October 18, 2019 9:17pm

Icarus was the son of Daedalus who to escape imprisonment flies by means of artificial wings but falls into the sea and drowns when the wax of his wings melts as he flies too near the sun

The lesson of Icarus is that you should heed the advice of RMi

In compiling my indication signals, I draw on logic, historical precedents, specific knowledge of the sector and its practices as to lessons learned.  It’s important for investors to identify and determine which indication is actually performance based.


 

While many talk about the shift in alternating sentiment, I monitor the pulse and focus of possible outcomes

 

 

The Dow closed DOWN -255.68 points (-0.95%), the S&P closed down -11.75 points (-0.39%) and the NASDAQ closed DOWN -67.31 points (-0.83%)

 

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

  • Friday the IBB closed DOWN -0.76% while the XBI closed DOWN -0.96%
  • Thursday the IBB closed up +0.68% while the XBI closed up +0.86%
  • Wednesday the IBB closed down -0.11% while the XBI closed down -0.13%
  • Tuesday the IBB closed up +1.84% while the XBI closed up +1.91%
  • Monday the IBB closed up +0.38% while the XBI closed down -0.18%

 

The advance/decline line scenario of 45 covered companies:  

  • Friday the close was negative with an A/D line of 7/33, 2 flats, 1 reversed merged (HSGX) and 2 acquired;
  • Thursday the close was positive with an A/D line of 25/17, 0 flat, 1 reversed merged (HSGX) and 2 acquired;
  • Wednesday the close was positive with an A/D line of 23/19, 0 flat, 1 reversed merged (HSGX) and 2 acquired;
  • Tuesday the close was positive with an A/D line of 32/9, 1 flat, 1 reversed merged (HSGX) and 2 acquired;
  • Monday the close was negative with an A/D line of 12/28, 2 flats, 1 reversed merged (HSGX) and 2 acquired;

 

Henry’omics:

The cell and gene therapy sector joined “Icarus” in plunging to the sea!

Friday’s losses also wiped out the Dow’s gains for the week … down -0.2%, the S&P 500 pulled back -0.4% and the NASDAQ slid 0.8%.

Optimism around Brexit also gave stocks a boost this week. The U.K. and European Union struck a long-awaited draft Brexit deal. British and EU officials reached the agreement after successive days of late-night talks and almost three years of tense discussions <CNBC>.

 

The title states my opinion which is based on facts!

 

Decliners:

  • Sage Therapeutics (SAGE -$4.90- after Thursday’s +$4.02, Wednesday’s -$3.45, Tuesday’s +$4.93, Monday’s -$1.22 and last Friday’s +$4.58);
  • bluebird bio (BLUE -$1.80 after Thursday’s -$0.29 and Wednesday’s +$2.07);
  • Global Blood therapeutics (GBT -$1.33 after Thursday’s +0.89);
  • Regenxbio (RGNX -$1.28 after Thursday’s +$0.64);
  • uniQure (QURE -$1.26 after Thursday’s +$0.71, Wednesday’s -$0.98 and Tuesday’s -$2.89);

Incliners:

  • ReNeuron (RENE.L +$11.50 after Thursday’s -$4.00, Wednesday’s +$14.00, Tuesday’s -$16,50, Monday’s -$24.50 and last Friday’s -$4.00;
  • Alnylam Pharmaceuticals (ALNY +$2.90);
  • BioMarin Pharmaceuticals (BMRN +$1.25);
  • Cesca therapeutics (KOOL +$0.12);
  • Caladrius Biosciences (CLBS +$0.05);

 

 

The percentage (%) indicators: 

  • Friday’s range of the 7 upside was +0.11% (STML) to +8.46% (RENE.L) while the 33 downside ranged from -0.19% (MDXG) to -1.05% (XON);

 

  • Thursday’s range of the 25 upside was +0.31% (ONVO) to +2.85% (SAGE) while the 17 downside ranged from -0.06% () to -6.16% (XON);

 

  • Wednesday’s range of the 23 upside was +0.20% (VCEL) to +11.11% (RENE.L) while the 19 downside ranged from -0.40% (NTLA) to -6.25% (IONS);

 

  • Tuesday’s range of the 32 upside was +0.27% (PSTI) to +8.36% (RGNX) while the 9 downside ranged from -0.12% (BLFS) to -19.74% (KOOL);

 

  • Monday’s range of the 12 upside was +0.22% (ALNY) to +15.12% (ADVM) while the 28 downside ranged from -0.09% (GBT) to -14.67% (RENE.L);

 

 

Upside volume stats:  to compare

  • Friday: 3 out of the 7 upside had higher than the 3 month average volume;
  • Thursday: 3  out of the 25 upside had higher than the 3 month average volume;
  • Wednesday: 2  out of the 23 upside had higher than the 3 month average volume;
  • Tuesday: 4  out of the 32 upside had higher than the 3 month average volume;
  • Monday: 3  out of the 12 upside had higher than the 3 month average volume;

Downside volume stats:

  • Friday: 9 out of the 33 downside had higher than the 3 month average volume;
  • Thursday: 5 out of the 17 downside had higher than the 3 month average volume;
  • Wednesday: 3 out of the 19 downside had higher than the 3 month average volume;
  • Tuesday: 3 out of the 9 downside had higher than the 3 month average volume;
  • Monday: 2 out of the 28 downside had higher than the 3 month average volume;

 

2 flat – CRSP and VSTM with 1 reverse merged (HSGX), 2 acquired (AST & OSIR) and Spark Therapeutics’ (ONCE) acquisition by Roche is still being delayed (October?)

 

October’s sessions:

Friday closed NEGATIVE with 33 decliners, 7 advancers, 2 flats, 1 reverse merged (HSGX) and 2 acquired (AST & OSIR);

Thursday closed POSITIVE with 17 decliners, 25 advancers, 0 flat, 1 reverse merged (HSGX) and 2 acquired (AST & OSIR);

Wednesday closed POSITIVE with 19 decliners, 23 advancers, 0 flat, 1 reverse merged (HSGX) and 2 acquired (AST & OSIR);

Tuesday closed POSITIVE with 9 decliners, 32 advancers, 1 flat, 1 reverse merged (HSGX) and 2 acquired (AST & OSIR);

Monday closed NEGATIVE with 29 decliners, 12 advancers, 1 flat, 1 reverse merged (HSGX) and 2 acquired (AST & OSIR);

Friday closed POSITIVE with 13 decliners, 29 advancers, 0 flat, 1 reverse merged (HSGX) and 2 acquired (AST & OSIR);

Thursday closed POSITIVE with 17 decliners, 23 advancers, 2 flats, 1 reverse merged (HSGX) and 2 acquired (AST & OSIR);

Wednesday closed NEGATIVE with 27 decliners, 12 advancers, 3 flats, 1 reverse merged (HSGX) and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 38 decliners, 4 advancers, 1 flat and 1 reverse merged (HSGX), 2 acquired (AST & OSIR);

Monday closed NEGATIVE with 25 decliners, 17 advancers, 1 flat and 2 acquired (AST & OSIR);

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.