February 15, 2019 6:20pm

Making-up for lost ground as the sector shakes off clinical miss risks

Fundamentals are mutable as investor confidence has been ravaged by the sudden rotations of share pricing values

Pre-open indications: 4 HITs and 1 MISS

 

It’s not hard to be right so often; that’s why the term “quantamental,” a blend of the two styles, may soon become common parlance among investors and traders.

There are a variety of end uses to sector forecasts; the most prominent, they are used to protect your portfolio’s life and value.

 

Friday's market's close:

  • The Dow closed up +443.86 points or +1.74% to 25,883.25
  • The S&P closed up +29.87 points or +1.09% to 2,775.60
  • The NASDAQ was up +46.46  points or +0.61% to 7,472.41

 

Henry’omics:

Sector equities surged on Friday from being oversold amid increasing hopes for a U.S.-China trade deal after down sessions on Wednesday and Thursday.

The NASDAQ also posted its eighth consecutive weekly gain. The S&P 500, meanwhile, closed its seventh weekly gain in eight. The indexes rose at least 2.4% each this week.

The moves Friday come after the Dow and S&P 500 fell on much weaker-than-forecast retail sales numbers. Data from the Commerce Department showed U.S. retail sales contracted by 1.2% in December; the largest monthly fall since September 2009. On the data front, industrial production for January fell 0.6%. Economists expected an increase of 0.3%. Consumer sentiment data for February, meanwhile, topped expectations <CNBC>.

Since, I consider myself being an optimist … contrarian tendencies induce a short selling approach as we still haven’t experienced the dips and slips of Q4 and FY18 LPS (loss-per-share) earnings releases.

Streaks to dramatic new highs are always followed depressing lows!

 

Pre-open post, “the known and the unknowns; recent clinical misses (CLBS and SLDB), volatility, low volume and sentiment qualms add to the risk of share pricing also, the IBB has also been up five (5) up sessions in a row without indicating in the pre-open … Follow the bouncing share pricing.”

 

Pre-open indications: 4 HITs and 1 MISS

  • blue bird bio (BLUE) closed up +$2.44 – miss;
  • CRISPER Therapeutics (CRSP) closed up +$0.58 - hit;
  • Editas Medicine (EDIT) closed up +$0.22 - hit;
  • Intellia therapeutics (NTLA) closed up + $0.10 - hit;
  • Solid Biosciences (SLDB) closed up +$0.21 – hit;

 

The advance/decline line scenario of 45 covered companies:  

  • The open was positive with the A/DL to 25/18 and 2 flats;
  • The mid-day was positive with an A/DL of 36/8 and 1 flat;
  • The close was positive with an A/DL of 38/6 and 1 flat;

 

Bouncing to the upside:

  • SAGE (+$2.84 after yesterday’s +$0.46 after Wednesday’s +3.74), BLUE (+$2.74 after Thursday’s -$1.33), ONCE (+$2.17 after Yesterday’s +$1.18), RGNX (+$1.66 after yesterday’s +$1.10) and GBT (+$1.57)

Leading the pack and peers to the downside were:

  • RENE.L (-$0.50), AXGN (-$0.35), SGMO (-$0.21), AGTC (-$0.09) and HSGX (-$0.0022)

 

Closing FLAT … BSTG

 

Tonight’s percentage (%) indicators: 

  • Range of the 38 upside was +0.19% (IONS) to +17.35% (CUR) while the 6 downside ranged from -0.06% (KOOL) to -2.96% (AGTC) with 1 flat close (BSTG).

Volume stat: 

  • 13 out of the 38 upside had higher (than the 3 month average) volume
  • 0 out of the 6 downside experienced greater volume (than the 3 month average)

 

Daily volume metrics:

… Greatest volume (descending) to the downside: 

  • HSGX, SGMO, AXGN, KOOL and AGTC   

… Upside volume was weighted to:

  • VSTM, ADRO, XON, BMRN and SLDB

 

The iShares NASDAQ Biotechnology (IBB) indicator:

  • Friday was up +1.65% after NOT indicating in the pre-market;
  • Thursday was up +0.43% after NOT indicating in the pre-market;
  • Wednesday was up +0.30% after NOT indicating in the pre-market;
  • Tuesday was up +1% after NOT indicating in the pre-market;
  • Monday was up +0.50% after NOT indicating in the pre-market;
  • Last Friday was up +0.63% after NOT indicating in the pre-market;

 

February sessions:

Friday closed POSITIVE with 6 decliners, 38 advancers and 1 flat;

Thursday closed NEGATIVE with 28 decliners, 16 advancers and 1 flat;

Wednesday closed NEGATIVE with 25 decliners, 19 advancers and 1 flat;

Tuesday closed POSITIVE with 11 decliners, 33 advancers and 1 flat;

Monday closed POSITIVE with 14 decliners, 30 advancers and 1 flat;

Friday closed POSITIVE with 18 decliners, 25 advancers and 2 flat;

Thursday closed NEGATIVE with 37 decliners, 7 advancers and 1 flat;

Wednesday closed NEGATIVE with 24 decliners, 20 advancers and 1 flat;

Tuesday closed NEGATIVE with 26 decliners, 15 advancers and 4 flat;

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

Friday closed POSITIVE with 14 decliners, 29 advancers and 2 flat;

 

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.