May 3, 2019 6:58pm
Friday’s session “shook-out” some of the negative sentiment as the NASDAQ “rolled” after job’s report although volume was still low
Pre-open indications: 5 HITs and 2 MISS (ATHX & VSTM - again)
I don’t have to be reminded of my motto: “Duty, Honor and Shareholders” – while many have disremembered who they really work for – it’s also up to analysts to bring to the surface “irregularities” of certain investors and companies that conceal the complicities of their actions!
RMi outlines preludes and aftermaths defining the daily dose of factors, investment thesis and objectivity!
Markets and indexes:
- The Dow closed up +197.16 points or +0.75% to 26,504.95
- The S&P closed up +28.12 points or +0.96% at 2,945.64
- The NASDAQ was up +127.22 points or +1.58% to 8,184.00
Henry’omics:
The sector rebounding from a three (3) session loss with the week ending on a high note after economic “numbers” stroked the markets with data showing U.S. job creation was stronger than expected in April!
- The U.S. added a robust 263,000 new hires in April while the unemployment rate fell to 3.6%, the lowest since December’69, according to a Labor Department report. The nonfarm payroll growth far outpaced “street” expectations of 190,000 and a 3.8% jobless rate.
Setting the upward trend was ReNeuron (RENE.L +$30.00) while the downside reflected the decline of Alnylam Pharmaceuticals (ALNY -$5.25)
The rally powered the NASDAQ to an all-time high for the second time this week. The S&P 500 finished just shy of the record high close it reached on Tuesday.
As the Russell 2000 index of smaller company stocks added 31.37 points, or 2%, to 1,614.02.
For the week:
- The S&P 500 rose 5.76 points, or 0.2%.
- The Dow fell 38.38 points, or 0.1%.
- The NASDAQ gained 17.60 points, or 0.2%.
- The Russell 2000 added 22.21 points, or 1.4%.
For the year:
- The S&P 500 is up 438.79 points, or 17.5%.
- The Dow is up 3,177.49 points, or 13.6%.
- The NASDAQ is up 1,528.72 points, or 23%.
- The Russell 2000 is up 265.46 points, or 19.7%.
Pre-open post, “now that it’s May, employment data sounds-off; as far as the sector, show me the upside.”
I also stated, “It’s still a battle of trust versus conviction … in these trying sessions of quarterly result’s reporting.”
The advance/decline line scenario of 45 covered companies:
- The open was positive with the A/DL at 27/12, 4 flats and 2 acquired (AST & OSIR);
- The mid-day was positive with an A/DL of 33/10 and 0 flat and 2 acquired;
- The close was positive with an A/DL of 37/4 and 2 flat and 2 acquired;
My pre-open indications: 5 HITs and 2 MISS
- Athersys (ATHX) closed up $0.04 – hit;
- CRISPR Therapeutics (CRSP) closed up +0.29 – hit;
- Editas Medicine (EDIT) closed up +$1.08 – hit;
- Intellia Therapeutics (NTLA) closed up +$1.01 – hit;
- ReNeuron holdings (RENE.L) closed up +$20.00 – hit;
- Verastem Oncology (VSTM) closed down again -$0.03 – miss;
Cell and gene therapy company’s worst-performers were:
- Friday: ALNY (-$5.25), AGTC (-$0.09), VSTM (-$0.03) and KOOL (-$0.0014)
- IONS (-$1.36), SAGE (-$1.24), BMRN (-$0.83), ALNY (-$0.49) and BOLD (-$0.33)
- Wednesday: RENE.L (-$30.00), ALNY (-$6.31), BLUE (-$2.21), GBT (-$1.96) and RARE (-$1.84)
- 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:
- Friday: RENE.L (+$20.00), RARE (+$2.86), SAGE (+$1.82), RGNX (+$1.82) and BLUE (+$1.34);
- RENE.L (+$15.00), BLUE (+$2.36), CRSP (+$1.46), RGNX (+$1.26) and QURE (+$1.09);
- Wednesday: QURE (-$0.91), AXGN (-$0.47), BLFS (+$0.44), SLDB (+$0.43), ADRO (+$0.12);
- 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 37 upside was +0.33% (HSGX +$0.0006) to +6.78% (RENE.L) while the 23 downside ranged from -0.53% (KOOL -$0.0014) to -5.25% (ALNY)
Upside volume stats: review the numbers, there is a message …
- Friday: 3 out of the 37 upside had higher than the 3 month average volume;
- Thursday: 2 out of the 17 upside had higher than the 3 month average volume;
- Wednesday: 2 out of the 12 upside had higher than the 3 month average volume;
- 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: here is where the session landing is expressed …
- Friday: 2 out of the 4 downside had higher than the 3 month average volume
- Thursday: 5 out of the 23 downside had higher than the 3 month average volume;
- Wednesday: 8 out of the 30 downside had higher than the 3 month average volume;
- Tuesday: 5 out of the 8 downside had higher than the 3 month average volume;
- Monday: 2 out of the 20 downside had higher than the 3 month average volume
2 flat – BCLI and BTX - with 2 acquired (AST & OSIR)
The iShares NASDAQ Biotechnology (IBB) indicator:
- Friday closed up +1.82%
- Thursday closed up +0.40 %
- Wednesday closed down -0.81%
- Tuesday closed down -0.83%
- Monday closed down -0.08%
- Last Friday closed up +0.65%
May’s first week’s sessions:
Friday closed POSITIVE with 4 decliners, 37 advancers, 2 flat and 2 acquired (AST & OSIR);
Thursday closed NEGATIVE with 23 decliners, 17 advancers, 3 flat and 2 acquired (AST & OSIR);
Wednesday (5/1) closed NEGATIVE with 30 decliners, 12 advancers, 1 flat and 2 acquired (AST & OSIR);
Tuesday (4/30) closed NEGATIVE with 35 decliners, 8 advancers, 0 flat and 2 acquired (AST & OSIR);
Monday (4/29) closed POSITIVE with 20 decliners, 22 advancers, 1 flat and 2 acquired (AST & OSIR);
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.
