on session!
The CRISPERs got “hit” again: CRSP -$0.17 or -0.55% to $31.00, EDIT -$0.50 or -2.42% to $20.16 and NTLA -$0.43 or -3.19% to $13.03 – still dropping!
Trading to the upside on news of a collaboration: Voyager Therapeutics (VYGR +$2.94 or +36.57%).
Leading the gains: ALNY (+$1.18 or +1.54%), VCEL (+$0.41 or +2.65%), SLDB (+$0.25 or +1.05%), BTX (+$0.44 or +48.75%), CLLS (+$0.44 or +2.71%), and STML (+$0.28 or +2.75%)
The UGLY lead the downside: BLUE (-$3.58 or -2.84%), IONS (-$1.51 or -2.65%), FIXX (-$0.86 or -4.14)
Percentage gainers – out of nowhere: AST (+$0.23 or +31.94%), BTX (+$0.45 or +50.50%)
BSTG, RENE.L and BLCM enjoyed being flat than a “splat” versus a hammering.
I kept talking about uncertainty as many fear trading of the recent lows.
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.