November 27, 2019 7:22pm

The market will be closed on Thursday

Tax loss selling should not be an issue this year, says some – I disagree, it’s about portfolio management

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 … ENJOY the THANKSGIVING DAY holiday!

 

The Dow closed UP +42.32 (+0.15%), the S&P closed UP +13.11 points (+0.42%) and the NASDAQ closed up +57.24 points (+0.66%)

 

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

  • Wednesday the IBB closed up +0.91% while the XBI closed up +1.39%
  • 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%

 

The advance/decline line scenario of 45 covered companies:

  • Wednesday the close was positive with an A/D line of 26/13, 3 flat, 1 reversed merged (HSGX) and 2 acquired;
  • 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;

 

Henry’omics:

Sector equities kept heading skyward as I has stated “let ‘em ride” as the machines and algorithms “called the ball” while indexes also rose albeit slightly on Wednesday, building on their record-setting run after the release of stronger-than-forecast economic data.

Strong economic data supported gains. Durable goods orders rose 0.6% in October while economists expected a decline of 0.8%. Weekly jobless claims, meanwhile, fell to 213,000 from 227,000. Third-quarter GDP was revised to show growth of 2.1%. That’s up from a previous reading of 1.9%.

The Fed’s summary of economic conditions — better known as the Beige Book — showed the central bank saw the economy expanding modestly between October and mid-November. “Outlooks generally remained positive with some contacts expecting the current pace of growth to continue into next year,” the Beige Book said <CNBC>.

 

Enjoy Thanksgiving Day and be ... SAFE if you have to travel!

 

Decliners:

  • Alnylam Pharmaceuticals (ALNY -$1.50 after Tuesday’s +$6.64 and Monday’s +$5.51);
  • CRISPR Therapeutics (CRSP -$0.65 after Tuesday’s +$3.09 and Monday’s +$3.47 – post offering);
  • Spark therapeutics (ONCE -$0.33);
  • Intrexon (XON -$0.11 after Tuesday’s -$0.44);
  • Cellectis SA (CLLS -$0.07);

Incliners:

  • bluebird bio (BLUE +$5.26);
  • Global Blood Therapeutics (GBT +$3.27 after Tuesday’s +$2.96 and Monday’s +$3.89 – post drug approval);
  • BioMarin Pharmaceuticals (BMRN +$1.87 after Tuesday’s-$1.36);
  • Editas Medicine (EDIT +$0.85 after Tuesday’s +$1.20);
  • Sage Therapeutics (SAGE +$0.71 after Tuesday’s -$1.86 and Monday’s +$3.05);

 

 

The percentage (%) indicators:

  • Wednesday’s range of the 26 upside was +0.31% (BOLD) to +7.62% (MDXG) while the 13 downside ranged from -0.07% (QURE) to -1.96% (XON); 

 

  • 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); 

 

 

Upside volume stats:  to compare

  • Wednesday: 8 out of the 26 upside had higher than the 3 month average volume;
  • 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;

Downside volume stats:

  • Wednesday: 8 out of the 13 downside had higher than the 3 month average volume;
  • 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;

 

3 flat – BSTG, RENE.L and VSTM 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:

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

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.