July 19, 2018 7:53am
A motive for appreciation or cause of concern “in the short run, the market is like a voting machine--tallying up which firms are popular and unpopular” <Ben Graham>.
Pre-open indications: 3 BUYs, 3 SELLs and 3 trades
RMi reports pre-open indications that shed light on share pricing events and today’s session values!
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U.S. stock index futures are down
Dow futures are DOWN -0.31% (-77 points) and NASDAQ futures are DOWN -0.34% (-26 point)
U.S. stock index futures pointed to a negative open on Thursday
European shares fell slightly
Asian markets close mixed as Chinese stocks extend losing streak
Data docket: jobless numbers due at 8:30 a.m. ET time and the Philly Fed manufacturing index
Henry’omics:
Traders will be eyeing President Trump ability to negotiate a trade deal with Mexico while hoping for a free trade deal from Europe?
- Re the title, “A voting machine counts votes. Votes are based on sentiment of people at a given time. Sentiment can change — and it's difficult to measure accurately. A weighing machine is much more precise and concrete — it's easy to measure weight accurately.
The value doesn't change quickly but when it does change a lot there is a noticeable physical difference. The metaphor suggests that in the short term prices are driven by sentiment while in the long term trends are driven by something you can actually measure more concretely — financial results.” <Will Wister>
- I also stated, “I might not always be right but, I am more than usually early and on target as I maintain my SELL on gene editing equities!”
Investors chase fads like gene editing companies and we have seen the stocks get manipulated in the short term.
- Thus, traders move in and out ...based on a number of factors momentum, volume etc witth ... popularity being one; that have little to do with the value of the company!
Today’s indications:
- The iShares Nasdaq Biotechnology (IBB) is NOT indicating in Thursday’s pre-market;
- The SPDR S&P Biotech ETF (XBI) is NOT indicating in Thursday’s pre-market;
- The Health Care Select Sector SPDR ETF (XLV) is NOT indicating in Thursday’s pre-open;
- The iShares Russell 2000 (IWM) is indicating a -0.24% decline in Thursday’s pre-open
From Wednesday’s night’s newsletter: “the thumb-screws are still on gene editing equities.”
The iShares NASDAQ Biotechnology (IBB) was DOWN -0.09% after Tuesday’s +0.75%, Monday’s -0.73%, Friday’s +0.17% and last Thursday’s +1.17% … for a weekly upside of +1.27% … in this market ETFs are also a weighing machine measuring the increments or balance of its components … which we use to measure performance – I think we are missing the count of what comprises this “derivative”.
I always want to know what happened PRIOR to what might happen today – it sets a tone of consequence!
- Of the 45 companies covered on Wednesday; 30 downside equities finished in a range of -$0.02 (ATHX) to -$3.50 (RENE.L) while the 13 upside equities oscillated from +$0.0006 (KOOL) to $3.10 (ALNY) with 2 flat closes;
- Wednesday’s gainers ranged from +0.14% <KOOL+$0.0006> to +4.13% <BTX +$0.095 > in 13 equities;
- Wednesday’s decliners ranged from -0.13% <RGNX -$0.10 > to -8.59% <VYGR -$1.71 > in 30 equities;
Companies in my headlights – It’s your decision; I provide the idea and context:
There are daily trades of with no long-term commitment - CRSP, EDIT and NTLA
SELLs of the overvalued – BLFS, BSTG and ATHX
BUYs of those oversold –AST, FATE and VSTM
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.
