March 19, 2019 6:10pm
Right again as the sector slips as I had stated, “Momentum is getting edgy, resistance is wobbly and sector breadth is weakening.”
The upside was lean (most under a buck) awhile the downside (just under $2.00) got “checked” into the boards
Volume was also wishy-washy: 8 out of the 19 upside had higher (than the 3 month average) volume and 5 out of the 22 downside experienced greater volume (than the 3 month average)
Pre-open indications: 6 HIT and 2 MISS (by pennies)
Review the snapshot of the daily ‘workings” of the sector composite of cell and gene therapy companies.
That’s why my “quantamental” blend of styles; must become the “tool” for investors and traders to portfolio enrichment.
Markets and indexes:
- The Dow closed down -26.72 points or -0.10% to 25,887.38
- The S&P closed down -0.37 points or -0.01% to 2,832.57
- The NASDAQ was up +9.47 points or +0.12% to 7,723.95
In a macro view, “Stocks started to roll over after Bloomberg News reported, citing people familiar with the matter, that U.S. officials are worried China may be pushing back against U.S. demands in the countries’ ongoing trade talks. The report also said Chinese negotiators are worried they have not received assurances that tariffs imposed on Chinese goods would be lifted once a deal is struck.”
One of my morning themes, “Skim if you can trim, buy if it will fly and sell if compelled!”
I believe investors are sitting on the sidelines as traders are the prime movers whether up or down!
Sector equities posted Tuesday’s gains were led by:
- QURE (+$0.68 after Monday’s +$2.43)), STML (+$0.46), RGNX (+$0.22 after Monday’s +$0.84), CLBS (+$0.19 and NTLA (+$0.15)
Crashing on Tuesday was:
- BMRN (-$1.92 after Monday’s -$1.17), ALNY (-$1.61), RENE.L (-$1.00 after Monday’s +$6.00), GBT (-$0.93) and FIXX (-$0.79)
Caladrius Biosciences (CLBS) bounced +$0.19 after Monday’s decline -$0.18 –ATM picking up the slack?
- Athersys (ATHX) closed up again +$0.02 to $1.55 after Monday’s +$0.02. After all these YEARS, where has it been and where is it going having started the year at $1.48 as compared to 3/19/18’s $1.89;
BioLife Solutions (BLFS) closed down -$0.34 after Monday’s +$1.81 to $20.51 – an Icarus flight?
- bluebird bio (BLUE) closed down again but barely -$0.07 to $156.10 after Monday’s -$1.87 and still feeling the pain of fluctuation and low volume although it saw a low of $138.83 (3/8) having started March at $156.66, February 1 at $134.63 and January 2’s $99.50 – many are still in the money ;
BioTime (NYSE American: BTX) is slipping again -$0.06 to $1.57 after Monday’s -$0.10 after their acquisition of Asterias (NYSE American: AST) – their real value has yet to be realized;
- Stemline Therapeutics (STML) bounced back +$0.46 to $13.36 after closing down -$0.72 after an I-Bank’s Strong BUY;
Verastem Oncology (VSTM closed up +$0.03 to $3.41 after Monday’s +$0.27; finally we are seeing upside after a bumpy ride since 3/1’s $3.10 after 3/8’s low of $2.79, 2/1’s $3.22 and 1/2’s $3.61;
- CRSP closed down again -$0.64 to $37.24 after Monday’s -$0.76, followed by …
- EDIT closed up +$0.14 after Monday’s -$0.32 and …
- NTLA closing up again +$0.15 to $16.86 after Monday’s +$0.02 – they are STILL stuck as trading vehicles;
Mesoblast (MESO) is showing renewed strength closing up again +$0.05 to $5.22 after Monday’s +$0.79 with lower volume of 157.5 K shares traded following Monday’s 339.9 K shares (3 month average = 45.6 K shares> ;
Pre-open post, “feeling a hiccup coming, momentum is getting edgy, resistance is wobbly and sector breadth is weakening; thus strength is a commodity to be profited from … Monday (3/18) and last Friday closed up, Thursday was down while Wednesday, last Tuesday, the previous Monday (3/11), Friday and Thursday closed up.”
The advance/decline line scenario of 45 covered companies:
- The open was positive with the A/DL to 24/19 and 1 acquired (AST);
- The mid-day was negative with an A/DL of 18/24 and 3 flats and 1 acquired;
- The close was negative with an A/DL of 19/22 and 3 flats and 1 acquired;
Pre-open indications: 6 HIT and 2 MISS
- BioLife Solutions (BLFS) closed down -$0.34 – hit;
- Verastem Oncology (VSTM) closed up +$0.03 – miss;
- CRISPRS Therapeutics (CRSP) closed down another -$0.64 – hit;
- Editas Medicine (EDIT) closing up +$0.14 – hit;
- Intellia Therapeutics (NTLA) closing up +$0.15 – hit;
- Mesoblast (MESO) closed up +$0.05 – miss;
- Intrexon (XON) closed flat at $5.62 with 1.95 M shares traded – hit;
- ReNeuron (RENE.L) closed down -$1.00 – hit;
Tonight’s percentage (%) indicators:
- Range of the 19 upside was +0.10% (RARE) to +25.42% (HSGX +$0.03) while the 22 downside ranged from -0.04% (BLUE) to -4.01% (MDXG).
- 8 out of the 19 upside had higher (than the 3 month average) volume
- 5 out of the 22 downside experienced greater volume (than the 3 month average)
3 flats – BOLD, OSIR and XON with 1 acquired: 1 (AST)
The iShares NASDAQ Biotechnology (IBB) indicator:
- Tuesday was down -0.06% after NOT indicating;
- Monday was down -0.31% after NOT indicating;
- Friday was up +1.07% after indicating a positive +0.26% in the pre-market;
- Thursday was down -0.22% after indicating;
- Wednesday was up +1.31% after indicating;
- Last Tuesday was up +0.82% after NOT indicating;
Tuesday closed NEGATIVE with 22 decliners, 19 advancers, 3 flats and 1 acquired;
Monday (3/18) closed POSITIVE with 17 decliners, 27 advancers and 1 acquired;
Friday closed POSITIVE with 12 decliners, 32 advancers and 1 flat;
Thursday closed NEGATIVE with 30 decliners, 13 advancers and 2 flats;
Wednesday closed POSITIVE with 12 decliners, 30 advancers and 3 flats;
Tuesday closed POSITIVE with 13 decliners, 30 advancers and 2 flats;
Monday (3/11) closed POSITIVE with 7 decliners, 37 advancers and 1 flat;
Friday closed POSITIVE with 20 decliners, 22 advancers and 3 flats;
Thursday closed POSITIVE with 14 decliners, 29 advancers and 2 flats;
Wednesday closed NEGATIVE with 39 decliners, 5 advancers and 1 flat;
Tuesday (3/4) closed POSITIVE with 17 decliners, 23 advancers and 5 flats;
Monday (3/1) closed NEGATIVE with 24 decliners, 18 advancers and 3 flats;
Friday (3/1) closed POSITIVE with 11 decliners, 32 advancers and 2 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.