June 13, 2019 8:42pm

Downside moves were de minimus while the upside added strength through volume

Pre-open indications: 4 HITs and 0 MISS

To prepare for quarterly reporting swings in 2019, investors can rebalance their risk if necessary, set appropriate earnings expectations, and ensure their current upside portfolios are aligned.

 


 

Every day, I “make my bones”; it’s time for you to step-up for continued access to what one industry CEO calls the “bible” for smart investing in the RegMed, gene and cell therapy sector. 

 

Markets and indexes:

  • The Dow closed up +68.35 points or +0.26% to 26,073.18
  • The S&P closed up +11.93 points or +0.41% at 2,891.77
  • The NASDAQ was up +44.41 points or +0.57% to 7,837.13

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Henry’omics:

Sector equities advanced on Thursday after Wednesday’s return to the upside overcoming Tuesday’s oversold condition following Monday’s neutral close post last Thursday and Friday’s gains.

Investors will be watching out for the release of China’s industrial production data for the month of May, set to be released later at 10:00 a.m. HK/SIN.

I do NOT trust this market especially as Q2/19 is coming to an end … soon!

 

Thursday’s advance/decline line scenario of 45 covered companies:  

  • The open was positive with the A/DL at 25/17, 1 flat and 2 acquired (AST & OSIR);
  • The mid-day was positive with an A/DL of 27/14 and 2 flats and 2 acquired;
  • The close was positive with an A/DL of 32/10 and 1 flat and 2 acquired;

 

Pre-open post: “new money, non; old money, leaving; trading money, da! Liquidity is still a delicate balance, it’s all about availability and activity.”

 

Pre-open indications: 4 HIT and 0 MISS

  • Applied Genetic Technologies (AGTC) closed up +$0.027 – hit;
  • BioLife Solutions (BLFS) closed up +$0.35 – hit;
  • bluebird bio (BLUE) closed up +$0.43 – hit;
  • ReNeuron (RENE.L) closed down -$2.50 – hit;

 

What’s happening in the share pricing casino?

Worst-performers (bottom 5) were:

  • Thursday: RENE.L (-$2.50), ONCE (-$0.60), IONS (-$0.56), RARE (-$0.17) and MESO (-$0.11);
  • Wednesday: RENE.L (-$12.500, BLUE (-$1.00), GBT (-$0.99), SAGE (-$0.87) and RARE (-$0.40);
  • Tuesday: QURE (-$9.01), SAGE (-$3.04), RARE (-$1.77), RGNX (-$1.61) and GBT (-$1.43);
  • Monday: RENE.L (-$25.00), ONCE (-$9.14), BLUE (-$8.12), SAGE (-$3.20) and GBT (-$2.71);

Posting gains (top 5) were:

  • Thursday: SAGE (+$7.11), BLUE (+$6.48) GBT (+$0.70), RGNX (+$2.58) and QURE (+$1.30);
  • Wednesday: QURE (+$3.94), BMRN (+$1.22), AXGN (+$1.18), IONS (+$1.08) and VCEL (+$0.83);
  • Tuesday: RENE.L (+$15.000, XON (+$0.45), BLUE (+$0.15), MESO (+$0.14) and ADRO (+$0.06);
  • Monday: CRSP (+$1.50), RARE (+$0.57), BMRN (+$0.470, BLCM (+$0.47) and ALNY (+$0.32);

 

Upside volume stats: 

  • Thursday: 7 out of the 32 upside had higher than the 3 month average volume;
  • Wednesday: 6 out of the 26 upside had higher than the 3 month average volume;
  • Tuesday: 3 out of the 7 upside had higher than the 3 month average volume;
  • Monday: 6 out of the 21 upside had higher than the 3 month average volume;

Downside volume stats:

  • Thursday: 2 out of the 10 downside had higher than the 3 month average volume;
  • Wednesday: 3 out of the 17 downside had higher than the 3 month average volume;
  • Tuesday: 11 out of the 32 downside had higher than the 3 month average volume;
  • Monday: 9 out of the 21 downside had higher than the 3 month average volume;

 

The week’s percentage (%) indicators: 

  • Thursday’s range of the 32 upside was +0.06% (BMRN) to +9% (BTX) while the 10 downside ranged from -0.29% (RARE) to -2.82% (PSTI);
  • Wednesday’s range of the 26 upside was +0.02% (CRSP) to +36.41% (HSGX +$0.08) while the 17 downside ranged from -0.15% (MESO) to -5.10% (RENE.L);
  • Tuesday’s range of the 7 upside was +0.13% (BLUE) to +10.6% (HSGX +$0.02) while the 32 downside ranged from -0.02% (BMRN) to -12.02% (QURE);
  • Monday’s range of the 21 upside was +0.35% (IONS) to +25.06% (ONVO +$0.11) while the 21 downside ranged from -0.63% (VYGR) to -9.80% (RENE.L);

1 flat – BSTG with 2 acquired (AST & OSIR) and the Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed

 

The iShares NASDAQ Biotechnology (IBB) indicator:

  • Thursday closed up +0.75%
  • Wednesday closed up +0.61%
  • Tuesday closed down -0.49%
  • Monday closed down -0.60%
  • Friday closed up +1.62%;
  • Last Thursday closed down -0.98%;

 

June’s sessions:

Thursday closed POSITIVE with 10 decliners, 32 advancers, 1 flat and 2 acquired (AST & OSIR);

Wednesday closed POSITIVE with 17 decliners, 26 advancers, 0 flats and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 32 decliners, 7 advancers, 4 flats and 2 acquired (AST & OSIR);

Monday closed NEUTRAL with 21 decliners, 21 advancers, 1 flat and 2 acquired (AST & OSIR);

Friday closed POSITIVE with 10 decliners, 31 advancers, 2 flats and 2 acquired (AST & OSIR);

Thursday closed NEGATIVE with 37 decliners, 5 advancers, 1 flat and 2 acquired (AST & OSIR);

Wednesday closed NEGATIVE with 24 decliners, 17 advancers, 2 flat and 2 acquired (AST & OSIR);

Tuesday closed POSITIVE with 10 decliners, 32 advancers, 1 flat and 2 acquired (AST & OSIR);

Monday closed POSITIVE with 17 decliners, 25 advancers, 1 flat and 2 acquired (AST & OSIR);

 

Q2/19 so far:

  • In May, there were 14 negative, 1 holiday and 8 positive closes;
  • In April, there has been 10 positive and 11 negative closes;

 

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.