March 22, 2019 7:53am
A Friday, mid-month of March’s 15 sessions, having 5 negative and 10 positive closes
Is the market casino, after a week of split decisions; the dice are cold?
Pre-open indication: 1 BUY, 4 SELL and 3 TRADEs
My focuses is indication analysis. An indication can be a development of almost any kind. Specifically, it may be a confirmed fact, a possible fact, or an absence of “something”, a fragment of information or even an observation. The sole provision is that it provides insight!
It’s not hard to be right so often, it’s about defining expectation, refining insight and NOT being indentured to ANY financial institution! That’s why my blend of two styles “quantamental” has become common parlance among investors and traders.
Dow futures are DOWN -0.40% (-105 points), S&P futures are DOWN -0.38% (-11 points) and NASDAQ futures are DOWN -0.34% (-26 points)
U.S. stock index futures fell Friday amid jitters sparked by the Fed’s cautious outlook for the world’s largest economy;
European stocks slide as weak euro zone data fuels slowdown worries;
Asian stock markets closed little changed following a roller-coaster session that sent shares oscillating between positive and negative territory as investors grappled with the consequences of a more dovish U.S. Fed.
Data docket: manufacturing and services PMI data for March is due at around 9:45 a.m. ET. Wholesale trade figures for January and existing home sales for February will be released shortly afterwards, with the latest monthly federal budget data due at 2 p.m. ET.
Friday’s indications in the pre-market:
The iShares Nasdaq Biotechnology (IBB) is NOT indicating;
The SPDR S&P Biotech ETF (XBI) is NOT indicating;
The Health Care Select Sector SPDR ETF (XLV) is NOT indicating;
The iShares Russell 2000 (IWM) is indicating a NEGATIVE -0.5% DOWNSIDE;
U.S. stock futures took a hit early Friday after data showed a reading on German manufacturing fell to its lowest level since 2012.
I am STILL of the mind, to REAP profit from any source; there is ALWAYS an opportunity to BUY back.
I am also of the opinion that the volatile battle of the oversold and the overbought WILL play-out weekly as the month continues to its end!
The BUZZ: WHO and WHAT will Biogen (BIIB) BUY to stay viable or will it be the “hog” roasting on the spit?
From Thursday’s closing bell post, “the oversold were ‘rushed” to the upside and succeeded while Biogen (BIIB) declined (-29%) with an Alzheimer trial being discontinued sending the IBB spiraling down -1.07% as the Advance/Decline (A/D) line exploded to the upside, volume was low.”
- Range of the 31 upside was +0.28% (CLBS) to +7.90% (AXGN) while the 12 downside ranged from -0.20% (ONCE) to -9.78% (BLCM).
- 12 out of the 31 upside had higher (than the 3 month average) volume
- 3 out of the 12 downside experienced greater volume (than the 3 month average)
- In March’s 15 sessions, there were 5 negative and 10 positive closes;
- In the last four (4) sessions, the IBB has been down -2.03%
Companies in my headlights – It’s your decision; I provide an idea and context:
Vericel (VCEL) closed up +$0.82 to $19.33 and has a negative -$0.23 or -1.20& aftermarket indication after Wednesday’s $18.51, Tuesday’s $18.82, Monday’s $19.26 and the previous Friday’s $19.20 – SELL;
uniQure NV (QURE) closed up +$2.59 to $68.41 and has a negative -$0.38 or -0.56% aftermarket indication after Wednesday’s $65.82, Tuesday’s $66.46 and Monday’s $65.78 following the previous Friday’s $63.35 – SELL;
Regenxbio (RGNX) closed up +$1.86 to $62.45 after Wednesday’s +$2.01, Tuesday’s +$0.22 and Monday’s +$0.84 and has a negative -$0.51 or -0.82% aftermarket indication – BUY to SELL;
Sage Therapeutics (SAGE) closed up +45.52 to $157.98 after Wednesday’s-$3.64, Tuesday’s -$0.78 to $156.10 and was up +$0.01 or +0.01% with a positive aftermarket indication. A candidate for a Biogen (BIIB) buy-out? - Maintaining BUY;
CRISPRS Therapeutics (CRSP) closed up +$0.76 to $37.86 after Wednesday’s -$0.14, Tuesday’s-$0.64 and Monday’s -$0.76 with a positive +$0.14 or +0.37% aftermarket indication – TRADE;
Editas Medicine (EDIT) closing up +$0.62 to $24.74 after Wednesday’s $0.01, Tuesday’s +$0.14 and Monday’s -$0.32 with a positive +$0.16 or +0.65% aftermarket indication – TRADE;
Intellia Therapeutics (NTLA) closing up +$0.66 to $17.62 after Wednesday’s +$0.10, Tuesday’s +$0.15 and Monday’s +$0.02 with NO aftermarket indication – TRADE;
ReNeuron (RENE.L) closed down -$1.00 to $75.50 after Wednesday’s +$1.50, Tuesday’s -$1.00 and Monday’s + +$6.00 on news of its P1/2 trial – and is seeing a negative -$1.20 or -1.59% decline in its markets –Maintaining SELL;
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.