August 14, 2018 5:06pm
Yodalayhe, yodayahehoo
We’re back ridin’ high and to the upside
Pre-open indications: as I had stated “there are many OVERSOLD”
Out and about: The “hits” just keep on coming - Insurer (Blue Cross/Blue Shield operations covering 15 million members in Illinois, Montana, New Mexico, Oklahoma and Texas) stops reimbursing for some MiMedx (MDXG) injectable products.
It’s an honor to be considered the “canary in the (sectors) coal mine”! I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors in the perception of sector vulnerabilities and strengths – it’s more than opinion, the facts and truth need to be recognized!
Today's a freebee ...
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Henry’omics:
Sector stocks rose on Tuesday in a rebound for “our” universe from yesterday’s low - lifting investor sentiment.
These short lived carousel rides are getting monotonous but, it is earning’s season of LPS (loss-per-share) showings and the best of it – in most cases cash positions are higher and “runways” longer!
Those laggards should be avoided - review the reporting list!
The reason the sector is bouncing is because investors can’t get their portfolios around risk and traders are just playing the ups and loading on the downs for them to become oversold to sell!
From the pre-open newsletter: “it’s a bouncer after yesterday’s trounce; show me that the “upside” resonates.”
I had also stated, “Get us - investors OFF the carousel; Alnylam Pharmaceuticals (ALNY) achieves a "first-of-kind" approval and DROPS -$6.42. Is this what we invest for a downgrade? ALNY closed UP +$2.23 to $93.19!
Daily analytics and metrics:
- The Dow rose 112.22 points to close at 25,299.92,
- The S&P 500 gained 0.6% to 2,839.96,
- The NASDAQ advanced 0.7% closing at 7,870.89.
Of the 45 companies covered on Tuesday; 13 downside equities finished in a range of -$0.04 (VSTM) to -$1.79 (BOLD) while the 28 upside equities oscillated from +$0.02 (ATHX) to $2.85 (ONCE) with 4 flat closes (AST, RARE, RENE.L and BSTG).
The advance/decline line scenario of 45 covered companies:
- The open was positive with an A/DL of 27/11 and 7 flats;
- The mid-day was positive with an A/DL of 26/15 and 4 flats;
- The close was positive with an A/DL of 28/13 and 4 flats;
Volume anomalies (by the numbers) were higher than the 3 month average:
- Volume to the upside = FIXX, HSGX, ONCE, IONS and SGMO
- Volume to the downside = OSIR, BOLD and RGNX
MY working trend (5 largest) lines:
… The greatest volume to the downside: MDXG, VSTM, RGNX, BOLD and VCEL
… Upside volume was weighted to: SGMO, ONVO, ALNY, IONS and ONCE
… Leadership ($) to the downside: BOLD (-$1.79), MDXG (-$0.51), OSIR (-$0.50), RGNX (-$0.45) and VCEL (-$0.38)
… Best moves ($) to the upside: ONCE (+$2.85), ALNY (+$2.23), FIXX (+$1.16), IONS (+$1.01) and GBT (+$1.25)
… Flats: BSTG and RENE.L
August, the weekly count - decliners versus gainers – looks at the percentage (%) view from a different angle:
……. look at the differences in decliners:
- Tuesday’s decliners ranged from -1.43% <AST -$0.03> to -11.11% <MDXG -$0.51> in 13 equities;
- Monday’s decliners ranged from -0.08% <CRSP -$0.04> to -8.66% <CUR -$0.108> in 24 equities;
- Thursday’s decliners ranged from -0.11% < GBT -$0.05> to -5.46% <RGNX -$3.85 > in 14 equities;
- Wednesday’s decliners ranged from -0.35% <RGNX -$0.25> to -15.19% <VYGR -$3.07> in 25 equities;
- Last Tuesday’s decliners ranged from -0.26% <KOOL -$0.001> to -27.83% <ONCE -$21.60> in 14 equities;
- Versus
… Look at the percentage’s (%) and spreads …
- Tuesday’s gainers ranged from +0.26% < BLUE +$0.40> to +7.40% < FIXX +$1.16> in 28 equities;
- Monday’s gainers ranged from +0.11% <NTLA +$0.03 > to +7.17% <HSGX +$0.175> in 19 equities;
- Friday’s gainers ranged from +0.16% <BLCM +$0.01 > to +12.90% <AST +0.20> in 24 equities;
- Thursday’s gainers ranged from +0.31% <ONCE +$0.18> to +11.30% <VSTM +$0.88 > in 29 equities;
- Wednesday’s gainers ranged from +0.25% <BCLI +$0.01 > to +9.25% <BSTG +$0.31> in 16 equities;
- Last Tuesday’s gainers ranged from +0.43% < CRSP +$0.21> to +25% <VCEL +$2.55> in 29 equities;
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market
- Tuesday traded at 13.23, down -10.49%
- Monday traded at 14.78, up +12.31%
- Friday traded at 13.16, up +16.77%
- Thursday traded at 11.20, up +3.23%
- Wednesday traded at 10.85, down -0.73%
- Last Tuesday traded at 10.93, down -3.02%
The iShares NASDAQ Biotechnology (IBB) closed:
- Tuesday was up +0.56%
- Monday was down -0.15%
- Friday was down -0.55%
- Thursday was down -0.15%
- Wednesday was down -0.70%
- Last Tuesday was up +1.23%
August sessions:
Tuesday closed POSITIVE with 13 decliners, 28 advancers and 4 flat;
Monday closed NEGATIVE with 24 decliners, 19 advancers and 2 flat;
Friday closed POSITIVE with 19 decliners, 24 advancers and 2 flat;
Thursday closed POSITIVE with 14 decliners, 29 advancers and 2 flat;
Wednesday closed NEGATIVE with 25 decliners, 16 advancers and 4 flat;
Tuesday closed POSITIVE with 14 decliners, 29 advancers and 2 flat;
Monday closed POSITIVE with 19 decliners, 24 advancers and 2 flat;
Friday closed NEGATIVE with 37 decliners, 4 advancers and 4 flat;
Thursday closed POSITIVE with 16 decliners, 27 advancers and 2 flat;
Last Wednesday (8/1) closed NEGATIVE with 23 decliners, 21 advancers and 1 flat;
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.
