June 5, 2019 8:35am
But, understand profit will be taken as many equities experience strength and increasing volume
Pre-open indications: 3 BUYs, 3 SELLs and 3 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 +0.43% (+105 points), S&P futures are UP +0.37% (+11 points) and NASDAQ futures are also UP +0.47% (+34 points)
U.S. stock index futures were higher on Wednesday morning as the U.S. central bank hints at looser monetary policy and trade fears relieved;
European stocks trade higher as global markets bounce back with the pan-European Stoxx 600 rising 0.4% during the morning session;
Asia Pacific markets gained ground during Wednesday trade, following yesterday’s rally;
Data docket: ADP employment numbers at 8:15 a.m. ET, followed by services PMI at 9:45 a.m. ET and an ISM non-manufacturing index at 10 a.m. ET.
Anticipate the highs but, strength has its issues of being sold into!
Also watch … volumes!
From Tuesday night’s post, “a rally to the close; not about sentiment, it’s just filling the widened share pricing gaps; sustainability beware!”
- The close was positive with an A/DL of 32/10 and 1 flat and 2 acquired;
- Tuesday’s range of the 32 upside was +0.34% (EDIT) to +9.44% (QURE) while the 10 downside ranged from -0.68% (CLBS) to -5.69% (HSGX);
- 10 out of the 32 upside had higher than the 3 month average volume;
- 4 out of the 10 downside had higher than the 3 month average volume;
- The iShares NASDAQ Biotechnology (IBB) indicator: closed up +1.93% after Monday’s+1.08% after Friday closed down -1.78%;
Q2/19 so far:
- In June, there was 2 positive closes, 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:
Alnylam Pharmaceuticals (ALNY) closed up +$1.93 to $68.80 and news of the completion of a rolling submission of an NDA to the U.S. FDA for givosiran, an investigational RNAi therapeutic targeting aminolevulinic acid synthase 1 (ALAS1) in development for the treatment of acute hepatic porphyria (AHP). Givosiran previously received Breakthrough Therapy Designation from the FDA and Orphan Drug Designation in the U.S. for AHP – BUY;
Applied Genetic Technologies (AGTC) closed down -$0.20 to $3.68 after Monday’s $3.88, Friday’s $3.65, Thursday’s $3.70 and last Wednesday’s $3.66 - oversold on no news with 2nd half results due. A trading stock, BUY;
BioMarin Pharmaceuticals (BMRN) closed up +$1.71 to $83.78 after Monday’s -$0.17 to $82.07, Friday’s -$1.14 to $82.24, Thursday’s +$0.43 to $83.38 and last Wednesday’s $82.95. BMRN announced today that Vimizim® has been approved by the National Medical Products Administration (NMPA) for the treatment of patients with mucopolysaccharidosis type IVA (MPS IVA), also known as Morquio A syndrome. Vimizim is the first treatment in China approved for this condition. – Maintaining BUY;
bluebird bio (BLUE) closed up +$7.02 to $129.44 after Monday’s $122.42, Friday’s $119.92, Thursday’s $120.53 and last Wednesday’s $122.25 - profit, SELL;
CRISPR Therapeutics (CRSP) closed up +$1.27 to $37.26 after Monday’s +$0.42 to $35.99, Friday’s -$1.02 to $35.57, Thursday’s -$0.27 to $36.59 and last Wednesday’s +$0.14 to $36.86 as May 1st opened at $38.82 – TRADE;
Editas Medicine (EDIT) closed up +$0.07 to $20.83 after Monday’s +$0.21 to $20.76, Friday’s -$0.68 to $20.55, Thursday’s +$0.08 top $21.23 and last Wednesday’s -$0.28 to $21.15 – TRADE;
Intellia Therapeutics (NTLA) closed up +$0.44 to $14.69 after Monday’s +$0.37 to $14.25, Friday’s -$0.62 to $13.88, Thursday’s +$0.03 to $14.50 and last Wednesday’s -$0.29 to $14.47 - TRADE
uniQure NA (QURE) closed up +$6.10 to $70.74 after Monday’s +$5.33 or +8.99% to $64.64 following Friday’s $59.31, Thursday’s $57.51 and last Wednesday ‘s $60.43 – profit, SELL;
ReNeuron (RENE.L) closed down -$5.00 to $295.00 after Monday’s -$5.00 to $300.00, Friday’s at $305.00, Thursday’s -$5.00 and last Wednesday’s -$15.00 to $300.00. RENE.L has a time differential trading with a market downside of -$19.00 – 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.