September 12, 2019 8:10am

Not a doom and gloom individual, yet been punished for not watching our “Icarus” sector plummet to the sea having flew too close to the sun – what’s binding  the wings of the sector? It’s definitely not news and when secondary offerings start popping, a market high is definitely an open window to jump through in all circumstances!

News: Adverum Biotechnologies (ADVM) presented positive 24-week clinical data from the first cohort of patients treated with a one-time intravitreal (IVT) dose of ADVM-022 in the OPTIC P1 clinical trial in wet age-related macular degeneration (wet AMD). Patients treated in this cohort achieved vision maintenance and improvements in retinal anatomy, with zero anti-VEGF rescue injections required, after a one-time intravitreal dose of ADVM-022, through week 24.

Financing: Fate Therapeutics (FATE) priced its offering of 8.6 M shares at $17.50 per share for an offering of approximately $150.5 M. FATE has also granted the underwriters a 30-day option to purchase up to an additional 1.29 M shares.

My version of the morning’s numbers is written to be informative than just about changes to fundamentals; it’s what happened or will beyond the headline and what could happen to the future


Timely insights have line extensions within or to a volatile pricing universe. Thus my line in writing is separating actionable numbers or intelligence and news into a short-term investment thesis to tackle the “unknown unknowns”


Dow futures are UP +0.85% (+227.81 points), S&P futures are UP +0.72% (+22 points) and NASDAQ futures are UP +1.06% (+86 points)


Dow futures indicated a positive open while futures on the S&P and NASDAQ were also higher;

European stocks reversed early gains to slip back below the flat line, as investors look ahead to an anticipated announcement of easing measures from the European Central Bank (ECB);

Asia Pacific equities rose as the US delayed tariffs on China, a positive development in relations to re-begin for the umpteenth time talks re trade and tariffs. Markets in South Korea were closed on Thursday for a holiday;


Data docket: the latest weekly jobless claims and consumer price index data for August will be released at 8:30 a.m. ET. The U.S. federal budget for August will follow slightly later in the session.



Short, unsweetened and simple ...

Strength is thoroughly welcome but, also something to be sold into … I would love to be wrong yet ... the unknows confound me!

Market focus is largely attuned to global trade developments, after President Trump agreed to delay an additional increase in tariffs on Chinese goods by two weeks “as a gesture of good will.” The move raised hopes of a thaw in trade frictions between the world’s two largest economies. Trade officials from both sides are expected to hold talks in Washington in early October <CNBC>.


Saving grace, the weekend draws closer


From Wednesday’s evening post, “a third up sector session; is this week’s gold, tomorrow’s tin?”

•             The NASDAQ was up +85.52 or +1.06% to 8,169.68

•             Wednesday’s IBB closed up +1.78% while the XBI also closed up +1.65% after Tuesday’s IBB closed up +1.15% while the XBI also closed up +2.47% and Monday’s IBB closed down -0.41% while the XBI also closed down -0.15%;

•             The close was positive with an Advance/decline (A/D) line of 26/15 and 2 flats and 2 acquired;

•             The range of the 26 upside was +0.31% (ONCE) to +10.29% (KOOL) while the 15 downside ranged from -0.12% (HSGX -$0.003) to -3.72% (FATE);

•             10 out of the 26 upside had higher than the 3 month average volume;

•             5 out of the 15 downside had higher than the 3 month average volume;

Q3/19 to date:

  • In July, there were 9 positive, 1 holiday and 13 negative closes;
  • In August there had been 12 negative and 10 positive closes
  • In September there has been 5 positive, 1 holiday and 2 negative close


Companies in my headlights – It’s your decision; I provide an idea and context:

*** Sector "trouble" or depreciation is on our doorstep or at the least around the corner***


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.