December 23, 2019 5:52pm

Maybe Santa came early or the festival shone some lights on new “rules” for algorithms

Pre-open indications: 8 HITs <SGMO (+$0.48), VSTM (+$0.0235), VCEL (+$0.51), STML (+$0.18), AXGN (+$1.01), NTLA (+$0.59), ALNY (+$1.92) and CRSP (+$0.58); > 1 MISS (BLUE (-$0.15) >

I am also ready for markets to close early (1 p.m.) on Tuesday, Christmas Eve

It’s also not hard to be right so often, it’s about refining expectation, defining insight and trusting your “gut” versus the machines or algorithms


 

Happy Hanukkah and a soon to be Christmas

 

The Dow closed up +96.44 points (+0.34%), the S&P closed UP +2.79 points (+0.09%) and the NASDAQ closed UP +20.69 points (+0.23%)

 

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

  • Monday the IBB closed up +0.87% while and XBI closed up +1.01%
  • Friday the IBB closed up +0.90% and the XBI closed up +0.27%

 

The advance/decline line scenario of 45 covered companies:

  • Monday the close was positive with an A/D line of 33/5, 1 flat, 2 reversed merged (HSGX & ONVO), 2 dropped (BTX and CUR) and 3 acquired (ONCE, AST & OSIR);
  • Friday the close was negative with an A/D line of 15/19, 3 flats, 2 reversed merged (HSGX & ONVO), 2 dropped (BTX and CUR) and 3 acquired (ONCE, AST & OSIR);

 

Henry’omics:

What did I say in this a.m.’s post, “gene therapy gets another accolade” – reason collaborations (SGPT and ROCHE along with SGMO and Pfizer (PFE).

Indexes climbed higher on Monday, hitting new records, as the year-end rally continues.

The BIG winners for the day were: ReNeuron (RENE.L +$3.50); Global Blood Therapeutics (GBT +$3.36 after Friday’s +$1.060; uniQure NV (QURE +$2.47 after Friday’s -$0.63);Ultragenyx (RARE +$1.58);Alnylam Pharmaceuticals (ALNY +$1.40 after Friday’s -$1.92 after Thursday’s +$2.51) and lets us not forget Applied Genetic Technologies (AGTC +$0.88 or +2.08%) who is NO longer scraping the bottom after Friday’s +29.73% gain along with BioMarin (BMRN +$1.25) who submitted a Biologics License Application (BLA) to the U.S. FDA for its investigational AAV gene therapy, valoctocogene roxaparvovec, for adults with hemophilia A.  Subject to completion of the FDA's filing review, BioMarin anticipates the BLA review to commence in February 2020.

Investors also cheered the news that China will cut import tariffs on a wide range of goods. China’s finance ministry announced starting January 1, it will lower import tariffs on over 850 products ranging from frozen pork to some types of semiconductors. China is making efforts to boost imports amid a slowing economy and a trade war with the U.S.

However, trading volumes were subdued ahead of Christmas. The SPDR S&P 500 ETF Trust (SPY) traded about 41 million shares, well below its 30-day volume average of 60 million shares.

Our universe saw its share of low volume, up momentum with small percentage moves.

From my morning “Data Docket” - new home sales in November totaled 719,000, 13,000 less than expected, the U.S. Census Bureau said Monday. Durable goods orders rose 0.1% last month, in line with estimates but down 1.1% from the same month a year ago.

 

Coal in the stocking, not yet but be prepared for a … pause … as January starts to blossom!

 

Decliners:

  • bluebird bio (BLUE -$0.07 after friday's  -$2.54,Thursday’s-$1.48, Wednesday’s -$1.58 and last Tuesday’s +$3.59;
  • Sage Therapeutics (SAGE -$0.56 after Friday’s ,+$1.95, Thursday’s +$1.54 and last Wednesday’s +$2.62);
  • CRISPR Therapeutics (CRSP (-$0.18 after Friday’s+$2.92);
  • Audentes Therapeutics (BOLD -$0.12);
  • MiMedx (MDXG -$0.01);

Incliners:

  • ReNeuron (RENE.L +$3.50);
  • Global Blood Therapeutics (GBT +$3.36 after Friday’s +$1.060;
  • uniQure NV (QURE +$2.47 after Friday’s -$0.63);
  • Ultragenyx (RARE +$1.58);
  • Alnylam Pharmaceuticals (ALNY +$1.40 after Friday’s -$1.92 after Thursday’s +$2.51);

 

The percentage (%) indicators:

  • Monday’s range of the 32 upside was +014% (MDXG) to +11.22% (ADRO) while the 5 downside ranged from -0.08% BLUE) to -0.73% (SAGE); 
  • Friday’s range of the 15 upside was +0.06% (AXGN) to +29.83% (AGTC) while the 19 downside ranged from -0.16% (NTLA) to -4.01% (XON); 

 

Upside volume stats:  to compare

  • Monday: 9 out of the 35 upside had higher than the 3 month average volume;
  • Friday: 9 out of the 15 upside had higher than the 3 month average volume;

Downside volume stats:

  • Monday: 1 out of the 2 downside had higher than the 3 month average volume;
  • Friday: 12 out of the 19 downside had higher than the 3 month average volume;

 

1 flat –BSTG

 

December’s sessions:

Monday closed POSITIVE with 2 decliners, 35 advancers, 1 flat, 2 dropped (BTX & CUR) and 3 acquired (ONCE, AST & OSIR) and 2 reversed (HSGX & ONVO);

Friday closed NEGATIVE with 19 decliners, 15 advancers, 3 flats, 2 dropped (BTX & CUR) and 3 acquired (ONCE, AST & OSIR) and 2 reversed (HSGX & ONVO);

Thursday closed POSITIVE with 12 decliners, 24 advancers, 2 flats, 2 dropped (BTX & CUR) and 3 acquired (ONCE, AST & OSIR) and 2 reversed (HSGX & ONVO);

Wednesday closed NEGATIVE with 23 decliners, 13 advancers, 3 flat, 2 dropped (BTX & CUR) and 2 acquired (AST & OSIR) and 2 reversed (HSGX & ONVO);

Tuesday closed NEGATIVE with 22 decliners, 16 advancers, 1 flat, 2 dropped (BTX & CUR) and 2 acquired (AST & OSIR) and 2 reversed (HSGX & ONVO);

Monday closed POSITIVE with 13 decliners, 25 advancers, 1 flat, 2 dropped (BTX & CUR) and 2 acquired (AST & OSIR) and 2 reversed (HSGX & ONVO);

Friday closed NEGATIVE with 24 decliners, 16 advancers, 1 flat, 1 dropped (BTX) and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Thursday closed POSITIVE with 14 decliners, 27 advancers, 0 flat, 1 dropped (BTX) and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

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

Tuesday closed POSITIVE with 17 decliners, 22 advancers, 2 flats, 1 dropped (BTX) and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Monday closed NEGATIVE with 31 decliners, 9 advancers, 1 flat, 1 dropped (BTX) and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Friday closed POSITIVE with 9 decliners, 29 advancers, 3 flats, 1 dropped (BTX) and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Thursday closed NEGATIVE with 31 decliners, 9 advancers, 1 flat, 1 dropped (BTX) and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Wednesday closed POSITIVE with 13 decliners, 25 advancers, 4 flats, 1 dropped (BTX) and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Tuesday closed POSITIVE with 12 decliners, 25 advancers, 4 flats, 1 dropped (BTX) and 2 acquired (AST & OSIR) and 1 reversed (HSGX);

Monday closed NEGATIVE with 26 decliners, 19 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.