September 27, 2018 6:29pm

Equity moves are trading on very low volume as many focus on the Supreme Court hearing

As I had stated, “Let’s shed some light on the oversold, of which there are many.”

 

Pre-open indications:  1 HITs and 1 MISS

 

Out and about: Regaining altitude,

 

RMi is putting the facts into evidence for the metrics to “speak”!

A daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined and evaluated.

Henry’omics:

We’re seeing a little bit of a rebound from yesterday and other recent selling.

Sector equities closed higher as investors focus on the oversold!

Political issues were also playing out on the sidelines as the hotly anticipated hearing of Supreme Court nominee Brett Kavanaugh continued Thursday with testimony from his sexual-assault accuser Christine Blasey Ford.

  • The hearing has no direct relevance on the economy—though some have speculated that whether Kavanaugh is confirmed could influence turnout in the midterm elections.

From the pre-open newsletter: “the numbers are king but, they do bite. How many of us will be watching the Senate hearings than be paying attention to the sector and market. Let’s shed some light on the oversold, of which there are many.”

As I had stated, “Could trading be lessened during the hotly anticipated hearing of Supreme Court nominee Brett Kavanaugh?”

One more day to the end of September and Q3 …!!

 

Daily analytics and metrics:

  • The Dow closed up +54.65 points or +0.21% to 26,439.93
  • The S&P closed 8.03 points and +0.28% to 2,914.00
  • The NASDAQ closed up +51.60 points or +0.65% to 8,041.97

 

The advance/decline line scenario of 45 covered companies:   

  • The open was positive with an A/DL of 28/15 and 2 flat;
  • The mid-day continued positive with an A/DL of 26/18 and 1 flat;
  • The close was positive with an A/DL of 25/19 and 1 flat;

 

Pre-open indications:

  • Applied Genetic Technologies (AGTC) closed up +$0.85- miss;
  • Fate Therapeutics (FATE) closed up +$0.34 – hit;

 

Of the 45 companies covered on Thursday; 19 downside equities finished in a range of -0.11% (BMRN) to -6.88% (RARE) while 25 upside equity oscillated from +0.16% (BLCM) to +13.08% (AGTC) with 1 flat closes (BTX).

 

Five (5) key metrics:  

… The greatest volume to the downside:  VSTM, HSGX, XON, ALNY, BMRN and GBT

… Upside volume was weighted to:  SGMO, MDXG, ATHX, AGTC and IONS

… Leadership ($) to the downside:  RARE (-$5.90), QURE (-$1.99), SAGE (-$1.87), ALNY (-$1.24) and GBT (-$0.95)

… Best moves ($) to the upside:  BLUE (+$5.65), RGNX (+$0.90), AGTC (+$0.85), SGMO (+$0.70) and CRSP (+$0.68)

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Thursday was up +1.04%
  • Wednesday was up +0.34 %
  • Tuesday was up +0.23 %
  • Monday was up +1.19%
  • Friday was down -0.62%
  • Last Thursday was up +1.39%

 

September sessions:

Thursday’s closed POSITIVE with 19 decliners, 25 advancers and 1 flat

Wednesday’s closed NEGATIVE with 32 decliners, 12 advancers and 1 flat 

Tuesday’s closed POSITIVE with 20 decliners, 23 advancers and 3 flat 

Monday’s closed POSITIVE with 13 decliners, 28 advancers and 4 flat 

Friday’s closed NEGATIVE with 32 decliners, 11 advancers and 2 flat 

Thursday’s closed POSITIVE with 10 decliners, 34 advancers and 1 flat 

Wednesday’s closed POSITIVE with 18 decliners, 24 advancers and 3 flats 

Tuesday’s closed POSITIVE with 7 decliners, 36 advancers and 2 flats 

Monday’s closed NEGATIVE with 31 decliners, 12 advancers and 2 flats 

Friday’s closed POSITIVE with 19 decliners, 23 advancer and 3 flats 

Thursday’s closed NEGATIVE with 22 decliners, 20 advancer and 3 flats 

Wednesday’s closed POSITIVE with 20 decliners, 25 advancer and 0 flats 

Tuesday’s closed POSITIVE with 20 decliners, 23 advancer and 2 flats 

Monday’s closed NEGATIVE with 28 decliners, 17 advancer and 2 flats 

Friday’s closed POSITIVE with 15 decliners, 23 advancer and 7 flats 

Thursday’s closed NEGATIVE with 39 decliners, 1 advancer and 5 flats 

Wednesday’s closed NEGATIVE with 30 decliners, 12 advancers and 3 flats 

Tuesday’s (9/4) closed NEGATIVE with 22 decliners, 19 advancers and 4 flats  

 

 

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.