November 26, 2019 6:53pm

As the Advance/Decline (A/D) line slips and the IBB and XBI slurps

Pre-open indications: 3 HITs

In the short run, values can be pretty senseless if one side or the other decides to be aggressive in their buying or selling.

 

Framing the main takeaway … pricing, volume and machine trading creates volatility and liquidity!

 

The Dow closed UP +55.14 (+0.2%), the S&P closed UP +6.88 points (+0.22%) and the NASDAQ closed up +15.44 points (+0.18%)

 

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

  • Tuesday the IBB closed up +0.23% while the XBI closed up +0.14%
  • Monday the IBB closed up +2.84% while the XBI closed up +3.75%
  • Friday the IBB closed up +1.11% while the XBI closed up +0.51%

 

The advance/decline line scenario of 45 covered companies:

  • Tuesday the close was positive with an A/D line of 23/19, 0 flat, 1 reversed merged (HSGX) and 2 acquired;
  • Monday the close was positive with an A/D line of 34/8, 0 flat, 1 reversed merged (HSGX) and 2 acquired;
  • Friday the close was positive with an A/D line of 27/14, 1 flat, 1 reversed merged (HSGX) and 2 acquired;

 

Henry’omics:

“Our” universe of cell and gene therapy companies … luckily closed up as the Advance/Decline (A/D) line slipping as the holiday advances our exit to a shortened week.

Tuesday’s moves built on the previous session’s rally that was sparked by optimism around the U.S.-China trade talks.

From this a.m.’s “Data Docket”, the S&P Case-Shiller index showed home price gains accelerated in September, gaining 3.2% annually. Consumer confidence dipped slightly in November, data from the Conference Board showed.

 

I keep saying... it (the upside) won't last as sustainability is not included in algorithmic "rules"!

Take profits while one can ...!

 

Decliners:

  • Sage Therapeutics (SAGE -$1.86 after Monday’s +$3.05 and Friday’s -$2.78);
  • BioMarin Pharmaceuticals (BMRN -$1.36);
  • Audentes Therapeutics (BOLD -$0.63);
  • Intrexon (XON -$0.44);
  • Vericel (VCEL -$0.42);

Incliners:

  • Alnylam Pharmaceuticals (ALNY +$6.64 after Monday’s +$5.51, Friday’s -$4.29, Thursday’s +$2.99,Wednesday’s +$7.34 and last Tuesday’s +$5.20;
  • ReNeuron (RENE.L +$5.50 after Monday’s -$9.00, Friday’s +$+$1.50, Wednesday’s -$4.00 and last Tuesday’s -$2.50);
  • CRISPR Therapeutics (CRSP +$3.09 after Monday’s +$3.47,  Friday’s +$2.81, Thursday’s -$8.03 after an offering was proposed);
  • Global Blood Therapeutics (GBT +$2.96 after Monday’s +$3.89);
  • Editas Medicine (+$1.20);

 

The percentage (%) indicators:

  • Tues day’s range of the 23 upside was +0.06% (ONCE) to +13.79% (VSTM) while the 19 downside ranged from -0.06% (IONS) to -7.27% (XON); 

 

  • Monday’s range of the 34 upside was +0.01% (CLBS) to +11.58% (EDIT) while the 8 downside ranged from -0.03% (ONCE) to -6.79% (RENE.L); 

 

  • Friday’s range of the 27 upside was +0.23% (CLLS) to +24.75% (VSTM +$0.22) while the 14 downside ranged from -0.05% (ONCE) to -4.35% (BSTG); 

 

Upside volume stats:  to compare

  • Tuesday: 15 out of the 23 upside had higher than the 3 month average volume;

•     Monday: 12 out of the 34 upside had higher than the 3 month average volume;

  • Friday: 8 out of the 27 upside had higher than the 3 month average volume;

Downside volume stats:

  • Tuesday: 6 out of the 19 downside had higher than the 3 month average volume;
  • Monday: 7 out of the 8 downside had higher than the 3 month average volume;
  • Friday: 6 out of the 14 downside had higher than the 3 month average volume;

 

0 flat 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.

 

November’s sessions:

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

Monday closed POSITIVE with 8 decliners, 34 advancers, 0 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Friday closed POSITIVE with 14 decliners, 27 advancers, 1 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Thursday closed NEGATIVE with 21 decliners, 19 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Wednesday closed POSITIVE with 18 decliners, 23 advancers, 1 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Tuesday closed POSITIVE with 7 decliners, 34 advancers, 1 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Monday closed NEGATIVE with 22 decliners, 18 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Friday closed POSITIVE with 13 decliners, 26 advancers, 3 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

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

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

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

Monday closed NEGAIVE with 27 decliners, 14 advancers, 1 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Friday closed POSITIVE with 11 decliners, 29 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Thursday closed POSITIVE with 18 decliners, 21 advancers, 3 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Wednesday closed NEGATIVE with 27 decliners, 13 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

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

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.