November 4, 2019 5:29pm
Monday, the sector swooned after Friday’s rocketing on first day of month
The “tourist” trade is in full swing pre the four (4) earnings hit the news wire tomorrow with a full complement for the week
Does the accuracy of estimates, forecasts and “runways” really set you off – selling frenzies are on the horizon?
It’s also better in small doses in the earnings’ quagmire, it takes a day or max a week to clean the downside muck of your sector "wading" boots!
The Dow closed UP +101.02 points (+0.37%), the S&P closed UP +11.41 points (+0.37 %) and the NASDAQ closed UP +46.80 points (+0.56%)
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Monday the IBB closed down -0.35% while the XBI closed down -0.53%
- Friday the IBB closed up +2.34% while the XBI closed up +2.49%
The advance/decline line scenario of 45 covered companies:
- Monday the close was negative with an A/D line of 18/22, 2 flats, 1 reversed merged (HSGX) and 2 acquired;
- Friday the close was positive with an A/D line of 33/7, 2 flats, 1 reversed merged (HSGX) and 2 acquired;
Investor sentiment was lifted by a rebound in economic data and a potential U.S.-China trade deal as “our’ universe experienced many misses in per-share losses and revenue misses.
The Dow reached a milestone on Monday, joining the S&P 500 and NASDAQ at record levels, as today’s rise brought the Dow’s year-to-date gain to nearly 18%. That would be the biggest one-year gain for the Dow since 2017, when it jumped 28.2%. The S&P 500 is up more than 22% for 2019 and is on pace for its biggest one-year gain since 2013, when it rallied nearly 30%. The NASDAQ is also up more than 27% this year.
Get ready to dig in your portfolio "heels"; is it time to EXIT some equities, so maybe one can come back or be on the lookout for a better "ride"!
- CRISPR Therapeutics (CRSP -$2.12)
- uniQure NV (QURE -$1.54);
- Audentes Therapeutics (BOLD -$1.10 after Friday’s +$2.16);
- Voyager Therapeutics (VYGR -$1.07);
- Intellia (NTLA -$0.84);
- Alnylam Pharmaceuticals (ALNY +$0.88 after Friday’s +$4.27);
- AxoGen (AXGN +$0.56);
- Regenxbio (RGNX +$0.55);
- ThermoGenesis Holdings <Formerly Cesca Therapeutics> (KOOL +$0.35);
- bluebird bio (BLUE +$0.35 after Friday’s +$1.86 and Thursday’s -$2,19);
The percentage (%) indicators:
- Monday’s range of the 18 upside was +0.09% (ONCE) to +19.63% (BLCM) while the 29 downside ranged from -0.07% (BMRN) to -16.94% (CUR);
- Friday’s range of the 33 upside was +0.57% (BMRN) to +30.39% (BLCM +$0.24) while the 7 downside ranged from -0.66% (AGTC) to -3.04% (FIXX);
Upside volume stats: to compare
- Monday: 1 out of the 19 upside had higher than the 3 month average volume;
- Friday: 8 out of the 33 upside had higher than the 3 month average volume;
Downside volume stats:
- Monday: 1 out of the 22 downside had higher than the 3 month average volume;
- Friday: 3 out of the 7 downside had higher than the 3 month average volume;
2 flat – RENE.L and FATE with 1 reverse merged (HSGX), 2 acquired (AST & OSIR) and Spark Therapeutics’ (ONCE) acquisition by Roche could be soon according to rumors from FTC by year’s end.
Monday closed NEGATIVE with19 decliners, 22 advancers, 1 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Friday closed POSITIVE with 7 decliners, 33 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
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.