June 7, 2018 5:43pm

All week I have been saying we were overbought, “I’m NERVOUS about all-time highs, low volume and cautious about sector share pricing!”

As the NASDAQ drops -1%

 

Pre-open indications: 2 HIT and 1 MISS

Out and about: MiMedx Group (MDXG) takes a big hit, down -$1.92 or -23.39% to $6.29; Biostage (BSTG) suddenly loses two (2) directors of six (6). Also is the share price being manipulated by recent finance pricing?  Just an opinion!

 

Of the 45 covered, the 34 downside equities expired in a bottom-weighted range of -$0.01 to -$1.92 with 2 toppers of -$4.20 and -$4.04 while the 9 upside equities oscillated from +$0.08 to +$0.56 with 2 flat closes

 

We keep you informed, if you want to be knowledgeable of the “bones” of the sector - be a subscriber to understand what you need to do in Friday’s market. Let the “numbers” speak since sentiment is capricious!

 


Henry’omics:

From the pre-open newsletter … “dash for cash. Lock and load the SELL button as momentum continues with low volume after six (6) positive sessions in a row. Is this trend your friend?

I believe that there will be plenty to knock the sector around –it’s confidence that will shake the tree into the June swoon!

Interesting development, Athersys (ATHX) does a “deal” on news of expansion of the Healios collaboration as Healios receives rights to develop and commercialize additional indications and ATHX receives $20 million in license fees, plus potential milestones payments and royalties – and the share price – DROPS -$0.06.

Fear will be an INFLUENCE in “our” universe!

 

The advance/decline line scenario of 45 covered companies:   

  • The open was negative with an A/DL of 13/25 and 7 flats;
  • The mid-day stayed negative with an A/DL of 11/31 and 1 flat;
  • The close was negative with an A/DL of 9/34 and 2 flats;

 

Pre-open indications: 2 HIT and 1 MISS

  • Athersys (ATHX) closed down -$0.06 – miss;
  • CRISPR Therapeutics (CRSP) closed down -$0.83 – hit;
  • Intellia Therapeutics (NTLA) closed down -$0.55 – hit;

 

Out and about:

MiMedx Group (MDXG) – https://www.regmedinvestors.com/articles/10328

Interesting “stat”:  In 2017, the average restatement covered 509 days, the lowest value since 2009, according to Audit Analytics. MDXG’s restatement will cover nearly 2,099 days or roughly four times the average <WSJ>.

 

June sessions:

  • Thursday closed NEGATIVE with 34 decliners, 9 advancers and 2 flat;
  • Wednesday closed POSITIVE with 17 decliners, 24 advancers and 4 flat;
  • Tuesday closed POSITIVE with 14 decliners, 30 advancers and 1 flat;
  • Monday closed POSITIVE with 18 decliners, 25 advancers and 2 flat;
  • Friday (June 1) closed was POSITIVE with 15 decliners, 29 advancers and 1 flat;

 

MY working five (5) trend lines:

The greatest volume to the downside:  MDXG, ATHX, VSTM, ONVO and SGMO

Upside volume was weighted to:  KOOL, RARE, MESO, AGTC and AST

Biggest $ downside:  BLUE (-$4.20), SAGE (-$4.04), MDXG (-$1.92), ALNY (-$1.75) and GBT (-$1.65)

Best moves to the $ upside: RARE (+$2.66), MESO (+$0.56), AGTC (+$0.30), OSIR (+$0.16) and SLDB (+$0.10)

… Flats:  RENE.L and VYGR

 

Daily analytics:

  • The Dow rose +0.38% or +95.02 to 25.241.41
  • The S&P 500 down by 0.1% or -1.98 points to 2,770.37
  • The NASDAQ snapped a four-day winning streak dropping - 0.7% or -54.17 points to 7,635.07 — a day after closing at an all-time high

 

The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,

  • Thursday traded at 12.13, up +4.21%
  • Wednesday traded at 11.64, down -6.13%
  • Tuesday traded at 12.45, down -2.28%
  • Monday traded at 12.74, down -5.35%
  • Friday traded at 13.46, down -12.77%
  • Last Thursday traded at 15.43, up +3.38%

 

The iShares Russell 2000 (IWM) closed:

  • Thursday was down -0.55%;
  • Wednesday was up +0.71%;
  • Tuesday was up +0.61%;
  • Monday was up +0.53%;
  • Friday was up +0.65%
  • Last Thursday was down -0.84%

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Thursday was down -0.69%
  • Wednesday was up +1.25%
  • Tuesday was up +0.03%
  • Monday was down -0.65%
  • Friday was up +1.28%
  • Last Thursday was down -0.06%

 

The count in June - decliners versus gainers:

……. look at the differences in decliners:

  • Thursday’s decliners ranged from -0.08% < BOLD -$0.03> to -23.39% < MDXG -$1.92> in 34 equities;
  • Wednesday’s decliners ranged from -0.02% <SAGE -$0.03> to -4.75% <MESO -$0.28 > in 17 equities;
  • Tuesday’s decliners ranged from -0.13% <BOLD -$0.05> to -4.90% <ADRO -$0.35> in 14 equities;
  • Monday’s decliners ranged from -0.13% <OSIR -$0.01 > to -6.80% <RGNX -$3.65 > in 18 equities;
  • Friday’s decliners ranged from -0.09% <IONS -$0.04 > to -26.40% <ONVO -$0.52 > in 15 equities;
  • Last Thursday’s decliners ranged from -0.29% <BMRN -$0.26 > to -6.36% <CRSP -$4.68 > in 18 equities;

Versus

… Look at the percentage’s (%) and spreads …

  • Thursday’s gainers ranged from +0.38% <FIXX +$0.08 > to +9.96% < MESO +$0.56> in 9 equities;
  • Wednesday’s gainers ranged from +0.08% < SLDB +$0.02> to +12.32% <VSTM +0.68 > in 24 equities;
  • Tuesday’s gainers ranged from +0.02% < ALNY +$0.02> to +8.99% <RGNX +$4.50 > in 30 equities;
  • Monday’s gainers ranged from +0.59% <CUR +$0.01 > to +8.90% <BLUE +$8.90 > in 25 equities;
  • Friday’s gainers ranged from +0.25% <CLBS +$0.01> to +9.09% <BSTG +$0.25 > in 29 equities;
  • Last Thursday’s gainers ranged from +0.15% <FIXX +$0.03 > to +67.39% < AXGN +$2.95> in 24 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.