June 12, 2019 7:36am

The test for the stock market will be whether major indexes can break through all-time highs especially with inflation data today

News: MiMedx (MDXG -$0.139) secures $75 M non-dilutive funding while President Trump is expected to sign an executive order meant to streamline regulations and cut costs associated with food and crop biotechnology barriers

Pre-open indications: 6 BUYs, 1 SELLs and 3 TRADES

June’s sector trend is an admission that “our” universe is without any pricing sustainability which suppresses a value directional.

 

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

 

Dow futures are DOWN -0.26% (-67 points), S&P futures are DOWN -0.23% (-7 points) and NASDAQ futures are DOWN -0.43% (-33 points)

 

Falling futures slipped indicated a negative open;

European stocks fall after US and China take tough trade stances with the pan-European Stoxx 600 dropped 0.4% during the morning session;

Asia Pacific markets declined following an overnight trading session that saw the end of the Dow’s winning streak;

  • Also, official Chinese inflation data showed the producer price index in the country rising 0.6% year-on-year in May, meeting expectations of analysts <Reuters>. The consumer price index also rose 2.7% year-on-year in the same period, its fastest pace since Feb 2018 and in line with analyst expectations.

 

Data docket: Consumer Price Index data for May at around 8:30 a.m. ET, with core CPI excluding food and energy for May due at the same time. The latest Federal Budget figures will be released slightly later in the session.

 

Henry’omics:  

The sector doesn't look good min the pre-market yet, the sector is oversold and hopefully a haven for traders to bid-up share pricing!

In a macro view, yesterday stocks started out higher Tuesday morning but gave up gains and were slightly lower Tuesday afternoon. The S&P 500 was 2.3% away from its all-time high of 2,954 through Monday’s close while the Dow was 3.3% from its high and NASDAQ was 4% from its record.

Today, stock index futures were slightly lower this morning, as the White House took a tough line on trade talks with China.

From Tuesday night’s post, “risk has never stopped being a four letter expletive. Trading sentiment and volume are the dynamic ticks.”

  • The NASDAQ was down -0.60 points or -0.01% to 7,822.57;
  • The close was negative with an A/DL of 7/32 and 4 flats and 2 acquired;
  • Tuesday’s range of the 7 upside was +0.13% (BLUE) to +10.6% (HSGX +$0.02) while the 32 downside ranged from -0.02% (BMRN) to -12.02% (QURE);
  • 3 out of the 7 upside had higher than the 3 month average volume;
  • 11 out of the 32 downside had higher than the 3 month average volume;
  • The iShares NASDAQ Biotechnology (IBB) indicator:  closed down -0.49% after Monday’s -0.60% and last Friday’s +1.62%;

 

Q2/19 so far:

  • In June, there were 3 positive, 1 neutral and 3 negative 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:

Applied Genetic Technologies (AGTC) closed down -$0.07 to $3.77 after Monday’s $3.80, Friday’s $3.63, Thursday’s $3.60, Wednesday’s $3.68 and the previous Tuesday’s $3.68 and Monday’s $3.65 – I’d be building a position as clinical date results are due in 2nd half – Maintaining BUY;

AxoGen (AXGN) closed down -$0.82 to $18.50 after Monday’s -$1.28 to $19.32, Friday’s $20.60, Thursday’s $21.10, Wednesday’s $22.24 and last Tuesday’s $22.16 – Oversold, BUY;

BioLife Solutions (BLFS) closed down -$0.58 to $17.57 after Monday’s $18.15, Friday’s $18.46, Thursday’s $18.51 and last Wednesday’s $19.42 following the previous Wednesday’s $18.74 and Tuesday’s $18.18 and Monday’s $17.73 – Oversold with profit taking – BUY;

bluebird bio (BLUE) closed down again -$0.15 to $118.46 after Monday’s -$8.12 to $118.31, Friday’s -$2.76 to $122.01 and last Wednesday’s -$4.67 to $124.77 following the previous Tuesday’s +$7.02 to $129.44, Monday’s $122.42 and Friday’s $119.92 - Maintaining BUY;

CRISPR Therapeutics (CRSP) closed down -$0.86 to $43.52 after Monday’s +$1.50 to $44.38, Friday’s +$5.63 to $42.88, Thursday’s -$0.28 to $37.25 and last Wednesday’s +$0.27 to $37.53 following the previous Tuesday’s +$1.27 to $37.26, Monday’s +$0.42 to $35.99.  May 1st opened at $38.82 – TRADE;

Editas Medicine (EDIT) closed down -$0.50 to $21.55 after Monday’s -$0.36 to $22.05, Friday’s +$1.83 to $22.41, Thursday’s +$0.10 to $20.58 and last Wednesday’s -$0.35 to $20.48 following the previous Tuesday’s +$0.07 to $20.83, Monday’s +$0.21 to $20.76 and Friday’s -$0.68 to $20.55 – TRADE;

Intellia Therapeutics (NTLA) closed down -$0.45 to $13.91 after-$0.70 to $14.36, Friday’s +$0.80 to $15.06, Thursday’s -$0.40 to $14.25 and last Wednesday’s-$0.03 to $14.66 following the previous Tuesday’s +$0.44 to $14.69, Monday’s +$0.37 to $14.25 and Friday’s -$0.62 to $13.88. Oversold – TRADE;

Mesoblast (MESO) closed up +$0.14 to $5.24 after Monday’s +$0.06 to $5.10 with news post Friday’s $5.03, Thursday’s $5.12 and last Wednesday’s $5.04 following the previous Tuesday’s $4.89 – Maintaining BUY;

ReNeuron (RENE.L) closed up +$15.00 to $245.00 after Monday’s -$25.00 to $230.00, Friday’s -$10.50, Thursday -$10.50 and last Wednesday’s -$22.00 following the previous Tuesday’s -$5.00 to $295.00, Monday’s -$5.00 to $300.00 and Friday’s at $305.00. RENE.L has a time differential trading with a pre-market -$1.20 indication   –BUY to SELL;

Intrexon Corp (XON) closed up +$0.45 to $6.00 after Monday’s +$0.15 to $5.55, Friday’s $5.40, Thursday’s $5.34 and last Wednesday’s $5.57 following the previous Tuesday’s $5.24. CEO Randal J Kirk bought 483,268 shares of XON on 06/07/2019 at an average price of $5.24 a share – a stimulus from a stock that got hammered after quarterly earnings and a positive +$0.07 or +1.17% aftermarket indication – Maintaining BUY;

uniQure NV (QURE) closed down -$9.01 to $65.97 with a positive +$0.03 or +0.05% aftermarket indication. Monday was priced at $74.98, Friday at $75.55, Tuesday $72.00, Wednesday $74.20 and the previous Tuesday’s $70.74 – 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.