January 3, 2020 7:29pm

Algorithms and electronic trading not Investors fled risk assets

Pre-open indications: 4 HITS < ReNeuron (RENE.L -$5.00), Precigen (XON +$0.04), Cellectis SA (CLLS (-$0.59) Mesoblast (MESO -$0.49) and 1 MISS - <Sage Therapeutics (SAGE +$0.37)>

The week’s “numbers” in review


 

The Dow closed DOWN -233.92 points (-0.81%), the S&P closed DOWN -23 points (-0.71%) and the NASDAQ closed DOWN -71.42 points (-0.79%)

 

Updates: my “covered list” dropped to 36: gone are BMRN, merged or reversed AST, OSIR, HSGX, ONVO OSIR and ONCE and dropped: BTX, CUR and KOOL

 

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

  • Friday the IBB closed down -1.53% while and XBI closed down -1.32%
  • Thursday the IBB closed down -0.62% while and XBI closed down -0.51%
  • Wednesday was a holiday
  • Tuesday the IBB closed up +0.54% while and XBI closed up +0.54%
  • Monday the IBB closed down -1.38% while and XBI closed down -1.49%

 

The advance/decline line scenario of 45 covered companies:

  • Friday the close was negative with an A/D line of 15/20 , 1 flat of 36,
  • Thursday the close was negative with an A/D line of 15/19 , 2 flats of 36,
  • Wednesday the markets were closed,
  • Tuesday the close was positive with an A/D line of 24/11, 3 flats, 2 reversed merged (HSGX & ONVO), 2 dropped (BTX and CUR) and 3 acquired (ONCE, AST & OSIR);
  • Monday the close was negative with an A/D line of 9/28, 1 flat, 2 reversed merged (HSGX & ONVO), 2 dropped (BTX and CUR) and 3 acquired (ONCE, AST & OSIR);

 

Henry’omics:

Indexes fell on Friday after the U.S. confirmed that an airstrike killed Iran’s top military commander, sending oil prices surging and ratcheting up geopolitical concerns.

The downside was highlights by ReNeuron (RENE.L -$5.00) while the upside was led by uniQure (QURE +$1.12).

Interesting how the “editing” companies: Editas Medicine (EDIT -$0.44), CRISPR Therapeutics (CRSP +$0.12) and Intellia therapeutics (NTLA +$0.03) were mixed and slowly moving while close comparable Sangamo Therapeutics (SGMO) closed flat at $8.21.

Optimism entering the New Year is fading amid political tensions, including North Korea and the impeachment of President Trump.

 

As I had stated, “NOT a day to step-up … SELL” – The macros, algorithms and electronic trading are driving the sector’s … sentiment!

 

Decliners:

  • ReNeuron (RENE.L -$5.00 after Thursday’s +$0.50, Tuesday’s +$9.50 and Monday’s +$2.50);
  • Homology Medicine (FIXX -$1.84);
  • AxoGen (AXGN -$0.90);
  • Cellectis SA (CLLS -$0.59 after Thursday’s+$0.69 and Tuesday’s -$0.15);
  • Mesoblast (MESO -$0.48 after Thursday’s +$0.47);

Incliners:

  • uniQure NV (QURE +$1.12 after Thursday’s -$1.40);
  • bluebird bio (BLUE -$0.58 after Thursday’s -$1.38);
  • Sage Therapeutics (SAGE +$0.37 after Thursday’s +$0.97, Tuesday’s+$0.60 and Monday’s-$1.76);
  • Caladrius Biosciences (CLBS +$0.28);
  • Biostage (BSTG +$0.23);

 

The percentage (%) indicators:

  • Friday’s range of the 15 upside was +0.03% (GBT) to +11.44% (BSTG) while the 20 downside ranged from -0.05% (STML) to -8.96% (FIXX); 
  • Thursday’s range of the 15 upside was +0.34% (RENE.L) to +11.05% (BLCM) while the 19 downside ranged from -0.02% (BOLD) to -8.19% (AGTC); 
  • Wednesday was a holiday; 
  • Tuesday’s range of the 24 upside was +0.05% (RARE) to +16.22% (BLCM) while the 11 downside ranged from -0.05% (BMRN) to -4.96% (VSTM); 
  • Monday’s range of the 9 upside was +0.09% (ADVM) to +10.31% (CLBS) while the 28 downside ranged from -0.03% (GBT) to -9.02% (BLCM); 

 

Upside volume stats:  to compare

  • Friday: 4 out of the 15 upside had higher than the 3 month average volume;
  • Thursday: 4 out of the 15 upside had higher than the 3 month average volume;
  • Wednesday was a holiday;
  • Tuesday: 6 out of the 24 upside had higher than the 3 month average volume;
  • Monday: 2 out of the 9 upside had higher than the 3 month average volume;

Downside volume stats:

  • Friday: 3 out of the 20 downside had higher than the 3 month average volume;
  • Thursday: 7 out of the 19 downside had higher than the 3 month average volume;
  • Wednesday: markets were closed
  • Tuesday: 7 out of the 11 downside had higher than the 3 month average volume;
  • Monday: 10 out of the 28 downside had higher than the 3 month average volume;

 

1 flat – SGMO

 

January’s sessions:

Friday closed NEGATIVE with 20 decliners, 15 advancers and 1 flat;

Thursday closed NEGATIVE with 19 decliners, 15 advancers and 2 flats;

Wednesday markets were closed;

 

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.