November 23, 2020 5:24pm

However, the real optimism should be defined as when needles inject!

Pre-open indication results: 6 HITs and 1 MISS

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The Dow closed UP +330.02 points (+1.13%); the S&P closed UP +20.16 points (+0.57%) while the Nasdaq closed UP +25.66 points (+0.22%)

Henry’omics:

Indexes rose on Monday after AstraZeneca and the University of Oxford’s coronavirus vaccine was 90% effective.

The positive vaccine data this month has jolted stocks higher to record highs, despite concern about rising cases. Still, the Dow is up 10% in November. The S&P 500 is up 8%.

 

Pre-open indication: 6 HITs <Biostage (BSTG +$0.00 with 2,082 shares traded): BUY:  Applied Genetic Technologies (AGTC +$0.29) > SELL into Strength: Athersys (ATHX -$0.08), CRISPR Therapeutics (CRSP +$0.30), Fate Therapeutics (FATE +$1.64), Mesoblast (MESO +$2.03) and 1 MISS <bluebird bio (BLUE -$0.34)

 

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: Skim if you can trim, buy if it will fly and sell if compelled! … https://www.regmedinvestors.com/articles/11646

 

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

  • Monday opened positive at 17/16 and 2 flats, stayed positive at the mid-day at 22/10 and 3 flats, closing positive at 17/16 and 2 flats;
  • Friday opened negative at 8/24 and 3 flats, flipped positive at the mid-day at 17/15 and 3 flats, closing positive at 20/13 and 2 flats;

 

Key metrics:

  • Sector volume was the usual LOW with 9 of the 17-upside having higher than the 3-month average volume with the increased volume of 5 of 16-downside having higher than the 3-month average volume;
  • Monday’s percentage (%) of the 17-upside were +0.12% (VYGR) to +14.73% (MESO) while the 16- downside of -0.33% (BLCM) to -5.86% (PGEN);

 

Hammered in today’s market:

  • ReNeuron (RENE.L), Regenxbio (RGNX), Alnylam Pharmaceuticals (ALNY), Chinook Therapeutics (KDNY), Precigen (PGEN) to name 5 of the 16 declining of the 35 covered

Jumping with share pricing momentum:  

  • Sage Therapeutics (SAGE), Intellia therapeutics (NTLA), Fate Therapeutics (FATE), Mesoblast (MESO), Editas Medicine (EDIT) to name 5 of the 17 inclining of the 35 covered

 

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

  • Monday, the IBB closed up +0.21% and XBI closed up +0.36%
  • Friday, the IBB closed up +0.56% and XBI closed up +0.78%

 

Data Docket: IHS Markit said their U.S. manufacturing and services purchasing managers’ indexes hit multiyear highs. The flash U.S. services index rose to 57.7, its highest level in more than five years. The manufacturing PMI popped to 56.7, its highest level in over six years.

 

Monday’s (10 of 17) incliners:

  • Mesoblast (MESO +$2.03 after Friday’s +$1.99);
  • Intellia Therapeutics (NTLA +$1.94);
  • Sage Therapeutics (SAGE +$1.79 after Friday’s +$1.25);
  • Fate Therapeutics (FATE +$1.64 after Friday’s +$2.94);
  • Ionis Pharmaceuticals (IONS +$1.13 after Friday’s -$1.31
  • Adverum Biotechnologies (ADVM +$0.97 after Friday’s +$0.32);
  • Cellectis SA (CLLS +$0.96 after Friday’s -$0.95
  • Editas Medicine (EDIT +$0.91 after Friday’s +$0.39
  • BioLife Solutions (BLFS +$0.78 after Friday’s -$0.84);
  • Brainstorm cell therapeutics (BCLI +$0.47);

Monday’s (10 of 16) decliner:

  • ReNeuron (RENE.L -$2.00 after Friday’s -$1.00);
  • Regenxbio (-$1.96 after Friday’s -$0.13);
  • Alnylam Pharmaceuticals (ALNY -$1.68 after Friday’s +$0.89);
  • Precigen (PGEN -$0.37 after Friday’s +$0.17);
  • Chinook therapeutics (KDNY -$0.35 after Friday’s +$0.43);
  • bluebird bio (-$0.34 after Friday’s -$1.09);
  • Sangamo Therapeutics (SGMO -$0.26 after Friday’s -$0.07);
  • Global Blood Therapeutics (GBT -$0.26);
  • Homology Medicine (FIXX -$0.25);
  • Vericel (VCEL -$0.23);

Closing Flat -1 Biostage (BSTG) and 1 -Stemline Therapeutics (STML – acquired)

 

Percentage (%) movement/range statistics: a 360 degrees comparison of % and pricing

  • Monday’s percentage (%) of the 17-upside were +0.12% (VYGR) to +14.73% (MESO) while the 16- downside of -0.33% (BLCM) to -5.86% (PGEN);
  • Friday’s percentage (%) of the 20-upside were +0.09% (GBT) to +16.88% (MESO) while the 13-downside ranges from -0.11% (QURE) to -4.30% (CLLS);

 

Sentiment and a few daily indicators:

Sentiment was boosted by positive vaccine data and strong economic data while Friday’s jump in infection cases brings the seven-day average of new cases to over 167,600, an increase of nearly 20% compared with a week ago.

Infection cases <Million>:

  • Monday 12.25 M cases
  • Friday 11.71 M cases

Monday’s death rate totaled 256,803 after Friday’s 252.564, Thursday’s 250,548 after Wednesday’s 284.824, Tuesday’s 247,437 and last Monday’s 246,224 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Monday: 9 out of the 17-upside had higher than the 3-month average volume;
  • Friday: 5 out of the 20-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was down -1.04 points or -4.39% at 22.66
  • Friday was up +0.59 points or +2.55% at 23.70

Downside volume:

  • Monday: 5 out of the 16-downside had higher than the 3-month average volume;
  • Friday: 9 out of the 13-downside had higher than the 3-month average volume;

 

November, the 2nd month of Q4 …

Monday (11/23) closed positive with 17 advancers, 16 decliners and 2 flats 

Friday closed positive with 20 advancers, 13 decliners and 2 flats 

Thursday closed positive with 19 advancers, 13 decliners and 3 flats 

Wednesday closed negative with 7 advancers, 25 decliners and 3 flats 

Tuesday closed positive with 18 advancers, 15 decliners and 2 flats 

Monday (11/16) closed positive with 19 advancers, 15 decliners and 1 flat   

Friday closed positive with 22 advancers, 11 decliners and 1 flat 

Thursday closed negative with 15 advancers, 19 decliners and 1 flat 

Wednesday closed positive with 17 advancers, 15 decliners and 3 flats 

Tuesday closed positive with 22 advancers, 11 decliners and 2 flats 

Monday (11/9) closed positive with 21 advancers, 12 decliners and 2 flats 

Friday closed negative with 6 advancers, 28 decliners and 1 flat 

Thursday closed positive with 20 advancers, 11 decliners and 4 flats 

Wednesday closed positive with 28 advancers, 4 decliners and 3 flats 

Tuesday closed positive with 30 advancers, 4 decliners and 1 flat 

Monday (11/2) closed positive with 17 advancers, 15 decliners and 3 flats 

 

The Bottom Line: another I told you so … the market is driven by vaccine news forgetting the broader issues of the economy, infections and loss of any normality.

This market is being seen through fogged-up glasses by the mask of proximity protections.

Also, the polarization of the country is NOT reflected through market indexes!

 

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.