July 19, 2019 8:16pm

Volume was low, the IBB closed DOWN -1.47% while the XBI closed DOWN -1.36% with the NASDAQ -0.74% as the Advance/Decline (A/D) line deteriorated to 4/38, 1 flat and 2 acquired

It’s not hard to be right so often, it’s about refining expectation, defining insight and trusting your “gut” versus the machines or algorithms

 

One can analyze a company as a good or bad investment however, some CEOs try to frame a reality versus some version of the truth and their actions will catch-up and bite their share price deterring forward motion. Me, I speak out and sharpen a stick to “poke” the truth into conviction!

 

Markets and indexes:

  • Friday, the Dow closed down -68.77 points or -0.25% to 27,154.20;
  • Thursday, the Dow closed barely up +3.12 points or +0.01% to 27,222.97;
  • Wednesday, the Dow closed down -115.78 points or -0.42% to 27,219.85
  • Tuesday, the Dow closed down -23.53 points or -0.09% to 27,335.63
  • Monday, the Dow closed up +27.13 points or +0.10% to 27,359.16;

 

  • Friday, the S&P closed down -18.50  points or -0.62% at 2,976.61;
  • Thursday, the S&P closed up +10.69  points or +0.36% at 2,995.11;
  • Wednesday, the S&P closed down -19.62 points or -0.65% at 2,984.42;
  • Tuesday, the S&P closed down -10.25 points or -0.34% at 3,004.04;
  • The S&P closed up +0.53 points or +0.02% at 3,014.30

 

  • Friday, the NASDAQ was down -60.75 or -0.74% to 8,146.49;
  • Thursday, the NASDAQ was up +22.04 or +0.27% to 8,207.24;
  • Wednesday, the NASDAQ was down -37.59 or -0.46% to 8,185.21
  • Tuesday, the NASDAQ was down -35.29 or -0.43% to 8222.80
  • Monday, the NASDAQ was up +14.04 or +0.17% to 8258.18

 

Henry’omics:

from the morning's newsletter, "the upside is heading to be overbought".

I also wrote of companies in my headlights – It’s your decision; I provide an idea and context ...

  • NONE today … let ‘em ride but, caution is my byword!

 

The sector of my covered companies jumped as the overbought were slammed while the accountants start or finish their review of Q2 results which should start appearing on 8/1.

Indexes fell on Friday following a report that the Fed’s plans to cut interest rates by only a quarter-percentage point at the end of the month.

And then there were ... option expiration accentuating the sell-off …

 

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

  • The open was negative with an A/D (A/D) line of 16/26 with 1 flat and 2 acquired;
  • The mid-day was negative with an A/D Line of 12/28 with 3 flats and 2 acquired;
  • The close was negative with an A/D Line of 4/38 and 1 flat and 2 acquired;

 

The percentage (%) indicators: 

  • Friday’s range of the 4 upside was +1.14% (PSTI) to +3.30% (BLFS) while the 38 downside ranged from -0.13% (CLLS) to -30.59% (CUR);
  • Thursday’s range of the 27 upside was +0.40% (XON) to +6.71% (VSTM) while the 14 downside ranged from -0.07% (CLLS) to -10.18% (ADVM);
  • Wednesday’s range of the 23 upside was +0.12% (BMRN) to +17.92% (CUR after a 1 for 20 reverse +$0.0632) while the 20 downside ranged from -0.15% (VCEL) to -4.49% (ONVO);
  • Tuesday’s range of the 15 upside was +0.14% (KOOL) to +8.32% (CUR) while the 27 downside ranged from -0.06% (QURE) to -4.43% (BCLI);
  • Monday’s range of the 26 upside was +0.12% (RARE) to +11.79% (CLBS) while the 15 downside ranged from -0.05% (ONCE) to -4.88% ();

 

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Friday the IBB closed DOWN -1.47% while the XBI closed DOWN -1.36%
  • Thursday the IBB closed UP +0.82% while the XBI closed UP +1.46%
  • Wednesday the IBB closed up +0.19% while the XBI closed up +0.05%
  • Tuesday the IBB closed down -0.58% while the XBI closed down -0.84%
  • Monday the IBB closed up +0.53% while the XBI also closed up +0.36%

 

Leading decliners were:

  • ReNeuron (RENE.L  _$6.00 after Thursday’s -$13.50, Wednesday’s+$12.50 and Tuesday’s +$7.50);
  • Bluebird bio (BLUE -$3.13);
  • Neuralstem (CUR -$2.60);
  • Vericel (VCEL -$0.27);
  • Brainstorm Cell Therapeutics (BCLI -$0.14);

Friday’s incliners:

  • BioLife Solutions (+$0.56);
  • Caladrius Biosciences (CLBS +$0.09 after Thursday’s -$0.12)
  • Adverum Biotechnologies (ADVM +$0.20 after Thursday’s -$1.56, Wednesday’s -$0,56 and Tuesday’s +$0.43);
  • Pluristem (PSTI +$0.0068);
  • uniQure (QURE -$2.22 after Thursday’s +$2.15 and Wednesday’s +$2.83);

 

Upside volume stats:  to compare

  • Friday: 2 out of the 4 upside had higher than the 3 month average volume;
  • Thursday: 2 out of the 27 upside had higher than the 3 month average volume;
  • Wednesday: 5 out of the 23 upside had higher than the 3 month average volume;
  • Tuesday: 4 out of the 15 upside had higher than the 3 month average volume;
  • Monday: 3 out of the 26 upside had higher than the 3 month average volume;

Downside volume stats: NOTICE

  • Friday: 7 out of the 38 downside had higher than the 3 month average volume;
  • Thursday: 4 out of the 14 downside had higher than the 3 month average volume;
  • Wednesday: 1 out of the 20 downside had higher than the 3 month average volume;
  • Tuesday: 3 out of the 27 downside had higher than the 3 month average volume;
  • Monday: 3 out of the 15 downside had higher than the 3 month average volume;

 

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

 

July’s sessions and the beginning of Q3:

Friday closed NEGATIVE with 38 decliners, 4 advancers, 1 flat and 2 acquired (AST & OSIR);

Thursday closed POSITIVE with 14 decliners, 27 advancers, 2 flat and 2 acquired (AST & OSIR);

Wednesday closed POSITIVE with 20 decliners, 23 advancers, 0 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 27 decliners, 15 advancers, 1 flat and 2 acquired (AST & OSIR);

Monday closed POSITIVE with 15 decliners, 26 advancers, 2 flats and 2 acquired (AST & OSIR);

Friday closed NEGATIVE with 22 decliners, 21 advancers, 0 flats and 2 acquired (AST & OSIR);

Thursday closed NEGATIVE with 26 decliners, 14 advancers, 3 flats and 2 acquired (AST & OSIR);

Wednesday closed POSITIVE with 25 decliners, 16 advancers, 2 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 29 decliners, 13 advancers, 1 flat and 2 acquired (AST & OSIR);

Monday closed NEGATIVE with 24 decliners, 18 advancers, 1 flat and 2 acquired (AST & OSIR);

Friday closed NEGATIVE with 23 decliners, 19 advancers, 1 flat and 2 acquired (AST & OSIR);

Thursday was a holiday;

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

Tuesday closed NEGATIVE with 30 decliners, 11 advancers, 2 flat and 2 acquired (AST & OSIR);

Monday closed NEGATIVE with 23 decliners, 19 advancers, 1 flat and 2 acquired (AST & OSIR);

 

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.