July 31, 2018 7:45am

Is the sector “collateral damage” from tech stocks?

RISK is still a four letter profanity

 

Pre-open indications: 2 BUY 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 set for a lukewarm open

Dow futures are UP +0.12% (+30 points) and NASDAQ futures are UP +0.25% (+18 points)

 

U.S. stock index futures fluctuated, as a two-day central bank policy meeting begins

European stocks were mixed amid a slew of data and corporate releases

Asian shares closed narrowly mixed

 

Data docket: Personal income, core PCE prices and the employment cost index are due out at 8.30 a.m. ET, followed by the S&P/Case-Shiller House Price Index at 9 a.m. ET, Chicago purchasing managers' index at 9:45 a.m. ET, consumer confidence at 10 a.m. ET and the Dallas Fed's Texas service sector outlook survey at 10:30 a.m. ET.

The Federal Open Market Committee (FOMC) will commence its two-day summer meeting Tuesday.

 

Henry’omics:

I actually don’t have anything to say … let the cards fall as they may; I am not holding any significant advantage in reviewing the sector this a.m.

I'd be bluffing if I was to say otherwise - so, speculate!

 

Today’s indications:

  • The iShares Nasdaq Biotechnology (IBB) is NOT indicating in Tuesday’s pre-market;
  • The SPDR S&P Biotech ETF (XBI) is NOT indicating an in Tuesday’s pre-market;
  • The Health Care Select Sector SPDR ETF (XLV) is NOT indicating in Tuesday’s pre-open;
  • The iShares Russell 2000 (IWM) is indicating a +0.12% UPSIDE in Tuesday’s pre-open

 

From Monday’s night’s newsletter: “is the sector suffering from investor impotence; trading set the pace of the downside with low volume. The IBB was down -1.11% while the NASDAQ notched a three-day drop of 3.86%. The month is coming to an end with the risks associated with buying elevated.”

  • Still keeping an eye on the three (3) shares of gene editing companies after yesterday’s session with CRSP (+$0.14), EDIT (-$0.29) and NTLA (-$0.59);
  • 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 …

 

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 -1.11% after Friday’s  -2.07%,  Thursday’s -1.24%, Wednesday’s +1.11% and last Tuesday’s -0.14% … for a five session aggregate of -3.45% … UPSIDE needed!
  • Monday closed negative, 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, 9 negative closes and 1 holiday;
  • Of the 45 companies covered on Monday; 30 downside equities finished in a range of -$0.01 (BSTG) to -$7.70 (ALNY) while the 12 upside equities oscillated from +$0.05 (AST) to $0.41 (CLLS) with 3 flat closes;
  • Monday’s decliners ranged from -0.28% <BSTG -$0.01 > to -7.37% <ALNY -$7.70 > in 30 equities;
  • Monday’s gainers ranged from +0.30% <CRSP +$0.14> to +7.21% <CUR +$0.08> in 12 equities;

 

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

Asterias Biosciences (NYSEMKT: AST) closed up +$0.05 to $1.60. Asterias has dosed 25 subjects with AST-OPC1 in the SCiStar study and a total of 30 subjects including the five subjects from a previous P1 safety trial in thoracic spinal cord injury who have been followed for as long as seven years.  To date, there have been no serious adverse events (SAEs) related to the AST-OPC1 cells.  At 12 months, 100% (6/6) of Cohort 3 subjects have recovered at least one motor level on at least one side, with one subject having recovered two motor levels on one side.  At 12 months, 83% (5/6) of Cohort 4 subjects have recovered at least one motor level on at least one side, with one subject having recovered two motor levels on one side. At twelve months, 94% (17/18) of Cohort 2-4 subjects recovered at least one motor level on at least one side and 33% (6/18) of these subjects recovered two or more motor levels on at least one side. On NEWS – BUY;

Athersys (ATHX) closed down -$0.04 to $1.88. News this a.m. of the first patient has been enrolled its P3 study entitled, MultiStem Administration for Stroke Treatment and Enhanced Recovery Study-2 (“MASTERS-2”) to evaluate MultiStem® cell therapy treatment of patients who have suffered an ischemic stroke. ATHX has been seeing the bottom of a half-filled glass lately; maybe news will offer a stock price refill and they are announcing “earnings” on 8/7 – BUY;

CRISPR Therapeutics (CSP) closed up +0.14 to $47.15 following Friday’s -$2.76 to $47.01, Thursday’s -$1.09 to $49.77, Wednesday’s-$0.99 to $50.82 and last Tuesday’s -$5.46 to $51.81 - Trade

Editas Medicine (EDIT) closed down again -$0.29 to $29.41 following Friday’s -$1.84 to $29.70 after Thursday’s -$0.28 to $311.54, Wednesday’s -$0.64 to $31.82 and last Tuesday’s -$2.91 to $32.46– Trade;

Intellia Therapeutics (NTLA) closed down again -$0.59 to $25.79 following Friday’s -$1.15 to $26.38 after Thursday’s -$0.68 to $27.53, Wednesday’s -$0.28 to $28.21 and last Tuesday’s -$1.96 to $28.49 - Trade;

 

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.