September 14, 2017 7:55am
A few bounce- backs from being oversold …
Downturns can be prospects in a maddening sector and a weak market
Why do we have to read between, above and under the lines to see a problem arising or an action candidate?
Preview RMi's morning call. You’d be reading this if you were a SUBSCRIBER!
Pre-open indications: 6 BUY and 0 SELLs
If you had been right as many times as I have been in these many months of 2017 as a SUBSCRIBER you would know when to get in and out or get back in again!
It’s called premium content for a reason: I reporting the truth in this sector!
A critical pre-market indication ahead of “our” universe’s open!
Weak open expected
Dow futures are DOWN -0.01% and NASDAQ futures are DOWN -0.10%
U.S. stock index futures pointed to a marginally lower open on Thursday as traders awaited the release of key economic data.
European markets were mixed as investors assessed geopolitical developments and looked ahead to the Bank of England's latest policy decision.
Asia indexes closed lower after the release of softer-than-expected China data. Markets also digested the rise in U.S. Treasury yields overnight following tax reform headlines out of Washington.
Data docket: with the weekly report on initial jobless claims and the monthly report on inflation both due out in the morning.
Issues that affect the trading day: On the political front, President Donald Trump and top Democrats appear to be nearing a deal to give legal status to the children of illegal migrants, but also were disputing what they had agreed on so far. Trump tweeted early Thursday that no deal had been reached yet, after Democrats late Wednesday said they had an agreement with him to enact protections for “Dreamers” in exchange for increased border security measures that don’t include funding for a wall.
The cell therapy sector closed POSITIVE on Wednesday, NEGATIVE on Tuesday, POSITIVE on Monday, Friday and last Thursday.
The cell therapy sector’s record over the last 5 sessions (of 43 covered companies):
· Wednesday closed POSITIVE with 15 decliners, 27 advancers and 1 flat;
· Tuesday closed NEGATIVE with 28 decliners, 14 advancers and 1 flat;
· Monday closed POSITIVE with 20 decliners, 23 advancers and 0 flats;
· Friday closed POSITIVE with 16 decliners, 19 advancers and 8 flats
· Last Thursday closed POSITIVE with 11 decliners, 28 advancers and 4 flats;
Henry ’omics:
From last night’s (Wednesday) post… “First the pain and then the gain … Wednesday’s upside burst follows Tuesday’s downslide. The sector’s memory is oriented to a short-term oversold condition.”
The three major indexes all closed at records Tuesday. The S&P 500 edged to a high of 2496, a short hop from 2500, which is a key psychological level that could bring in more buyers in the next couple of days.
Where we are, we are – let’s see if we can break the mold and get off of the seesaw …
You’ve made it to the office, turned on the monitor, having just gotten your coffee and it hits you - what could be today’s trades?
Watch list:
- The iShares Nasdaq Biotechnology (IBB) closed down -0.33% on Wednesday and Thursday’s pre-market is NOT indicating;
- The SPDR S&P Biotech ETF (XBI) closed Wednesday up +0.04% and is NOT indicating in Thursday’s pre-market%;
- The Health Care Select Sector SPDR ETF (XLV) closed down -0.37% on Wednesday and is NOT indicating in Thursday’s pre-open;
- The iShares Russell 2000 (IWM) closed up +0.30% on Wednesday and is indicating a NEGATIVE -0.05% in Thursday pre-open
Companies in my headlights:
bluebird bio (BLUE) closed down -$1.85 to $126.05. The aftermarket indication is a positive +$0.55 or +0.44% - just might be an act on the dip day – BUY;
Histogenics (HSGX) closed up +$0.10 to $2.14 with 366.2 K shares traded <3 month average = 63.6 K shares>. The aftermarket indication is a positive +$0.02 or +0.94% - BUY;
MiMedx (MDXG) closed down -$0.76 to $13.40 with 4.5 M shares traded <3 month average = 1.5 M shares>. September started at $16.53 with a high of $16.73 and a low of $13.40; while August opened at $14.96 and July at $14.98 – there’s history. MDXG could be a good bounce-back candidate after a share price trouncing in an up market. The aftermarket indication is a positive +$0.10 or +0.75% - BUY
Spark Therapeutics (ONCE) closed down -$0.66 to $81.68 with 392.3 K shares traded <3 month average = 490.7 K shares>. Another bounce-back candidate – BUY;
Pluristem (PSTI) closed up +$0.12 to $1.35. The pre-market indication is a positive +$0.03 or +2.44%. There is a first for everything, me actually recommending PSTI but, the numbers speaks for themselves – BUY;
Verastem (VSTM) closed up +$0.01 to $5.24. The aftermarket indication is a positive +$0.27 or +5.14%. VSTM has kept the candle burning shedding light on the share price which even I thought would diminish – BUY;
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.
