April 15, 2019 7:51am
Today is the annual Boston Marathon that starts right here in Hopkinton, Ma as “Tax Day” inhibits the joy along with the drenching rain
The “field” is wide but, there are few early finishers yet, the key is sustainability and the avoidance of depleted endurance – we are talking about the sector aren’t we?
Sentiment is correlated to confidence which is connected to share pricing
Pre-open indications: 3 BUYs and 3 TRADEs
The 6 W’s: Who, what, where, when, why and what of it … so who is going to do what?
Dow futures are UP +0.16% (+42 points), S&P futures are UP +0.03% (+2 points) and NASDAQ futures are DOWN -0.05% (-4 points)
U.S. stock index futures were slightly higher Monday morning, as market participants’ awaited further earnings reports;
Europe markets mixed amid optimism over US-China trade talks;
Asia trades mixed as investor confidence temper slightly despite better-than-expected China data;
Data docket: Empire State manufacturing data at 8.30 a.m. ET.
Monday’s indications in the pre-market:
The iShares Nasdaq Biotechnology (IBB) is NOT indicating;
The SPDR S&P Biotech ETF (XBI) is indicating a POSITIVE +0.11$ UPSIDE;
The Health Care Select Sector SPDR ETF (XLV) is NOT indicating;
The iShares Russell 2000 (IWM) is indicating a POSITIVE +0.1% UPSIDE;
Sector volume will be in focus as sentiment is lingering around the corner of the action in the market!
Investors are holding not to lose while traders are just playing through as the need arises.
Trading volume was tepid at best. This past Monday, fewer shares changed hands than on any day since December 24—when the market closed early for Christmas. Tuesday’s volume was lower than Monday’s; Wednesday’s was lower than Tuesday’s. That was just another sign that no one wanted to place any big bets on the market this past week—in either direction <MarketWatch>.
The lack of action came despite news that usually would be market-moving.
The urge to do nothing makes sense however; the waiting game poses risks of its own.
I believe the sector is unlikely to move unless headlines/drivers are supplied in either negative or positive cases!
Today might be a good day to sit on your hands, it’s better to do nothing than try to shuffle your portfolio!
From Friday’s closing bell post, “Sector equities opened positive and then witnessed a slow drag to the downside closing barely negative on Friday.”
- In April, there has been 5 positive and 5 negative closes – so far;
- Range of the 21 upside was +0.25% (BCLI) to +14.36% (CUR +$0.054) while the 22 downside ranged from -0.10% (OSIR) to -13.70% (MDXG).
- 4 out of the 21 upside had higher (than the 3 month average) volume
- 3 out of the 22 downside experienced greater volume (than the 3 month average)
- In March’s 21 sessions, there were 7 negative and 14 positive closes;
- Friday night, the IBB was down -0.76% after Thursday’s -1.70% after Wednesday’s +1.10%, Tuesday were down -1.61% after Monday’s -0.43% - that’s -3.4% for the week time for an upswing!
Companies in my headlights – It’s your decision; I provide an idea and context:
CRISPR Therapeutics (CRSP) closed up +$0.40 to $37.91 following Thursday’s $37.51 after Wednesday’s $38.82 after Tuesday’s -$0.99 to $37.68 and last Monday’s $38.67 with a positive +$0.34 or 0.90% upside in the pre-market– TRADE;
Editas Medicine (EDIT) closed up +$0.60 to $26.09 following Thursday’s -$2.18 to $25.49, Wednesday’s -$1.31 to $37.51 – TRADE;
Intellia Therapeutics (NTLA) closed down -$0.16 to $17.03 following Thursday’s -$0.59 to $17.19, Wednesday’s +$0.53 to $17.78, Tuesday’s -$0.92 to $17.25 and last Monday’s $18.17– TRADE;
ReNeuron Group (AIM: RENE) closed down -$4.00 to $237.00 after Thursday’s +$25.00 to $241.00, Wednesday’s -$5.00 to $216.00, Tuesday’s +$51.00 to $222.00 and is “pegged” up (+$8.00) following news of a partnership with Forsun Pharmaceuticals - BUY
Spark Therapeutics (ONCE) closed down again -$0.62 to $111.12 following Thursday’s -$1.14 to $111.74 and has a positive +$0.36 or +0.32% aftermarket indication. Wednesday closed at $112.88, Tuesday’s $112.78, Monday’s $112.81 and last Friday’s $112.57 – oversold, BUY;
Verastem Oncology (VSTM) closed down -$0.09 to $2.63 following Thursday’s-$0.14 to $2.72, Wednesday closed at $2.86, Tuesday $.2.84 and last Monday’s $3.01 – oversold – 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.