April 30, 2019 6:01pm
The Advance/Decline (A/D) line was negative with an A/DL of 8/35 and 0 flat and 2 acquired as compared to Monday’s positive A/DL of 22/20 and 1 flat and 2 acquired;
Pre-open indications: 5 HITs and 1 MISS (VSTM)
The sector is what it is, until it isn’t and even then it doesn’t seem to be … when you point one finger, there are three fingers pointing back at you!
Markets and indexes:
- The Dow closed up +38.52 points or +0.15% to 26,592.91
- The S&P closed up +2.80 points or +0.10% at 2,945.83
- The NASDAQ was down -54.09 points or -0.66% to 8,107.77
Henry’omics:
The NASDAQ retreated taking “our’ universe down with it …
The uncertainty of share pricing sustainability has become more evident by today’s moves!
Earning’s sentiment seems to being expressed early with only two (2) reporting of my 45 covered companies and both dived to the mat post reporting.
What happened today … the markets dipped in the morning but regained ground in the afternoon.
The Dow ended a strong month for stocks up 2.6% in April, while the S&P 500 gained 3.9% and the NASDAQ moved up +4.9%.
This week’s focal point will be the Fed’s policy decision and press conference on Wednesday. Fed watchers will be closely monitoring if the central bank changes its dovish tone and how it plans to proceed with its balance sheet reduction program.
Pre-open post, “Pharma’s report, Merck (MRK), Ely Lilly (LLY) and Pfizer (PFE); all three (3) beat estimates with pre-market indications and guidance.”
The advance/decline line scenario of 45 covered companies:
- The open was barely positive with the A/DL at 20/19, 4 flats and 2 acquired (AST & OSIR);
- The mid-day was negative with an A/DL of 6/37 and 2 flat and 2 acquired;
- The close was negative with an A/DL of 8/35 and 0 flat and 2 acquired;
My pre-open indications: 5 HITs and 1 MISS
- Athersys (ATHX) closed down -$0.05 – hit;
- CRISPR Therapeutics (CRSP) closed down -$0.09 - hit;
- Editas Medicine (EDIT) closed down -$1.52 – hit;
- Intellia Therapeutics (NTLA) closed down -$0.95 – hit;
- ReNeuron holdings (RENE.L) closed down -$15.00 – hit;
- Verastem Oncology (VSTM) closed down -$0.10 – miss;
Cell and gene therapy company’s worst-performers were: comparisons ...
- RENE.L (-$15.00), SAGE (-$2.16), EDIT (-$1.52), RARE (-$1.47) and RGNX (-$1.09);
- Monday: BLUE (-$2.00), BOLD (-$1.54), EDIT (-$1.49), GBT (-$1.17) and RGNX (-$1.15);
Sector equities posting gains were:
- AXGN (+$1.73), BLUE (+$0.83), ALNY (+$0.81), BSTG (+$0.50) and ADRO (+$0.19);
- Monday: RENE.L (+$15.00), SAGE (+$1.70), ALNY (+$1.47), BMRN (+$0.64) and BLFS (+$0.45);
Tonight’s percentage (%) indicators:
- Range of the 8 upside was +0.04% (GBT) to +25% (BSTG) while the 35 downside ranged from -0.07% (IONS) to -5.82% (NTLA)
Upside volume stats: review the numbers, there is a message …
- Tuesday: 5 out of the 8 upside had higher than the 3 month average volume
- Monday: 8 out of the 22 upside had higher than the 3 month average volume
Downside volume stats:
- Tuesday: 7 out of the 35 downside had higher than the 3 month average volume;
- Monday: 2 out of the 20 downside had higher than the 3 month average volume
0 flat with 2 acquired (AST & OSIR)
The iShares NASDAQ Biotechnology (IBB) indicator:
- Tuesday closed down -0.83%
- Monday closed down -0.08%
- Friday closed up +0.65%
- Thursday closed up +1.01%
- Wednesday closed down -1.09%;
- Last Tuesday was down -1.09%;
April sessions:
Tuesday closed NEGATIVE with 35 decliners, 8 advancers, 0 flat and 2 acquired (AST & OSIR);
Monday closed POSITIVE with 20 decliners, 22 advancers, 1 flat and 2 acquired (AST & OSIR);
Friday closed POSITIVE with 16 decliners, 26 advancers, 1 flat and 2 acquired (AST & OSIR);
Thursday closed POSITIVE with 18 decliners, 23 advancers, 2 flat and 2 acquired (AST & OSIR);
Wednesday closed NEGATIVE with 29 decliners, 13 advancers, 1 flat and 2 acquired (AST & OSIR);
Tuesday closed POSITIVE with 4 decliners, 36 advancers, 3 flat and 2 acquired (AST & OSIR);
Monday closed NEGATIVE with 22 decliners, 20 advancers, 1 flat and 2 acquired (AST & OSIR);
Friday was a market holiday;
Thursday closed NEGATIVE with 34 decliners, 7 advancers, 2 flat and 2 acquired (AST & OSIR);
Wednesday closed NEGATIVE with36 decliners, 7 advancers, 0 flat and 2 acquired (AST & OSIR);
Tuesday closed POSITIVE with 17 decliners, 23 advancers, 4 flat and 1 acquired (AST);
Monday closed NEGATIVE with 29 decliners, 14 advancers, 1 flat and 1 acquired (AST);
Friday closed NEGATIVE with 22 decliners, 21 advancers, 1 flat and 1 acquired (AST);
Thursday closed NEGATIVE with 32 decliners, 11 advancers, 1 flat and 1 acquired (AST);
Wednesday closed POSITIVE with 10 decliners, 33 advancers, 1 flat and 1 acquired (AST);
Tuesday closed NEGATIVE with 34 decliners, 9 advancers, 1 flat and 1 acquired (AST);
Monday closed NEGATIVE with 24 decliners, 18 advancers, 3 flat and 1 acquired (AST);
Friday closed POSITIVE with 12 decliners, 31 advancers, 1 flat and 1 acquired (AST);
Thursday closed NEGATIVE with 30 decliners, 14 advancers, 0 flat and 1 acquired (AST);
Wednesday closed POSITIVE with 16 decliners, 27 advancers, 1 flat and 1 acquired (AST);
Tuesday closed POSITIVE with 11 decliners, 32 advancers, 1 flat and 1 acquired (AST);
Monday (4/1) closed POSITIVE with 19 decliners, 23 advancers, 2 flats and 1 acquired (AST);
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.
