August 28, 2019 6:32pm

Many rides are enticing however; investors wanted the one we would not fall off

So, traders strapped investors into the rollercoaster to feel the upside and heights of the sector and not worry about the portfolios

A firm seat with traders locking the grip bar with no sliding is better than none – they’re on our side today

The sector and overall stock market consistently rises and falls with alternating volatility and involuntary momentum contractions which I call “spasms”

 

As the cell and gene therapy sector runs out of buyers, it runs into trouble (just like a fire that runs out of wood).

 

Markets and indexes:

  • The Dow closed up +246.69 points or +0.96% to 26,024.59;
  • The S&P closed up +18.78 points or +0.65% at 2,887.94;
  • The NASDAQ was up +29.94 or +0.38% to 7,856.58;

 

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

  • Wednesday the IBB closed up +0.65% while the XBI also closed up +1.44%
  • Tuesday the IBB closed down -0.91% while the XBI also closed down -1.60%
  • Monday the IBB closed up +0.73% while the XBI also closed +0.96%

 

Henry’omics:

Sector equities rose on Wednesday as markets got a lift from trader and machines recognized fallen cell and gene therapy pricing, but sentiment was kept in check with a key part of the U.S. yield curve inverting even further, exacerbating fears of an impending recession.

Traders more that investors – who are still in shell shocked were both closely monitoring trade developments between the world’s two largest economies. The ongoing U.S.-China trade dispute has placed an increasing strain on the global economy, prompting policymakers to respond with interest rate cuts and stimulus measures to bolster growth.

The Dow, S&P 500 and NASDAQ were all down at least 3% for the month through today’s … Wednesday’s close.

However, trading volumes have been kept in check ahead of the U.S. Labor Day holiday on Monday.

After today’s upside ride, many will ruin to the long weekend to avoid the rush from the stock market grind!

 

The advance/decline line scenario of 45 covered companies:  

  • Wednesday the close was positive with an A/D Line of 30/13 and 0 flat and 2 acquired;
  • Tuesday the close was negative with an A/D Line of 8/33 and 2 flat and 2 acquired;
  • Monday the close was positive with an A/D Line of 22/20 and 1 flat and 2 acquired;

 

Decliners:

  • Ionis Pharmaceuticals (IONS -$1.94);
  • BioMarin Pharmaceuticals (BMRN -$0.99);
  • Biostage (BSTG -$0.35);
  • Spark Therapeutics (ONCE -$0.20 after Tuesday’s +$0.37 after Monday’s -1.53);
  • MiMedx (MDXG -$0.16)

Incliners:

  • bluebird bio (BLUE +$2.89 after Tuesday’s -$3.00 and Monday’s -$1.53);
  • Ultragenyx (RARE +$2.49 after Tuesday’s  -$3.72 and Monday’s -$1.07);
  • Sage Therapeutics (SAGE +$1.62 after Tuesday’s -$2.54);
  • ReNeuron (RENE.L +$1.50 after Tuesday’s +$1.50);
  • Global Blood therapeutics (GBT +$1.53 after Tuesday’s -$1.78 and Monday’s +$1.77);

 

The percentage (%) indicators: 

  • Wednesday’s range of the 30 upside was +0.13% (ALNY) to +10.38% (CUR) while the 13 downside ranged from -0.20% (ONCE) to -13.46% (BSTG);
  • Tuesday’s range of the 8 upside was +0.37% (ONCE) to +5.88% (BLCM) while the 33 downside ranged from -0.04% (ALNY) to -7.86% (ONVO);
  • Monday’s range of the 22 upside was +0.02% (QURE) to +19.98% (BLCM) while the 20 downside ranged from -0.20% (VYGR) to -7.08% (Lineage Cell Therapeutics formerly BioTime (NYSEMKT :BTX);

 

Upside volume stats:  to compare

  • Wednesday: 4 out of the 30 upside had higher than the 3 month average volume;
  • Tuesday: 2 out of the 8 upside had higher than the 3 month average volume;
  • Monday: 4 out of the 22 upside had higher than the 3 month average volume;

Downside volume stats: NOTICE

  • Wednesday: 2 out of the 13 downside had higher than the 3 month average volume;
  • Tuesday: 8 out of the 33 downside had higher than the 3 month average volume;
  • Monday: 2 out of the 20 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:

Wednesday closed POSITIVE with 13 decliners, 30 advancers, 0 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 33 decliners, 8 advancers, 2 flat and 2 acquired (AST & OSIR);

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

Friday closed NEGATIVE with 34 decliners, 7advancers, 2 flat and 2 acquired (AST & OSIR);

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

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

Tuesday closed NEGATIVE with 32 decliners, 11 advancers, 0 flat and 2 acquired (AST & OSIR);

Monday closed POSITIVE with 6 decliners, 36 advancers, 1 flat and 2 acquired (AST & OSIR);

Friday closed POSITIVE with 3 decliners, 39 advancers, 1 flat and 2 acquired (AST & OSIR);

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.