September 15, 2020 6:59pm

An exclamation of joy of the oversold feelin’ the gain although some say, fast money is chasing share pricing

Pre-open indication results: 11 HIT and 1 MISS

An “intelligence newspaper” for smart investing in the RegMed, gene and cell therapy sector.  I say today what others won't, so you can do what others can't.

Subscription is coming, my gift to you, I've kept RMi subscription FREE during these COVID-19 and volatile times!

The Dow closed UP +2.27 points (+0.01%), the S&P closed UP +17.66 points (+0.52%) while the Nasdaq closed UP +133.67 points (+1.21%)

 

Henry’omics:

The down slipped but closed barely positive, the S&P was up with the Nasdaq as the last hours of the session depreciated the highs of many equities.

The Empire State Manufacturing index came in at 17 for September, rebounding from a print of 3.7 in August. Economists expected the index to come in at 7.

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: futures are strong building on previous gains … https://www.regmedinvestors.com/articles/11545

 

RegMed/Cell and Gene therapy 35 covered equities’ Advance/Decline (A/D) lines: progressions and regressions …

  • Tuesday opened positive at 22/11 and 2 flats, stayed positive at the mid-day at 27/7 and 1 flat, closing positive at 22/12 and 1 flat;
  • Monday opened positive at 32/2 and 1 flat, stayed positive at the mid-day at xx/13 and 2 flats, closing positive at 31/3 and 1 flat;
  • Friday opened positive at 28/6 and 1 flat, stayed positive at the mid-day at 20/13 and 2 flats, closing negative at 16/17 and 2 flats;

 

Pre-open indication results:  10 HITs < sell into strength and profit from PEAKS -Alnylam Pharmaceuticals (ALNY -$1.49), Athersys (ATHX -$0.08), BioLife Solutions (BLFS +$1.76), Cellectis SA (CLLS +$1.07), Fate Therapeutics (FATE +$0.12), Brainstorm Cell Therapeutics (BCLI +$0.01), CRISPR Therapeutics (CRSP +$0.22), Editas Medicine (EDIT +$0.57), Homology Medicine (FIXX -$0.05); BUY - Applied Genetic Technologies (AGTC +$0.61), AND 2 miss <Biostage (BSTG +$0.14) – a pump and frequently dump, bluebird bio (BLUE -$0.87) >

 

Key metrics:

  • Sector volume was LOW with 6 of the 22-upside having higher than the 3-month average volume and the 1 of 12-downside having higher than the 3-month average volume;
  • Tuesday’s percentage (%) of the 22-upside were +0.07% (BCLI) to +13.93% (AGTC) while the 12-downside ranges from -0.37% (ALNY) to -8.09% (PSTI); 

 

Hammered in today’s market:

  • ReNeuron (RENE.L), uniQure NV (QURE), Global Blood Therapeutics (GBT), Pluristem (PSTI), Sangamo Therapeutics (SGMO), Athersys (ATHX), Ionis Therapeutics (IONS), Sangamo Therapeutics (SGMO), MiMedx (OTC Pink sheets: MDXG), Homology Medicine (FIXX), Alnylam Pharmaceuticals (ALNY) to name 12 of the 12 declining of the 35 covered

Jumping with share pricing momentum:

  • Ultragenyx (RARE), Intellia Therapeutics (NTLA), BioLife solutions (BLFS), Sage Therapeutics (SAGE, Cellectis SA (CLLS) to name 5 of the 22 inclining of the 35 covered

 

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

  • Tuesday, the IBB closed up +1.01% and XBI closed up +0.94%
  • Monday, the IBB closed up +5.42% and XBI closed up +6.89%
  • Friday, the IBB closed up +0.49% and XBI closed down -0.07%

 

Tuesday’s (10 of 22) incliners:

  • Ultragenyx (RARE +$3.99 after Monday’s +$4.41);
  • BioLife Solutions (BLFS +$1.76 after Monday’s +$2.15);
  • Intellia Therapeutics (NTLA +$1.35 after Monday’s +$1.66);
  • Sage Therapeutics (SAGE +$1.21);
  • Cellectis SA (CLLS +$1.07 after Friday’s +$0.29);
  • CRISPR Therapeutics (CRSP +$0.88 after Monday’s +$4.73);
  • Bellicum Pharmaceuticals (BLCM +$0.73);
  • Applied Genetic Technologies (AGTC +$0.61);
  • Editas Medicine (EDIT +$0.57);
  • Vericel (VCEL +$0.53);

Tuesday’s (12 of 12) decliners:

  • ReNeuron (RENE.L -$5.00 after Monday’s -$3.50);
  • uniQure (QURE -$2.08);
  • Global Blood Therapeutics (GBT -$1.98 after Monday’s +$3.40);
  • bluebird bio (BLUE -$0.87);
  • Pluristem (PSTI -$0.85);
  • Ionis therapeutics (IONS -$0.81 after Monday’s +$1.77);
  • Alnylam Pharmaceuticals (ALNY -$0.49 after Monday’s +$8.56);
  • Sangamo Therapeutics (SGMO -$0.15);
  • Athersys (ATHX -$0.08);
  • Caladrius Biosciences (CLBS -$0.06);
  • MiMedx (OTC Pink sheets: MDXG -$0.05);
  • Homology Medicine (FIXX -$0.05);

Closing flat: 1 - Stemline Therapeutics (STML – acquired)

 

Percentage (%) movement/range statistics: 360 degrees comparisons

  • Tuesday’s percentage (%) of the 22-upside were +0.07% (BCLI) to +13.93% (AGTC) while the 12-downside ranges from -0.37% (ALNY) to -8.09% (PSTI); 
  • Monday’s percentage (%) of the 31-upside were +1.69% (BLUE) to +14.75% (VSTM) while the 3-downside ranges from -1.67% (AXGN) to -3.65% (RENE.L); 
  • Friday’s percentage (%) of the 16-upside were +0.20% (PSTI) to +11.43% (CLBS) while the 17-downside ranges from -0.21% (ADRO) to -20.35% (BSTG); 

 

Sentiment and a few daily indicators:

Tuesday’s gains came after the major averages popped more than 1% on Monday, boosted by a slew of deal making activity and a rally in tech stocks. Sentiment swirls as hopes abound about a potential coronavirus vaccine also lifted sentiment on Monday. <CNBC>

Infections rates:

  • Tuesday 6.55 cases
  • Monday 6.52 cases
  • Friday 6.41 cases

Tuesday’s day’s death rate totaled 194,547 after Monday’s 194,000 after Friday’s 192,448, Thursday’s 191,536, Wednesday’s 189,600 and last Tuesday’s 189,366 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Tuesday: 6 out of the 22-upside had higher than the 3-month average volume;
  • Monday: 12 out of the 31-upside had higher than the 3-month average volume;
  • Friday: 3 out of the 16-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Tuesday was down -0.26 points or -1.01% at 25.59
  • Monday was down -1.02 points or -3.80% at 25.85
  • Friday was down -2.84 points or -9.56% at 26.87

Downside volume:

  • Tuesday: 1 out of the 12-downside had higher than the 3-month average volume;
  • Monday: 2 out of the 3-downside had higher than the 3-month average volume;
  • Friday: 4 out of the 17-downside had higher than the 3-month average volume;

 

September, the third month of Q3 …

Tuesday closed positive with 22 advancers, 12 decliners and 1 flat

Monday (9/14) closed positive with 31 advancers, 3 decliners and 1 flat

Friday closed negative with 16 advancers, 17 decliners and 2 flats

Thursday closed negative with 12 advancers, 20 decliners and 3 flats

Wednesday closed positive with 27 advancers, 5 decliners and 3 flats

Tuesday (9/10) closed negative with 14 advancers, 19 decliners and 2 flats

Monday was a holiday  

Friday closed negative with 5 advancers, 28 decliners and 2 flats

Thursday closed negative with 2 advancers, 32 decliners and 1 flat

Wednesday closed negative with 18 advancers, 25 decliners and 2 flats

Tuesday (9/1) closed negative with 4 advancers, 29 decliners and 2 flats

 

The Bottom Line:  Sustainability will be the KEY word of this newest (2nd session) up after all the losses this month of September.

Support and resistance will also be key factors in the reminder of the week’s sessions. Yet, the Nasdaq has survived key technical tests even amid an aggressive September downturn.

My issue is the profit taking by electronic algorithmic motivated trading.

The iShares Russell 2000 ETF has rallied from an extended test of the 50-day moving average … so far?

 

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.