July 30, 2018 7:42am

I am still hoping for some of the oversold to up-value  

Even though Q2 results will be coming “fast and furious” with 12 releases by 8/9

 

Pre-open indications: 1 BUY, 1 SELLs and 3 trades

 

RMi reports pre-open indications that shed light on share pricing events and today’s session values!

Want to know WHY, subscribe!

U.S. stock index futures are mixed

Dow futures are up +0.10% (+26 points) and NASDAQ futures are DOWN -0.25% (-19 points)

 

US stocks set for a weak open, as fresh earnings, data roll in

European markets traded lower amid further earnings reports

Asian stocks closed lower in lead up to Bank of Japan's policy decision

 

Data docket: pending homes sales are due out at 10 a.m. ET, followed by the Dallas Fed's manufacturing survey at 10:30 a.m. ET.

 

Henry’omics:

Reiterating, “There has been 7 negative closes out of the past 10 sessions AND it’s time for Q2 EARNINGS (LPS or loss-per-share “numbers to become apparent – this is the BIG week!

Does it say something about expectation?  Spending and cash positions will become more evident as well.

 

Today’s indications:

  • The iShares Nasdaq Biotechnology (IBB) is NOT indicating in Monday’s pre-market;
  • The SPDR S&P Biotech ETF (XBI) is indicating a +0.44% upside in Monday’s pre-market;
  • The Health Care Select Sector SPDR ETF (XLV) is NOT indicating in Monday’s pre-open;
  • The iShares Russell 2000 (IWM) is indicating a -0.36% DOWNSIDE in Monday’s pre-open

 

From Friday’s night’s newsletter: “another crashing session. What do three (3) stocks (CRSP, EDIT and NTLA) have in common, they all “had” dropped -7%+ during Friday’s session…There were NO safe havens as the Dow, NASADAQ and S&P fell.”

I also stated, “Another crashing session. What did three (3) stocks (CRSP, EDIT and NTLA) have in common; they all “had” dropped -7%+ during Friday’s session.”

Thus, keep an eye on the three (3) shares of gene editing companies - CRSP, EDIT and NTLA; there is still plenty of upside to “eat” through; the 52 week change of EDIT +86.41%; CRSP +184.56% and NTLA +63.48% - they’re a trade …

The follow-on issue is all three are pre-clinical development companies and the closest to the clinic (NTLA) will be in end of 2019 or early 2020 while the CRSP and Vertex’s (VRTX) IND was put on HOLD and its P1/2 is slated for late 20118, another maybe!

Sooner versus later, will a rebound start taking effect in CRSP, EDIT and NTLA.

 

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

  • The iShares NASDAQ Biotechnology (IBB) was down again -2.07% after Thursday’s -1.24%, Wednesday’s +1.11%, Tuesday’s -0.14% and last Monday’s -0.06% … for a five session aggregate of -1.24% … UPSIDE needed!
  •  
  • Last week had 4 negative closes and 1 positive sessions; the week preceding had 3 negative and 2 positive sessions while the month so far, July has experienced 11 positive closes, 8 negative closes and 1 holiday;
  • Of the 45 companies covered on Friday; 38 downside equities finished in a range of -$0.01 (PSTI) to -$6.70 (BLUE) while the 5 upside equities oscillated from +$0.01 (KOOL) to $0.16 (MESO) with 2 flat closes;
  • Friday’s decliners ranged from -0.79% <PSTI -$0.01 > to -13.54% <MDXG -$0.65 > in 38 equities;
  • Friday’s gainers ranged from +0.10% <OSIR <+$0.01 > to +4.35% <BSTG +0.15 > in 5 equities;

 

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

CRISPR Therapeutics (CSP) closed down again -$2.76 to $47.01 after Thursday’s -$1.09 to $49.77, Wednesday’s-$0.99 to $50.82, Tuesday’s -$5.46 to $51.81 and last Monday’s $57.72 - Trade

Editas Medicine (EDIT) closed down again -$1.84 to $29.70 after Thursday’s -$0.28 to $311.54, Wednesday’s -$0.64 to $31.82, Tuesday’s -$2.91 to $32.46 post last Monday’s $35.37 – Trade;

Intellia Therapeutics (NTLA) closed down again -$1.15 to @6.38 after Thursday’s  -$0.68 to $27.53, Wednesday’s -$0.28 to $28.21, Tuesday’s -$1.96 to $28.49 post last Monday’s $30.45 - Trade;

Fate Therapeutics (FATE) closed down -$0.26 to $9.00 after Thursday’s -$0.01 to $9.26, Wednesday’s -$0.46 to $9.27, Tuesday’s -$1.135 to $9.735 post last Monday’s $10.87. FATE has been in MY oversold list having started July at $11.77, having seen a high of $12.44 and a low of $9.735 – Oversold - Maintaining 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.