August 16, 2018 5:53pm

Many bought the dips but, is it a set-up for an aftershock of harvesting quick gains on low volume?

 

Pre-open indications: “I believed the oversold would be recognized and there were too many to list” resulting with 27 advancers and 16 decliners after Wednesday’s 36 decliners and 6 advancers … on target yet again!

 

As the leading voice of investors; I am not always a doom and gloom reporter but a man who has been “there” with the gray hair and a readership following of real numbers to prove it!

A “buck” a day keeps your portfolio in the play - you should have a subscriber!

 

Henry’omics:

From the pre-open newsletter: “hoping and praying for a rebound of the oversold. Investors are caught between short and shorter time frames in share pricing scenarios.”

 

I had also stated, “If words can mitigate the issues of tariffs; what will creating cures do for disease especially in those countries whose borders are opened, closed to be opened again!”

Sessions have been alternating as sector stocks closed higher on…

  • Thursday closed POSITIVE with 16 decliners, 27 advancers and 2 flats as
  • Wednesday closed NEGATIVE with 36 decliners, 6 advancers and 3 flat;
  • Tuesday closed POSITIVE with 13 decliners, 28 advancers and 4 flat and
  • Monday closed NEGATIVE with 24 decliners, 19 advancers and 2 flat.

It’s a summer Friday, I’d be profiting on the gene editing companies – CRSP, EDIT and NTLA!

I’d also be looking at SELLING: GBT, SAGE

And considering BUYING: IONS

 

Of the 45 companies covered on Thursday; 16 downside equities finished in a range of -$0.01 (PSTI) to -$1.49 (BMRN) while the 27 upside equities oscillated from +$0.01 (CLBS) to $2.94 (CRSP) with 2 flat closes (ADRO and AGTC).

 

Daily analytics and metrics:

  • The Dow rose 396.39 points or +1.58% to 25,558.80 — on track for its biggest one-day gain since April 10;
  • The S&P 500 gained 22.32 points or +0.79% to2, 840.69
  • The NASDAQ jumped 32.41 points or +0.42% to 7,806.52

 

The advance/decline line scenario of 45 covered companies:   

  • The open was negative with an A/DL of 12/31 and 2 flats;
  • The first hour began the positive comeback with an A/DL of 32/12 and 1 flat;
  • The mid-day was positive with an A/DL of 32/11 and 2 flats;
  • The close was positive with an A/DL of 27/16 and 2 flats;

 

MY working trend (5 largest) lines:

… The greatest volume to the downside:  MDXG, BMRN, AXGN, BOLD and ADVM

… Upside volume was weighted to:  VSTM, SGMO, GBT, CRSP and XON

… Leadership ($) to the downside:  BMRN (-$1.49), RENE.L (-$1.00), AXGN (-$0.95), MDXG (-0.45) and BLFS (-$0.37)

… Best moves ($) to the upside:  CRSP (+$2.94), GBT (+$2.00), SAGE (+$2.00), BLUE (+$1.90) and ONCE (+$1.88)

… Flats:  ADRO and AGTC

 

Volume anomalies (by the numbers) were higher than the 3 month average:

  • Volume to the upside = HSGX, BLUE, ONCE and GBT
  • Volume to the downside = AXGN and MDXG

 

The CBOE Volatility Index (VIX) widely considered the best gauge of volume:

  • Thursday traded at 13.45, down -8.13%
  • Wednesday traded at 14.64, up +9.99%
  • Tuesday traded at 13.23, down -10.49%
  • Monday traded at 14.78, up +12.31%
  • Friday traded at 13.16, up +16.77%
  • Last Thursday traded at 11.20, up +3.23%

 

The iShares NASDAQ Biotechnology (IBB) closed:

  • Thursday was up +0.77%
  • Wednesday was down -1.56%
  • Tuesday was up +0.56%
  • Monday was down -0.15%
  • Friday was down -0.55%
  • Last Thursday was down -0.15%

 

August sessions:

Thursday closed POSITIVE with 16 decliners, 27 advancers and 2 flat;

Wednesday closed NEGATIVE with 36 decliners, 6 advancers and 3 flat;

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.