August 24, 2018 7:49am

Like the market, it’s still about protecting current holdings and funding your future portfolios – it’s NOT a time to take on more risk!

 

Out and about: Intellia Therapeutics (NTLA) data from “humanized” mouse models might make me read but, they’re pre-pre and pre-clinical far from an IND. “Realizing a potential” statements are just “a bridge-too-far”!

 

RMi’s independent analysis is NOT “married” to any equity; like it or not - a trusted source of factual reporting.

Spare the SELL call, underfund the portfolio – SUBSCRIBE!

U.S. stock index futures are higher and I believe fragile

Dow futures are UP +0.23% (+59 points) and NASDAQ futures are UP +0.26% (+19 points)

 

U.S. stock index futures lifted slightly Friday as talks between the U.S. and China ended without a deal and traders awaited a speech from Federal Reserve Chair Jerome Powell.

European and Asian equities were mixed following an expected lack of progress on trade relations between the U.S. and China.

 

Data docket: durable goods orders figures are due at 8:30 a.m. ET. Also, the Fed's Powell will address attendees of the Jackson Hole Symposium in Wyoming on Friday, where leading central bankers are meeting to discuss the future of monetary policy.

 

Today’s indications:

  • The iShares Nasdaq Biotechnology (IBB) is NOT indicating in Friday’s pre-market;
  • The SPDR S&P Biotech ETF (XBI) is NOT indicating in Friday’s pre-market;
  • The Health Care Select Sector SPDR ETF (XLV) is NOT indicating in Friday’s pre-open;
  • The iShares Russell 2000 (IWM) is indicating a +0.33% UPSIDE in Friday’s pre-open

 

Henry’omics:

Sector trading is still based on LOW volume, slight daily moves and NO big time news.

For the week, the S&P SPX is up 0.2% and on track for its second straight weekly gain, an upswing that took it to a record earlier this week. The NASDAQ is up 0.8% on the week. The Dow is down less than 0.1% thus far this week.

But these moves implied by futures suggest it (markets) could eke out a modest gain. Should it do so, that would also mark the second straight positive week for the blue-chip average.

As far as the Fed “minutes” (as mentioned above) are concerned, “traders will be expecting much of the same” from Powell

I see NOTHING to motivate … me, other than to STAY on the side lines!

 

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

From Thursday’s night’s newsletter: “memo to Investors: what goes UP will come DOWN. Yesterday’s trend is an admission that the sector lacks pricing sustainability which suppresses a value indicator.”

  • I also stated, “As far as “our” universe was concerned – traders were reaping profits from a five (5) session upside “run”! In talking, many wanted to exit now and be ready – early for the month’s end and upcoming holiday.”
  • The iShares NASDAQ Biotechnology (IBB): Thursday closed at -0.58% after, Wednesday’s +0.71%, Tuesday’s +0.93%, Monday’s -0.17% and last Friday’s +0.02% for a five session aggregate of +0.91% - looking at potential downside!
  • Of the 45 companies covered on Thursday; 26 downside equities finished in a range of -0.13% (XON) to -7.48% (RARE) while the 16 upside equities oscillated from +0.13% (ONCE) to +6.13% (BLFS) with 3 flat close (ONVO, BSTG and RENE.L).

August’s measurement:

  • Of the past 5 sessions – 4 had closed positive with one negative close,
  • Of the past 10 sessions – 3 had closed negative
  • Of the 15 August sessions – 6 had negative and 11 positive closes

 

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

After an “Icarus” flight inspired flights on Wednesday, Tuesday, last Monday and the previous Friday – yesterday, Thursday took a dive  - some could recoup buy, I’d stay … on the side lines and dive if a clear and present upside i.e. momentum move inspires one to invest.

I’d stake my moves to the sidelines …

…. Everyone deserves a vacation – I keep trying, maybe next week!

 

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.