February 23, 2019 6:56am

Flying higher on momentum from three (3) past down sessions and Monday was a market holiday

A one (1) session rise in stock prices does NOT shrink risk perceptions as more LPS (loss-per-share) “earnings” are on their way

Pre-open indications: 5 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.

Even when i am "off", I am ...on!

 

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

 

Markets and indexes:

  • The Dow closed up +161.18 points or +0.70% to 26,031.81
  • The S&P closed up +17.79 points or +0.64% to 2,792.67
  • The NASDAQ was up +67.84  points or +0.91% to 7,527.54

 

Henry’omics:

Markets and the sector rose on Friday as another round of trade talks between the U.S. and China wrapped up with investors increasingly more hopeful a deal will be struck.

The Dow broke above 26,000 for the first time since early November and posted its ninth consecutive weekly gain, its longest streak since May 1995. The NASDAQ also notched its ninth straight weekly gain, its longest streak since May 2009.

The small-caps Russell 2000 gained 0.9% to close at 1,590.06 and recorded its longest weekly winning streak since 1996.The S&P 500 climbed 0.6% to 2,792.67 <CNBC>.

Optimism in “our” universe travels the path always to fall-off when the quick-sane drags us down to be pulled-out and up again!

We are back to Q4 releases – next week, don’t lean into the wind and lower your sails!

AND ... “March Madness this year could refer to something other than college basketball, which doesn’t seem priced into the markets <MarketWatch>.

 

Pre-open post, “… transcending to a Friday close as the Advance/Decline Line (A/DL) exhibited Thursday with a minor gap with 21/22 and 1 flat).”

I also stated, “I was headed to: “Warmer climates (86) do make the cold (39) go far away – it’s my “bones” that were suffering>”

 

Pre-open indications: 5 HITs and 1 MISS

  • BioMarin Pharmaceutical (BMRN) closed down -$0.94 – hit;
  • bluebird Bio (BLUE) closed up +$4.08) – hit;
  • Voyager Therapeutics (VYGR) closed up +$2.44 – hit;
  • Sangamo Therapeutics (SGMO) closed up +$0.28 – hit;
  • Mesoblast (MESO) closed up +$0.27 – miss;
  • Ultragenyx Pharmaceuticals (RARE) closed up +$1.56 – hit;

 

The advance/decline line scenario of 45 covered companies:  

  • The open was positive with the A/DL to 28/15 and 2 flats;
  • The mid-day continued  positive with an A/DL of 33/11 and 1 flat;
  • The close was positive with an A/DL of 33/10 and 2 flats;

 

Bouncing to the upside:  

  • SAGE (+$7.79), BLUE (+$4.08), VYGR (+$2.44), ALNY (+$1.97) and RARE (+$1.56)

Leading the pack and peers to the downside were:

  • BMRN (-$0.94), BLFS (-$0.19), BLCM (-$0.07), AXGN (-$0.05) and CLBS (-$0.05)

Closing FLAT:

  • AST and RENE.L

 

Tonight’s percentage (%) indicators: 

  • Range of the 33 upside was +0.25% (ADRO) to +22.85% (VYGR) while the 10 downside ranged from -0.16% (KOOL) to -3.12% (BTX) with 2 flat close (AST and RENE.L).

Volume stat: 

  • 9 out of the 33 upside had higher (than the 3 month average) volume
  • 3 out of the 10 downside experienced greater volume (than the 3 month average)

 

Daily volume metrics:

… Greatest volume (descending) to the downside: 

  • HSGX, BMRN, BTX, AXGN and BLCM

… Upside volume was weighted to:

  • VYGR, ADRO, VSTM, SGMO and VSTM

 

The iShares NASDAQ Biotechnology (IBB) indicator:

  • Friday was up +1.4% after NOT indicating in the pre-market;
  • Thursday was down -1.76% and a travel and vacation day;
  • Wednesday was down -0.27% after NOT indicating in the pre-market;
  • Tuesday was down -0.57% after NOT indicating in the pre-market;
  • Monday was a market holiday;
  • Last Friday was up +1.65% after NOT indicating in the pre-market;

 

February sessions:

Friday closed POSITIVE with 33 decliners, 10 advancers and 2 flat;

Thursday closed NEGATIVE with 22 decliners, 21 advancers and 2 flat;

Wednesday (2/20) closed NEGATIVE with 24 decliners, 20 advancers and 1 flat;

Tuesday closed NEGATIVE with 24 decliners, 18 advancers and 3 flats;

Monday was a market holiday;

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

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

Wednesday (2/13) 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 (2/6) 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.