July 23, 2019 6:20pm
All about volatility, uncertainty or risk related to the size of changes in a security's value
Which is unpredictable and has a tendency of evaporation or an appearance
Pre-open indications: 2 HITs and 2 MISS
Dispersion is, until it isn’t and even then it just swings…
Many sector equities are considered havens of risk because pricing is even less predictable
Markets and indexes:
- The Dow closed up +177.29 points or +0.65% to 27,349.19;
- The S&P closed up +20.44 points or +0.68% at 3,005.47;
- The NASDAQ was up +47.27 or +0.58% to 8,251.40;
Henry’omics:
My covered companies in the RegMed universe got hammered yet again after a positive Monday close – traders and machines are “skimming” any upside … whenever they can pre quarterly results beginning.
Markets rose Tuesday on news that face-to-face talks between U.S. and Chinese trade negotiators would begin next week. A batch of stronger-than-expected earnings also lifted investor sentiment <CNBC>.
Trade has been holding down stocks. If we're able to resolve it, you'll see a pickup in global growth.
Pre-open post, “another mild tailwind to push the sector’s slow incline while volume continues low; what more is to say, it’s not quite our “earnings” time!”
An indicator, Biogen (BIIB) reported better-than-expected earnings, sending its stock up 4.9% but, it’s NOT the whole story – as many question the future of its pipeline.
Tuesday’s advance/decline line scenario of 45 covered companies:
- The open was negative with an A/D (A/D) line of 12/29 with 3 flat and 2 acquired;
- The mid-day was negative with an A/D Line of 16/26 with 1 flat and 2 acquired;
- The close was negative with an A/D Line of 19/23 and 1 flat and 2 acquired;
Pre-open indications: 2 HITs and 2 MISS
- Applied Genetic Technologies (AGTC) closed up +$0.14 – hit;
- uniQure (QURE) closed down -$2.28 – miss;
- ReNeuron (RENE.L) closed up +$7.50 – hit;
- BioLife Solutions (BLFS) closed up +40.38 – miss;
The percentage (%) indicators:
- Tuesday’s range of the 19 upside was +0.05% (VCEL) to +4.15% (XON) while the 23 downside ranged from -0.30% (HSGX) to -8.12% (KOOL);
- 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);
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Tuesday the IBB closed UP +0.26% while the XBI closed down -0.68%
- Monday the IBB closed UP +0.23% while the XBI closed UP +0.34%
Leading decliners were:
- IONS Pharmaceuticals (IONS -$4.92 on big volume (3.5 M shares compared to 3 month average 1.33 M)
- Ultragenyx Pharmaceuticals (RARE -$2.79);
- uniQure (QURE -$2.46 after Monday’s -$1.45 and Friday’s -$2.22);
- Regenxbio (RGNX -$1.53 after Monday’s +$1.46);
- Sage Therapeutics (SAGE -$1.04 after Monday’s -$1.39);
Tuesday’s incliners:
- ReNeuron (RENE.L +$7.50 after Monday’s -$10.50 and Friday’s -$6.00;
- Editas Medicine (EDIT +$0.60);
- Alnylam Pharmaceuticals (ALNY +$0.51);
- bluebird bio (BLUE +$0.48 after Monday’s +$1.74 and Friday’s -$3.13);
- BioLife Solutions (+$0.47 after Monday’s +$1.29 and Friday’s +$0.56);
Upside volume stats: to compare
- Tuesday: 2 out of the 19 upside had higher than the 3 month average volume;
- Monday: 4 out of the 24 upside had higher than the 3 month average volume;
Downside volume stats: NOTICE
- Tuesday: 8 out of the 24 downside had higher than the 3 month average volume;
- Monday: 2 out of the 17 downside had higher than the 3 month average volume;
1 flat – AXGN with 2 acquired (AST & OSIR) and the Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed
July’s sessions and the beginning of Q3:
Tuesday closed NEGATIVE with 23 decliners, 19 advancers, 1 flat and 2 acquired (AST & OSIR);
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.
