October 19, 2017 8:01pm
More trouble ahead?
We’ve been there and done that, move on as many oversold will re-find their footing and some overbought will feel some pain of hype
Pre-open indications: 6 hit and 0 miss
In the grip of rotating cycles and disparaging trends, what is the price of sector equities - knowledge and a subscription!
The way forward cannot be found in the practices and spending of the past as the sector is operating and defined by its own contradictions.
Thursday’s results have implications to Friday’s sector activity as a daily report may say little or a lot and it serves as insurance that all indications are being examined and evaluated!
Henry’omics:
From the pre-open’s newsletter, “lot of challenges as markets drop, the sector has already experienced many of the same warnings and depreciation. The threat “our” universes “rushing to an exit” should be reassessed, the doors been held open all week.”
Sector volume was tracking slightly higher compared with Wednesday.
The advance/decline line scenario of 43 SCGT & RT covered companies:
· The open was negative with an A/DL of 10/27 and 6 flats;
· The mid-day was negative with an A/DL of 13/28 and 2 flats;
· The close was negative with an A/DL of 16/24 and 3 flats;
Pre-open indications: 6 hit and 0 miss
- Asterias Biotherapeutics (NYSEMKT: AST) closed up +$0.15 – hit;
- Athersys (ATHX) closed down -$0.11 – hit;
- bluebird bio (BLUE) closed up +$0.35 – hit;
- MiMedx (MDXG) closed up +$0.07 – hit;
- Pluristem (PSTI) closed up +$0.06 – hit;
- uniQure (QURE) closed up +$5.69 – hit;
Some of MY working trend lines or indications:
… The greatest volume to the downside: IMUC, ATHX, ONVO, SGMO and VCEL
… Upside volume was weighted to: QURE, BSTG, MDXG, BLFS and JUNO
… Biggest $ downside: ONCE (-$1.21), RGNX (-$0.40), ADRO (-$0.32), SGMO (-$0.20) and VTGN (-$0.17)
… Largest $ upside: QURE (+$5.59), BLUE (+$0.35), JUNO (+$0.32), CLLS (+$0.28) and BLFS (+$0.26)
… Flat: KITE, CLBS and RENE.L
Picking and sorting the week’s apples:
Biostage (BSTG) was up +$0.01 on WHAT? They still have a terminal death suit hanging over them and the multiple issues of non-disclosure re their current condition and the roles of their management team played in its shares downfall as to the time and conditions of their investor’s exit!
CAPR closed down again -$0.04 after Wednesday’s -$0.03 after being up +$0.10 after Monday’s -$0.07 to $2.69 - CAPR can’t keep fooling investors with their brand of hype;
CLBS closed flat at $3.39 after being dumped -$0.15 after Tuesday’s -$0.09 after Mondays -$0.06 – I keep hearing stories about why they can’t get out of their own way … along with VTGN who was down -$0.17 after being up +$0.03 after Tuesday’s -$0.04;
VCEL was down -$0.15 after being up +$0.05 post being down -$0.10 after Monday’s -$0.15 – still believe is on an Icarus flight path … while AXGN was up again another +$0.20 after being up+$0.20 following Monday’s +$0.05 … the merry-go-round turns – I’m still riding the horse as MDXG was up +$0.07 after being down -$0.06 post Tuesday’s +$0.31 after Monday’s +$0.33; while HSGX closed up +$0.10 after being flat at $2.10 post being down again -$0.07 following Monday’s -$0.06 after being up a number of sessions … I like the company i.e. still undervalued …
SGMO was down again -$0.20 after being -$0.35 after Tuesday’s -$0.35 after Monday’s -$0.10 while ONCE was down again -$1.21 post Wednesday’s -$0.97 after Tuesday’s -$2.56 after being up +$1.30, as BLUE feels the gain again of +$0.35 after being down -$1.10 after Tuesday’s -$3.10 after the gain of $11.60 … a soccer ball score; AGTC was down -$0.02 following Wednesday’s +$0.075 after Tuesday’s +$0.05 after being down -$0.05 … AGTC can’t escape the basement … is management is deaf, dumb or blind?
RGNX lost altitude -$0.40 after being up +$0.85 post Tuesday’s down -$1.20 after being up +$0.25 … I keep telling you to stay! Cellectis S.A. (CLLS) jumped +$0.28 after getting clipped -$0.85 after Tuesday’s +$0.06 post slipping -0.19 … if you stay on the merry-go-round, don’t wait for the music to stop;
AST was up +$0.15 after an offering closed post being down -$0.20 after Tuesday’s -$0.10 after being up +$0.05 while mothership BTX was up again +$0.04 post Wednesday’s +$0.07 after an offering closed post Tuesday’s -$0.01 after Monday’s -$0.03 … both financed to prop their balance sheets
Immuno-oncologists - JUNO was up again +$0.32 after yesterday’s +$0.04 post Tuesday’s +$0.16 after being down -$0.02; as VSTM was UP +$0.05 after getting dumped -$0.25 post Tuesday’s -$0.06 after Monday’s -$0.14;
STML was down again -$0.05 after yesterday’s -$0.20 post Tuesday’s -$0.50 after being down -$0.10 at $11.60; while ADRO dropped another -$0.32 after yesterday’s -$0.10 after jumping +$0.15 post Monday’s +$0.25 as BLCM dumped -$0.10 after jumping +$0.11 after being up +$0.09 post the dive of -$0.22 …
ATHX was down again -$0.11 after yesterday’s -$0.105 after Tuesday’s -$0.05 after Monday’s -$0.07 … now, there are even MORE question re their cash position going forward as their clinical “manufacturing” batch issues and patent might be solved but, how are they going to pay for the future?
FATE was down -$0.06 after being up +$0.09 after yesterdays +$0.02 after Monday’s +$0.01 – hang in;
MESO was down again -$0.07 after Wednesday’s -$0.06 after yesterdays -$0.24 after Monday’s -$0.13– as I had stated time to be accumulating on dips…
PSTI was up +$0.06 on news after being down -$0.05 after being flat post Monday’s up +$0.08 - wait for the downside signal… it always comes and it did!
Daily analytics:
The S&P 500 and the Dow overcame selling pressure in a rebound near the closing bell, eking out records on Thursday as Wall Street marked the 30th anniversary of the 1987 crash. Political tensions in Europe and lackluster economic reports out of China were blamed for keeping stocks in negative territory for most of the session even as robust earnings kept the market from retreating too far.
· The Dow was down more than 100 points at one point during the day, rose 5.49 points to close at 23,163.04.
· The S&P 500 index edged up 0.84 point or +0.03% to 2,562.10.
· The NASDAQ bucked the broader trend to fall 19.15 points, or 0.3%, to 6,605.07.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market; Thursday traded at 10.05, down -0.20% …
- Wednesday traded at 10.07, down -2.33% after Tuesday traded at 10.31, up +4.04% after Monday traded at 9.92, up +3.23% after Friday traded at 9.61, down -3.03% and last Thursday at 9.91, up +0.61% …
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Thursday was down -0.13%
· Wednesday +0.47%
· Tuesday -0.29%
· Monday -0.07%
· Friday -0.17%
· Last Thursday -0.07%
… The Russell 2000 (RUT)
· Thursday was down -0.21%
· Wednesday +0.51%
· Tuesday -0.34%
· Monday 0.00%
· Friday -0.17%
· Last Thursday -0.12%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Thursday was down -0.26%
· Wednesday -0.64%
· Tuesday+0.38%
· Monday +0.14%
· Friday -0.22%
· Last Thursday -0.52%
The count - decliners versus gainers:
……. look at the differences in the spreads as decliners jump and %
· Thursday’s decliners ranged from -0.11% <XON -$0.02> to -13.08% <VTGN -$0.17> in 24 equities;
· Wednesday’s decliners ranged from -0.43% <MDXG -$0.06> to -21.97% <BSTG -$0.019> in 23 equities;
· Tuesday’s decliners ranged from -0.38% <BTX -$0.01> to -% <STML -$0.50> in 19 equities;
· Monday’s decliners ranged from -0.05% <JUNO -$0.02> to -8.53% <BSTG -$0.0081> in 29 equities;
· Friday’s decliners ranged from -0.08% <MDXG -$0.01> to -17.18% <BSTG -$0.02> in 32 equities;
· Last Thursday’s decliners ranged from -0.54% <BLFS -$0.03> to -15.13% <CYTX -$0.084> in 23 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Thursday’s gainers ranged from +0.25% <BLUE +$0.35 > to +60.08% <QURE (+$5.69> in 24 equities;
· Wednesday’s gainers ranged from +0.09% < JUNO +$0.04> to +5.72% <BLFS +$0.33> in 18 equities;
· Tuesday’s gainers ranged from +0.21% <CLLS +$0.06> to +0.28% <BLFS +$0.28> in 20 equities;
· Monday’s gainers ranged from +0.03% <IMUC +$0.0001> to +11.86% <QURE +$1.27> in 11 equities;
· Friday’s gainers ranged from +0.90% <NWBO +$0.0015> to +4% <ONVO +$0.06> in 9 equities;
· Last Thursday’s gainers ranged from +0.19% <JUNO +$0.08> to +10.43% <HSGX +$0.22> in 16 equities;
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.
