July 22, 2019 6:43pm

The IBB closed up +0.23%, the XBI closed up +0.34% while the NASDAQ rose +0.71%

As I had stated, “Friday’s tin could be today’s gold after a 38 of 45 “covered” companies declined!’

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

 

The sector is what it is, until it isn’t and even then it doesn’t seem to be … when you point one finger, there are three fingers pointing back at you!

 

Markets and indexes:

  • The Dow closed up +4.25 points or +0.02% to 27,158.45;
  • The S&P closed up +8.42 points or +0.28% at 2,985.03;
  • The NASDAQ was up +57.65 or +0.71% to 8,204.14;

 

Henry’omics:

Sector equities rose on Monday as the oversold belted their way upward as the “Street” kicked off a big week of earnings … our universe doesn’t begin until 8/1, so far!

In reference to my covered “45”; my enthusiasm is a muted because growth could be flat to negative!

Equities struggled last week, posting their biggest weekly decline since May as investors digested the first batch of corporate earnings reports and signals on potential Fed policy moves.

 

Pre-open post, “a no news sector; speculation is rife even earlier to Q2 reporting although, Friday’s tin could be today’s gold after a 38 of 45 “covered” companies declined!”

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

  • The open was neutral with an A/D (A/D) line of 20/20 with 3 flat and 2 acquired;
  • The mid-day was positive with an A/D Line of 23/17 with 2 flats and 2 acquired;
  • The close was positive with an A/D Line of 24/17 and 2 flats and 2 acquired;

 

The percentage (%) indicators: 

  • Monday’s range of the 24 upside was +0.04% (BMRN) to +7.36% (BLFS) while the 17 downside ranged from -0.10% (HSGX) to -6.34% (ADRO);
  • 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);

 

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

  • Monday the IBB closed UP +0.23% while the XBI closed UP +0.34%
  • Friday the IBB closed DOWN -1.47% while the XBI closed DOWN -1.36%

 

Leading decliners were:

  • ReNeuron (RENE.L  -$10.50 after Friday’s -$6.00;
  • Sage Therapeutics (SAGE -$1.39);
  • uniQure (QURE -$1.45 after Friday’s -$2.22);
  • Neuralstem (CUR -$1.05 after Friday’s -$2.60);
  • AxoGen (AXGN -$0.60)

Monday’s incliners:

  • bluebird bio (BLUE +$1.74 after Friday’s -$3.13);
  • Regenxbio (RGNX +$1.46);
  • Homology Medicine (FIXX +$1.33);
  • BioLife Solutions (+$1.29 after Friday’s +$0.56);
  • Fate Therapeutics (FATE +$1.11)

 

Upside volume stats:  to compare

  • Monday: 4 out of the 24 upside had higher than the 3 month average volume;

Downside volume stats: NOTICE

  • Monday: 2 out of the 17 downside had higher than the 3 month average volume;

 

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

 

July’s sessions and the beginning of Q3:

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

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.