September 14, 2018 8:12am
Is the upside on borrowed time; or, are we ready for “ascension”; I’m a sinner and a saint when it comes to a value proposition …
The problem is many have little faith in these markets
Pre-open indications: nothing is jumping-out at me other than mu usual 3 TRADEs
RMi provides a pre-market synopsis for the U.S. trading day.
I answer one question, in which company should investors put, keep and commit their money
U.S. stock index futures jumping higher
Dow futures are UP +0.18% (+47 points) and NASDAQ futures are UP +0.39% (+29 points)
It’s Friday and index futures are up and that is about all I can say … who know what could happen over a tense weekend of macro, micro, hurricane, tariff, traded and Washington politics …
European stocks were higher, after an unexpectedly sharp interest rate hike in crisis-hit Turkey supported the lira and global risk appetite.
Asia markets were largely positive as stocks of semiconductor-related companies and Apple suppliers jumped.
Data docket: retail sales and import prices at 8:30 a.m. ET, followed by industrial production figures at 9:15 a.m. ET and consumer sentiment and business inventories data at 10 a.m. ET.
- The iShares Nasdaq Biotechnology (IBB) is indicating a +0.23% UPSIDE 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 indicating a -2.39% DOWNSIDE in Friday’s pre-open;
- The iShares Russell 2000 (IWM) is indicating a +0.08% UPSIDE in Friday’s pre-open
Last night I opined, “As someone who is neurotic about who to be invested in, I have learned that unwelcome surprises i.e. missing an endpoint) can spark panic, defensive trades and other fearful reactions among investors, funds, traders and the ultimate kill-joy – algorithms.
What concerns me the most is the intractability of boards-of-directors (BOD) to execute their fiduciary responsibilities for stakeholders and shareholders. How many companies are in TURMOIL – over the status of their CEO, clinical enrollment lateness or just spending – always depending on capital markets and investor dilution to keep their jobs?”
Don't fire (click the BUY/SELL) buttton until you see the green of the value momentum!
Remember, the count-down to the end of the month and Q3 is rapidly approaching – we are half-way there!
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: “sector keeps slipping. Fundamentals have been ravaged by the sudden spikes of volatility; but, are we sliding to a reckoning? Keep an eye on the difference of gains indicated by low volume. Sentiment is capricious!”
The iShares NASDAQ Biotechnology (IBB): history lesson
- Thursday was up +0.74%
- Wednesday was up +0.05%
- Tuesday was down -0.42%
- Monday closed up +0.17%
- Last Friday closed down -0.57%
- For a five session aggregate of +0.07% - the IBB is truly lagging, we need MORE upside movement!
Of the 45 companies covered on Thursday; 22 downside equities finished in a range of -0.28% (AXGN) to -9.30% (HSGX) while 20 upside equity oscillated from +0.11% (IONS) to +9.76% (KOOL +$0.04) with 3 flat closes (PSTI, BLCM and RENE.L).
In 8 sessions in September (so far) – there were 5 negative closes and 3 positive close;
In 21 August sessions – 6 had negative and 15 positive closes
Companies in my headlights – It’s your decision; I provide the idea and context:
CRISPR Therapeutics (CRSP) closed up +$0.43 to $54.15 in a day’s range $53.34 to $55.48 following Wednesday’s +$1.93 to $53.75 after Tuesday’s +$2.11 to $51.80 and Monday’s $49.69; there’s $4.04 in two sessions and a premium of +7.5% - in this market I like to taste the frosting rather than eat the cake. Key metric – 52 week change = +179.99% – TRADE;
Editas Medicine (EDIT) closed down -$0.27 to $32.22 in a day’s range of $31.68 to $32.93 after Wednesday’s +$0.25 to $32.49 after Tuesday’s +$1.17 to $32.24 and Monday’s +$0.82 to $31.07. Key metric – 52 week change = +55.16% - TRADE;
Intellia Therapeutics (NTLA) closed up +$0.70 to $30.97 in a day’s range of $30.01 to $31.40 post Wednesday’s +$1.14 to $30.27 after Tuesday’s +$2.15 to $29.13 and Monday’s $26.98. Key metric – 52 week change = +33.47% and a negative pre-market indication of -$0.07 or -0.23% - 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.