November 21, 2018 7:46am

We almost see bottoms; there are more than a few positive indications, some with none and a couple with negative warnings

 

Pre-open indications: 4 BUYs and 1 SELL

 

I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors in the perception of sector vulnerabilities and strengths – it’s more than opinion, the facts and truth need to be recognized!

A trusted source of factual reporting of preludes and aftermaths!

There’s a difference between trust and conviction. Trust is something you can rely on, beyond certainty. Conviction doesn't demand that you, or anyone else, play by the rules. After gains, there’s pain; followed by advances, declines and other progressions or was it regressions?

 

U.S. stock index futures are rallying

Dow futures are UP +0.57% (+140 points) and NASDAQ futures are UP +0.91% (+60 points)

 

U.S. stock index futures were higher Wednesday morning, as traders prepared for some respite from the latest wave of global selling.

European stocks were higher, clawing their way back from sharp losses sustained in the previous session.

Asia markets were mixed amid shaky investor confidence after steep losses

Data docket: durable goods figures for October at around 8:30 a.m. ET. Existing home sales data for October and a final reading of consumer sentiment for November are both scheduled to be released at around 10:00 a.m.

 

Wednesday’s indications:

  • The iShares Nasdaq Biotechnology (IBB) is indicating a POSITIVE +0.02% upside;
  • The SPDR S&P Biotech ETF (XBI) is indicating a POSITIVE +0.95% upside;
  • The Health Care Select Sector SPDR ETF (XLV) is NOT indicating
  • The iShares Russell 2000 (IWM) is indicating a POSITIVE +0.49% upside

 

Henry’omics:

U.S. stock indexes Wednesday were poised to recapture some of the ugly losses accumulated over the past two sessions on the back of a persistent rout in once-highflying tech stocks and declines in oil.

U.S. financial markets will be closed Thursday for the Thanksgiving Day holiday and see an early close Friday.

The NASDAQ closed at its lowest level in more than seven months Tuesday and the S&P 500 and Dow ended the previous session at their weakest level since late October.

I foresee low volume as many try to escape <from irrational markets> to family for a Thanksgiving celebration

 

From Tuesday’s night’s newsletter: “when will the drip, drip of down slides be over? Another plunge to the downside after Monday’s de-risking session. Don’t try to catch a falling knife while “death crosses” are signaling.”

Last night’s percentage (%) indicators:

  • Review the range of the 14 upside from +0.12% (VCEL) to +11.71% (BLCM) while the 29 downside ranged from -0.04% (HSGX) to -18.48% (KOOL -$0.085) with 2 flat closes (BSTG and GBT).

Volume stat:

  • 8 out of 29 upside had higher (than the 3 month average) volume
  • 7 out of 14 downside experienced greater volume (than the 3 month average).

The iShares NASDAQ Biotechnology (IBB) in a week’s history lesson; a five session aggregate of a negative -1.52% after 3 downside sessions out of 5!

  • In 14 session in November – there were 5 positive closes, 1 neutral and 8 negative closes
  • In 23 sessions in October – there were 17 negative closes and 6 positive sessions;
  • In 19 sessions in September – there were 10 negative closes and 9 positive sessions;
  • 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:

BioLife Solutions (BLFS) closed up +$0.42 to $10.45 after Monday’s $10.03 and last Friday’s $11.00 and has a negative -$0.24 or -2.32% aftermarket indication. BLFS still has a +63.09% 52-week change and a float short ratio of 10.19% (433.76 shares) - SELL;

Editas Medicine (EDIT) closed down -$1.59 to $25.56 and has a positive +$0.19 or +0.74% aftermarket indication – BUY;

Intellia Therapeutics (NTLA) closed down -$0.32 to $16.38 and has a positive +$0.11 or +0.69% aftermarket indication – BUY;

uniQure NV (QURE) closed down -$2.69 to $26.25 and has a positive +$0.80 or +3.07% aftermarket indication – BUY;

Verastem Oncology (VSTM) closed down -$0.15 to $5.04 after Monday’s $5.19, Friday’s $5.41, Thursday’s $5.11 and last Wednesday’s $4.79 and has a positive +$0.07 or +1.49% aftermarket indication – 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.