June 4, 2019 8:05am
… Of placing trades as the “machines” determine the direction of the sector
Futures on the Dow, S&P and NASDAQ were seen higher
Pre-open indications: 1 BUY, 1 SELL and 4 TRADES
While many talk about the shift in alternating sentiment, I monitor the pulse and focus of possible outcomes
Opinion extraction, summarization and tracking are three important techniques for understanding sentiment.
Dow futures are UP +0.65% (+162 points), S&P futures are UP +0.65% (+18 points) and NASDAQ futures are also UP +0.69% (+48 points)
U.S. stock index futures were up Tuesday morning, following a volatile session leaving Investors hopeful that lawmakers may step in and block the Trump administration’s plan to impose tariffs on Mexico;
European markets trade lower with the pan-European Stoxx 600 falling by 0.5% in early trade;
Chinese stocks declined, while other major Asian markets were largely unchanged amid ongoing global trade tensions; Australia’s central bank cuts interest rates for the first time in nearly three years;
Data docket: factory orders for April will be expected at around 10 a.m. ET.
- Comments from the Federal Reserve on Monday raised expectations that the U.S. central bank is moving closer to a rate cut. St. Louis Federal Reserve president James Bullard said a U.S. interest rate cut “may be warranted soon” given the rising risk to economic growth posed by global trade tensions as well as weak U.S. inflation.
Futures are fluctuating lower percentage yet, still up
There could or should be more than some … follow through on Monday’s share pricing – sustainability needs to “shine” as many sector “participants present to the I-Bank conferences as June begins
From Monday night’s post, “the oversold were the motivation of an up session. The numbers and low volumes speak while gene therapy holds great promise, yet despite revolutionary advances, a clear path from bench to bedside remains elusive.”
- The close was positive with an A/DL of 25/17 and 1 flat and 2 acquired;
- Monday’s range of the 25 upside was +0.01% (ONCE) to +18.46% (MDXG) while the 17 downside ranged from -0.21% (BMRN) to -40.31% (ADRO);
- 4 out of the 25 upside had higher than the 3 month average volume;
- 7 out of the 17 downside had higher than the 3 month average volume;
- The iShares NASDAQ Biotechnology (IBB) indicator: up +1.08% after Friday closed down -1.78%;
Q2/19 so far:
- In June, there was 1 positive close, so far;
- In May, there were 14 negative, 1 holiday and 8 positive closes;
- In April, there has been 10 positive and 11 negative closes;
Companies in my headlights – It’s your decision; I provide an idea and context: post earnings release:
BioMarin Pharmaceuticals (BMRN) closed down again -$0.17 to $82.07 after Friday’s -$1.14 to $82.24 after Thursday’s +$0.43 to $83.38, Wednesday’s $82.95 and last Tuesday’s $84.50. BMRN's gene therapy for hemophilia A dropped potentially life-threatening bleeding events from more than a dozen to zero. On the surface, BMRN's disclosures around valrox Tuesday were positive. BMRN said a late-stage clinical trial found that eight patients met pre-specified criteria for Factor VIII activity levels (Ron Leuty, SFBT). That study and a P1/2 study dropped the median number of annual bleeding events to zero after three years, as valrox could hit the market by the end of 2020. The drop in the number of bleeding events is significant, both from a statistical point of view and for patients. There was a positive +$0.33 or +0.40% aftermarket indication – Maintaining BUY;
CRISPR Therapeutics (CRSP) closed up +$0.42 to $35.99 after Friday’s -$1.02 to $35.57, Thursday’s -$0.27 to $36.59, Wednesday’s +$0.14 to $36.86 and last Tuesday’s -$0.28 to $36.72, as May 1st opened at $38.82 – TRADE;
Editas Medicine (EDIT) closed up +$0.21 to $20.76 after Friday’s -$0.68 to $20.55, Thursday’s +$0.08 top $21.23, Wednesday’s -$0.28 to $21.15 and last Tuesday’s -$0.29 to $21.43 – TRADE;
Intellia Therapeutics (NTLA) closed up +$0.37 to $14.25 after Friday’s -$0.62 to $13.88, Thursday’s +$0.03 to $14.50, Wednesday’s -$0.29 to $14.47 and last Tuesday’s -$0.09 to $14.76 - TRADE
uniQure NA (QURE) closed up +$5.33 or +8.99% to $64.64 following Friday’s $59.31, Thursday’s $57.51, Wednesday ‘s $60.43 and last Tuesday’s $61.79 – a 11% or +$7.13 premium/upside in three (3) sessions – TRADE;
ReNeuron (RENE.L) closed down -$5.00 to $300.00 after Friday’s at $305.00, Thursday’s -$5.00, Wednesday’s -$15.00 to $300.00 and last Tuesday’s +$10.00 to $315.00. RENE.L has a time differential trading with a market downside of -$7.45 – 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.