August 15, 2019 8:26pm

I felt nothing Thursday but, pain in share pricing

With the sector in confusion as to value initiatives, we are dependent on machines and algorithms

The Strange Case of Dr. Jekyll and Mr. Hyde might make for a great read, but it’s far less fun when the sector act like it’s their blueprint. Stocks have lately been alternating between the horrific and the benign.

 

Investors need to think about their buying or selling pace, momentum while anticipating resistance and consider covering positions

 

Markets and indexes:

  • The Dow closed up +99.97 points or +0.39 % to 25,579.39;
  • The S&P closed up +7 points or +0.25% at 2,847.60;
  • The NASDAQ was down -7.32 or -0.09% to 7,766.62;

 

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

  • Thursday the IBB closed down -0.34% while the XBI closed down -1.19%
  • Wednesday the IBB closed down -2.23% while the XBI closed down -2.82%
  • Tuesday the IBB closed up +1.22% while the XBI closed up +1.38%
  • Monday the IBB closed down -1.25 % while the XBI closed down -1.88%

 

Henry’omics:

Another session of sector pain …

 

Pre-open post, “the sell-off continues; it’s been a volatile week for stock investors but; I see the sector’s oversold being recognized; yesterday with 33 of my “covered” 45 being down and Monday and Friday closing negative … I’d be dipping my “toe” in these markets; even if I lose money, in a week I’ll be rewarded.”

 

The advance/decline line scenario of 45 covered companies:  

  • Thursday the close was negative with an A/D Line of 15/28 and 0 flat and 2 acquired;
  • Wednesday the close was negative with an A/D Line of 9/33 and 1 flat and 2 acquired;
  • Tuesday the close was positive with an A/D Line of 22/20 and 1 flat and 2 acquired;
  • Monday the close was negative with an A/D Line of 13/29 and 1 flat and 2 acquired;

 

Decliners:

  • ReNeuron RENE.L -$10.50 after Wednesday’s+$1.50, Tuesday’s-$9.00 and Monday’s +$11.00);
  • Ultragenyx (RARE -$2.82 after Wednesday’s -$1.47);
  • Sage Therapeutics (SAGE -$1.70 after Wednesday’s -$2.85);
  • Global Blood Therapeutics (-$1.46);
  • Regenxbio (RGNX -$1.17);

Incliners:

  • Spark Therapeutics (SAGE +$1.29);
  • bluebird bio (BLUE +$1.26 after Wednesday’s -$3.09);
  • BioLife Solutions (BLFS +$1.18);
  • Ionis Pharmaceuticals (IONS +$0.55);
  • Editas Medicine (EDIT +$0.27 after Wednesday’s +$0.50)

 

The percentage (%) indicators: 

  • Thursday’s range of the 15 upside was +0.03% (BMRN) to +6.63% (BLFS) while the 28 downside ranged from -0.27% BCLI) to -13.54% (AGTC);
  • Wednesday’s range of the 9 upside was +0.06% (BOLD) to +23.79% (SLDB +$1.23) while the 33 downside ranged from -0.10% (ONCE) to -7.57% (CLLS);
  • Tuesday’s range of the 22 upside was +0.14% (BLUE) to +8.70% (KOOL +$0.24) while the 20 downside ranged from -0.08% (CLLS) to -11.02% (SLDB);
  • Monday’s range of the 13 upside was +0.12% (GBT) to +19.19% (AXGN) while the 29 downside ranged from -0.56% (IONS) to -8.82% (PSTI);

 

Upside volume stats:  to compare

  • Thursday: 3 out of the 15 upside had higher than the 3 month average volume;
  • Wednesday: 3 out of the 9 upside had higher than the 3 month average volume;
  • Tuesday: 5 out of the 22 upside had higher than the 3 month average volume;
  • Monday: 7 out of the 13 upside had higher than the 3 month average volume;

Downside volume stats: NOTICE

  • Thursday: 8 out of the 28 downside had higher than the 3 month average volume;
  • Wednesday: 9 out of the 33 downside had higher than the 3 month average volume;
  • Tuesday: 3 out of the 20 downside had higher than the 3 month average volume;
  • Monday: 7 out of the 29 downside had higher than the 3 month average volume;

 

0 flat – with 2 acquired (AST & OSIR) with the Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed (SEPTEMBER?)

 

August’s sessions:

Thursday closed NEGATIVE with 28 decliners, 14 advancers, 1 flat and 2 acquired (AST & OSIR);

Wednesday closed NEGATIVE with 33 decliners, 9 advancers, 1 flat and 2 acquired (AST & OSIR);

Tuesday closed POSITIVE with 20 decliners, 22 advancers, 1 flat and 2 acquired (AST & OSIR);

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

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

Thursday closed POSITIVE with 11 decliners, 28 advancers, 2 flats and 2 acquired (AST & OSIR);

Wednesday closed NEGATIVE with 21 decliners, 19 advancers, 3 flats and 2 acquired (AST & OSIR);

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

Monday closed NEGATIVE with 41 decliners, 2 advancers, 0 flat and 2 acquired (AST & OSIR);

Friday closed NEGATIVE with 34 decliners, 8 advancers, 1 flat and 2 acquired (AST & OSIR);

Thursday closed POSITIVE with 19 decliners, 22 advancers, 2 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.