July 2, 2018 8:22am

Anticipating a triple-digit drop in the market, two slow days with a mid-week holiday, low volume with a slight chance of pricing rectitude – what’s good about today (?), the IBB is UP +0.06% …

One can BUY as the down-slide cheapens and let sector equities ripen until their overbought next week

 

OUT and about: MiMedx (MDXG) announces BIG leadership changes

 

RMi reports the pricing component of pre-open indications that shed light on share pricing events and its follow-on value!

Want to know WHY, subscribe!

U.S. stock index futures tumble ahead of the open, as hostility surrounding trade escalates

Dow futures are DOWN -0.63% (-137 points) and NASDAQ futures are DOWN -0.85% (-47 points)

 

U.S. stock index futures slumped ahead of Monday’s open, as markets across the globe saw red on the back of ramping trade tensions.

European markets sharply lower on politics and trade concerns;

Asian stocks closed sharply lower as China markets recorded fresh losses on Monday.

 

Data docket: the manufacturing purchasing managers’ index (PMI) at 9:45 a.m. ET, followed by Manufacturing ISM report on business and construction spending at 10 a.m. ET.

 

Henry’omics:

 

Fears surrounding a potential trade war between the U.S. and other major economies continue to plague market sentiment around the world.

What’s good about today – another birthday and even that is an “ug”! If equities are cheaper than a hot dog and tastes like a burger – I’d bite but, I am staying away from predicting!

 

Today’s indications:

  • The iShares Nasdaq Biotechnology (IBB) is indicating an +0.06% upside in Monday’s pre-market;
  • The SPDR S&P Biotech ETF (XBI) is indicating a -0.07% downside in Monday’s pre-market;
  • The Health Care Select Sector SPDR ETF (XLV) is indicating a -0.55% downside in Monday’s pre-open;
  • The iShares Russell 2000 (IWM) is indicating a -0.64% downside in Monday’s pre-open

 

I always want to know what happened PRIOR to what might happen today – it sets a tone of consequence!

 

From Friday’s night’s newsletter: “final trading day of the month and end to the quarter; as I had stated this a.m. – “a strengthened advance/decline line (A/DL) (Thursday) … should be the basis for the oversold to stage a mild comeback while volume was low weighted to the downside.”

As I had stated, “Sector equities rose on Friday, the last trading day of the first half of the year, but still posted weekly losses as market sentiment soured!  Investors can THANK algorithm’s “rules”! The KEY for Q3 will be news; as the summer months will reduce “eyes” on the sector other than SPECULATION!”

The iShares NASDAQ Biotechnology (IBB) was up +1.73% after Thursday’s +0.57%,  Wednesday’s  -2.04%,  Tuesday’s -0.43% and last Monday’s -1.81% … with a negative aggregate of -1.98% - look for some upside in the first trading day of July.

Of the 45 companies covered on Friday; 20 downside equities finished in a range of -$0.0049 (KOOL) to -$2.25 (GBT) while the 20 upside equities oscillated from +$0.01 to $4.68 with 1 flat close.

Friday’s gainers ranged from +0.16% <MDXG -$0.01 > to +4.26% <XON -$0.57 > in 24 equities;

Friday’s decliners ranged from -0.05% < CRSP -$0.03> to -10% <AST -$0.15 > in 20 equities;

 

Out and about: A BIG broom sweeps all ...

The Board of Directors of MiMedx Group, Inc. (MDXG) announced that Parker H. "Pete" Petit has resigned from his roles as the Company's Chairman of the Board and Chief Executive Officer but currently remains a director on the Board. MiMedx also announced that William C. "Bill" Taylor has resigned as President and Chief Operating Officer and as a member of the MiMedx Board.

These resignations, which follow the recent departures of MDXG's Chief Financial Officer and Corporate Controller and Treasurer, are based on the Board of Directors' business judgment regarding the Company's leadership and direction, and arise, in part, from information the Audit Committee has identified through its previously announced independent investigation. This investigation is ongoing and there may be other actions taken based, at least in part, on information from the investigation.

The MiMedx Board of Directors has named Charles R. Evans, previously the lead independent director, as Chairman of the Board, effective immediately.

The Board has also appointed David Coles to serve as MDXG's interim Chief Executive Officer. Mr. Coles is a Managing Director with Alvarez & Marsal, a global professional services firm that advises and provides services to companies in areas that include corporate performance improvement, interim management, healthcare and corporate restructurings.

The Board of Directors has commenced a search to identify and evaluate internal and external candidates to serve as permanent CEO.

 

Companies in my headlights – It’s your decision; I provide the idea and context:

Ugly pre-open indications could spur too many low volume moves to the downside and upside!

 

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.