October 5, 2019 3:01pm

The jobs report was solid enough to dampen recession fears but, as I had forecasted “mundane”

The week’s “numbers” in review

I make a commitment to provide need-to-know “facts in evidence” as equity’s volatility is one tactical signal for stocks.

 

There are a variety of end uses to sector forecasts; the most prominent, they are used to protect your portfolio’s life and value.

 

The Dow closed up +372.68 (+1.42%), the S&P closed up 41.38 (+1.42%) and the NASDAQ closed up +110.21 (+1.40%)

 

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

  • Friday the IBB closed up +0.74% while the XBI closed up +0.16%
  • Thursday the IBB closed up +1.55% while the XBI closed up +1.51%
  • Wednesday the IBB closed down -0.78% while the XBI closed up +0.68%
  • Tuesday the IBB closed down -1.50% while the XBI closed down -1.64%
  • Monday the IBB closed up +0.20% while the XBI closed down -0.21%

 

Henry’omics:

Sector equities and indexes closed higher on Friday as the market moved by the latest U.S. jobs report cleared the way for traders  to hustle the oversold for  … as I call it … recognition.

For the week, however, the Dow and S&P 500 posted a third straight decline. The NASDAQ rose about 0.5% week to date.

Friday’s gains cut into the Dow and S&P 500′s weekly losses, but the two indexes still fell for a third straight week. The Dow and S&P 500 both lost at least 0.3% week to date.

 

The sector feels very fragile to me as quarterly reporting begins to be formulated.

The sector has been operating under the assumption that investors felt it would bounce back after being so oversold however; hope of a cure is NOT motivating share price appreciation these days as Q4 slowly evolves.

Multiple political and international circumstances have enhanced weekly market shakedowns.

 

The advance/decline line scenario of 45 covered companies:  

  • Friday the close was positive with an A/D line of 24/17. 2 flats and 2 acquired;
  • Thursday the close was neutral with an A/D line of 21/21, 1 flat and 2 acquired;
  • Wednesday the close was negative with an A/D line of 18/22, 3 flats and 2 acquired;
  • Tuesday the close was negative with an A/D line of 5/36, 2 flats and 2 acquired;
  • Monday the close was positive with an A/D line of 21/19, 3 flats and 2 acquired;

 

Decliners:

  • Sage Therapeutics (SAGE -$1.13 after Thursday’s +$5.00 , Wednesday’s +$1.25, Tuesday’s -$4.01 and Monday’s -$2.46);
  • Global Blood Therapeutics (GBT -$0.92 after Thursday’s +1.58);
  • Homology Medicine (FIXX -$0.81);
  • BioLife solutions (BLFS -$0.62);
  • Solid biosciences (SLDB -$0.34);

Incliners:

  • ReNeuron (RENE.L +$14.50 after Thursday’s -$38.00, Wednesday’s -$64.00, Tuesday’s -$20.00 and Monday’s +$17.50);
  • bluebird bio (BLUE +$3.39 after Thursday’s -$0.96, Wednesday’s -$0.57,Tuesday’s -$4.80 and Monday’s -$0.99);
  • uniQure (QURE +$1.89 after Thursday’s +$3.11);
  • BioMarin Pharmaceuticals (BMRN +$1.09);

 

The percentage (%) indicators: 

  • Friday’s range of the 24 upside was +0.14% (IONS) to +8.63% (RENE.L) while the 17 downside ranged from -0.41% (PSTI) to -7.62% (ONVO);
  • Thursday’s range of the 21 upside was +0.17% (NTLA) to +8.93% (VSTM) while the 21 downside ranged from -0.35% (SGMO) to -18.45% (RENE.L);
  • Wednesday’s range of the 18 upside was +0.35% (SGMO) to +7.78% (XON) while the 22 downside ranged from -0.21% (ONCE) to -23.70% (RENE.L);
  • Tuesday’s range of the 5 upside was +1.20% (CUR) to +8% (RENE.L) while the 36 downside ranged from -0.13% (ONCE) to -9.62% (BSTG);
  • Monday’s range of the 21 upside was +0.22% (FIXX) to +7.53% (RENE.L) while the 20 downside ranged from -0.43% (QURE) to -30.65% (HSGX);

 

Upside volume stats:  to compare

  • Friday: 7 out of the 24 upside had higher than the 3 month average volume
  • Thursday: 4 out of the 21 upside had higher than the 3 month average volume
  • Wednesday: 8 out of the 18 upside had higher than the 3 month average volume
  • Tuesday: 3 out of the 5 upside had higher than the 3 month average volume;
  • Monday: 9 out of the 21 upside had higher than the 3 month average volume;

Downside volume stats:

  • Friday: 3 out of the 17 downside had higher than the 3 month average volume;
  • Thursday: 9 out of the 21 downside had higher than the 3 month average volume;
  • Wednesday: 15 out of the 22 downside had higher than the 3 month average volume;
  • Tuesday: 19 out of the 36 downside had higher than the 3 month average volume;
  • Monday: 4 out of the 19 downside had higher than the 3 month average volume;

 

2 flat – BSTG and MDXG with 2 acquired (AST & OSIR) and Spark Therapeutics’ (ONCE) acquisition by Roche is still being delayed (October?)

 

October’s sessions:

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

Thursday closed NEUTRAL with 21 decliners, 21 advancers, 1 flat and 2 acquired (AST & OSIR);

Wednesday closed NEGATIVE with 22 decliners, 18 advancers, 3 flats and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 36 decliners, 5 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.