October 10, 2018 7:53am
I’d be a BUYER of attractive “bottoms”; ignoring a few as Q3 “earnings” expectation i.e. LPS (Loss-per-Share numbers) are soon to be problematic
Pre-open indications: 3 BUYs and 1 SELLs
RMi outlines preludes and aftermaths defining the daily metric’s dosage of facts and objectivity - SUBSCRIBE!
U.S. stock index futures are fluctuating
Dow futures are DOWN -0.01% (-3 points) and NASDAQ futures are DOWN -0.18% (13 points)
U.S. stock index futures are under-pressure ahead of Wednesday's open.
European stocks turn lower as political uncertainty takes center stage
Asian markets saw broad gains; only South Korea's Kospi closed lower,
Data docket: mortgage applications are due out at 7 a.m. ET on Wednesday, followed by the all-important producer price index (PPI) figures at 8:30 a.m. ET and wholesale trade at 10 a.m. ET.
Today’s indications:
- The iShares Nasdaq Biotechnology (IBB) is NOT indicating in Wednesday’s pre-market;
- The SPDR S&P Biotech ETF (XBI) is NOT indicating in Wednesday’s pre-market;
- The Health Care Select Sector SPDR ETF (XLV) is NOT indicating in Wednesday’s pre-open;
- The iShares Russell 2000 (IWM) is indicating a POSITIVE +0.13% UPSIDE in Wednesday’s pre-open
Henry’omics:
As I had stated, “The 'burden of proof' is on clinical data, not a comparable’s movement (AGTC) and each release will have to be interpreted by investors as either affirming its viability (HSGX’s failure) followed by multiple offerings?”
- There is just NO news of any kind!
- Some CEOs are extremely nervous surrounding this market as you will see more sector “participants” running who wat to capitalize on a currently open window for offerings!
From Tuesday’s night’s newsletter: “Another negative close after experiencing an open and mid-day upside.”
The iShares NASDAQ Biotechnology (IBB): a week’s history lesson; for a five session aggregate of -4.41% - at the least consider an upside move after 5 negative sessions out of 5!
- Of the 45 companies covered on Tuesday; 33 downside equities finished in a range of -0.24% (IONS) to -10.38% (CLBS) while 18 upside equities oscillated from +0.20% (FIXX) to +6.89% (ADRO) with 4 flat close (BCLI, RENE.L, BSTG and ATHX).
Volume is still LOW … look at the depth – 6 out of 18 of the upside had higher volume while the downside shrunk with 9 had greater volume out of 23.
- In 7 sessions in October – there were 6 negative closes and 1 positive close
- In 19 sessions in September – there were 10 negative closes and 9 positive close;
- In 21 August sessions – 6 had negative and 15 had positive closes
Companies in my headlights – It’s your decision; I provide an idea and context:
bluebird bio (BLUE) closed up +$2.91 after Monday’s $133.36, Friday’s $143.31, Thursday’s $140.68 and last Wednesday’s $144.00. The aftermarket indication is a negative -$0.95 or -0.70% - SELL;
CRISPR Therapeutics (CRSP) closed up +$0.25 to $36.85 after Monday’s -$2.00, Friday’s +$1.00 to $28.57 to $28.57, last Monday’s -$2.01 and Tuesday’s -$2.62 and last Wednesday’s -$0.72 with a rebound in store as the aftermarket indication is a positive +$0.14 or +0.37% - Maintaining BUY;
Editas Medicine (EDIT) closed down -$0.10 to $27.76 after Monday’s -$0.71 to $27.86, Friday’s $28.57, Thursday’s $28.61 and last Wednesday’s $30.212 post the previous Tuesday’s $29.11 a. A rebound should be in-store – Maintaining BUY;
Intellia Therapeutics (NTLA) closed down -$0.66 to $23.54 after Monday’s -$0.14 to $24.20, Friday’s $24.34, Thursday’s $24.40 and last Wednesday’s $25.98 following the previous Tuesday’s $25.76. A rebound should be in-store – 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.