February 27, 2019 6:36pm

While volume picks-up as the Advance/Decline Line (A/DL) stays on the right side of the sector’s direction

Pre-open indications: 5 HITs and 2 MISS

Quarterly results: Aduro Biotech (ADRO), Global Blood Therapeutics (GBT), Audentes Therapeutics (BOLD) and Intellia Therapeutics (NTLA)

 

Today’s investors’ gold is a trader’s disposable tin!

 

Just be ready, the sector is like a helium filled balloon; it rises so high and then dramatically reduces at a high “altitude” as the cold sets-in to eventually depreciate and explode!

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.

 

Markets and indexes:

  • The Dow closed down -72.82 points or -0.28% to 25,985.15
  • The S&P closed down -1.52 points or -0.05% to 2,792.38
  • The NASDAQ was up +5.21  points or +0.07% to 7,554.51

 

Henry’omics:

I have been conveying a message of patience with the sector’s path, including rebounding from being oversold to becoming overbought by week’s end.

A slew of Washington political theater have kept traders buying the drift while investors remain questioning the path.

Pre-open post, “even the “beat” of street expectation, doesn’t mean much in this sector. Forecasts and earning that surpass are not being recognized. It’s grabbing and selling as one can; as much as there is success, the downside pessimism is always at the tip of the sell button.”

 

Just be ready, the sector is like a helium filled balloon; it rises so high and then dramatically reduces at a high “altitude” as the cold sets-in to eventually depreciate and explode!

 

The advance/decline line scenario of 45 covered companies:  

  • The open was negative with the A/DL to 14/28 and 3 flats;
  • The mid-day was positive with an A/DL of 30/12 and 3 flats;
  • The close was positive with an A/DL of30/14 and 1 flat;

 

Pre-open indications: 5 HITs and 2 MISS

  • AxoGen (AXGN) closed up +$0.45 – miss;
  • Intellia Therapeutics (NTLA) closed up +$0.92 – hit;
  • Ionis Pharmaceuticals (IONS) closed up +$9.32 – hit;
  • Sage Therapeutics (SAGE) closed up +$6.12 – hit;
  • Ultragenyx Pharmaceuticals (RARE) closed up +$2.13 – miss;
  • Voyager Therapeutics (VYGR) closed up +$1.59 – hit;
  • CRISPR Therapeutics (CRSP) closed up +$0.53 – hit;

 

Bouncing to the upside:  

  • IONS (+$9.32), BLUE (+$8.12 after yesterday’s +$2.71), SAGE (+$6.12 after yesterday’s -$6.61), ALNY (+$3.30) and RARE (+$2.13 after yesterday’s -$1.86)

Leading the pack and peers to the downside were:

  • BOLD (-$1.36), STML (-$0.63), VCEL (-0.40), QURE (-$0.33) and MDXG (-$0.07)

Closing FLAT … RENE.L

 

Tonight’s percentage (%) indicators: 

  • Range of the 30 upside was +0.64% (RGNX) to +15.12% (IONS) while the 14 downside ranged from -0.04% (ONCE) to -6.28% (BOLD) with 1 flat close (RENE.L).

Volume stat: 

  • 12 out of the 30 upside had higher (than the 3 month average) volume
  • 6 out of the 14 downside experienced greater volume (than the 3 month average)

 

Daily volume metrics:

… Greatest volume (descending) to the downside: 

  • ONCE, HSGX, VSTM, VCEL and ONVO

… Upside volume was weighted to:

  • IONS, RARE, SGMO, AXGN and SLDB

 

The iShares NASDAQ Biotechnology (IBB) indicator:

  • Wednesday was up +1.64% after NOT indicating in the pre-market;
  • Tuesday was down -0.41% after NOT indicating in the pre-market;
  • Monday was a vacation day
  • Friday was up +1.4% after NOT indicating in the pre-market;
  • Thursday was down -1.76% and a travel and vacation day;
  • Last Wednesday was down -0.27% after NOT indicating in the pre-market;

 

February sessions:

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

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

Monday was a vacation day

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.