September 13, 2019 6:57am

Just when we were making headline back from depreciated value

As I had stated the “electronic trading and algorithms were waiting for strength to sell into

there ought to a law ..T

It’s not hard to be right so often, it’s about refining expectation, defining insight and trusting your “gut” versus the machines or algorithms


 

 

Don’t get comfortable, today’s market impacts Friday; If you were a subscriber … you would understand why! It's a daunting task to understand risk and seeing the unforeseen!  

 

Markets and indexes:

  • The Dow closed up +45.41 points or +0.17% to 27,182.45;
  • The S&P closed up +8.64 points or +0.29% at 3,009.57;
  • The NASDAQ was up +24.79 or +0.30% to 8,194.47;

 

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Thursday the IBB closed down -0.61% while the XBI also closed down -0.75%
  • Wednesday the IBB closed up +1.78% while the XBI also closed up +1.65%
  • Tuesday the IBB closed up +1.15% while the XBI also closed up +2.47%
  • Monday the IBB closed down -0.41% while the XBI also closed down -0.15%

 

Henry’omics:

The sector’s strength got sold into while markets rose on Thursday, approaching another record level digesting a slew of U.S. - China trade news along with a large bond buying program from Europe's central bank.

The Dow posted a seven-day winning streak while the S&P 500 notched its third straight gain as the NASDAQ advanced one session.

Because … stocks were subject to a brief bout of volatility earlier sending indexes to their session highs; the major indexes later pared those gains after a senior White House official is “absolutely not” considering an interim deal with China.

 

 I want to be a "BUSTER", a breaker of algorithmic rules ro disable electonic trading's constant stripping of our universe or sector's value!

There are ways ... my new theme .... exploration to distort the distorting!

 

The advance/decline line scenario of 45 covered companies:  

  • Thursday the close was negative with an A/D Line of 17/26 and 0 flats and 2 acquired;
  • Wednesday the close was positive with an A/D Line of 26/15 and 2 flats and 2 acquired;
  • Tuesday the close was positive with an A/D Line of 31/10 and 2 flats and 2 acquired;
  • Monday the close was positive with an A/D Line of 25/18 and 0 flat and 2 acquired;

 

Decliners:

  • Adverum (ADVM -$6.04 (-50.33%) ;
  • Alnylam Pharmaceuticals ( ALNY -$30.09 after Wednesday’s +$1.90, Tuesday’s +$1.58 and Monday’s +$2.87;
  • Fate Therapeutics (FATE -$0.94 after Wednesday’s -$0.71) after announcing an offering
  • Homology Medicine (FIXX -$0.75);
  • AxoGen (-$0.63);

Incliners:

  • ReNeuron (RENE.L +$9.00 after Wednesday’s -$5.00 and Tuesday’s -$5.00);
  • Spark Therapeutics (ONCE +$3.59);
  • Regenxbio (RGNX +$2.18);
  • Ionis Pharmaceuticals (IONS +$2.05 after Wednesday’s +$2.04, Tuesday’s+$2.67 and Monday’s -$1.63);
  • bluebird bio (BLUE +$2.03 after Wednesday’s-$0.71 after Tuesday’s +$2.14);

 

The percentage (%) indicators: 

  • Thursday’s range of the 17 upside was +0.20% (GBT) to +5.83% (RGNX) while the 26 downside ranged from -0.25% (BCLI) to -50.33% (ADVM);
  • Wednesday’s range of the 26 upside was +0.31% (ONCE) to +10.29% (KOOL) while the 15 downside ranged from -0.12% (HSGX -$0.003) to -3.72% (FATE);
  • Tuesday’s range of the 31 upside was +0.26% (BLFS) to +20.87% (MESO) while the 10 downside ranged from -0.44% (STML) to -11.66% (HSGX);
  • Monday’s range of the 25 upside was +0.22% (BLUE) to +16.81% (KOOL) while the 18 downside ranged from -0.25% (RENE.L) to -5.84% (AXGN);

 

Upside volume stats:  to compare

  • Thursday: 7 out of the 17 upside had higher than the 3 month average volume;
  • Wednesday: 10 out of the 26 upside had higher than the 3 month average volume;
  • Tuesday: 9 out of the 31 upside had higher than the 3 month average volume;
  • Monday: 10 out of the 25 upside had higher than the 3 month average volume;

Downside volume stats:

  • Thursday: 6 out of the 25 downside had higher than the 3 month average volume;
  • Wednesday: 5 out of the 15 downside had higher than the 3 month average volume;
  • Tuesday: 7 out of the 10 downside had higher than the 3 month average volume;
  • Monday: 6 out of the 18 downside had higher than the 3 month average volume;

 

0 flat – with 2 acquired (AST & OSIR) and with the Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed (SEPTEMBER?)

 

September’s sessions:

Thursday closed NEGATIVE with 26 decliners, 17 advancers, 0 flats and 2 acquired (AST & OSIR);

Wednesday closed POSITIVE with 15 decliners, 26 advancers, 2 flats and 2 acquired (AST & OSIR);

Tuesday closed POSITIVE with 10 decliners, 31 advancers, 2 flats and 2 acquired (AST & OSIR);

Monday closed POSITIVE with 18 decliners, 25 advancers, 0 flat and 2 acquired (AST & OSIR);

Friday closed NEGATIVE with 26 decliners, 16 advancers, 1 flat and 2 acquired (AST & OSIR);

Thursday closed POSITIVE with 11 decliners, 31 advancers, 1 flat and 2 acquired (AST & OSIR);

Wednesday closed POSITIVE with 20 decliners, 22 advancers, 1 flat and 2 acquired (AST & OSIR);

Tuesday closed NEGATIVE with 29 decliners, 12 advancers, 2 flats and 2 acquired (AST & OSIR);

Monday was Labor Day

 

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.