RegMed Investors’ (RMi) pre-open: Dow, S&P and NASDAQ futures were marginally higher

September 13, 2019 8:03am

However, news gets read as good, bad or ignored especially when it can be sold into

So question: where does the (sector pricing) roller coaster start and where does it end?

Answer: in the same place it began

News: Yesterday’s news from Adverum’s (ADVM – $6.04 or 50.3% to $6.27) P1 readout from its Wet AMD gene therapy trial – fizzled - 10 ocular adverse events were observed in six patients, with 14 showing mild adverse events and five experiencing moderate adverse events. Wet AMD patients are burdened with frequent anti-VEGF injections to maintain vision, with under treatment invariably resulting in vision loss. However the data was compelling – there is an upside pre-market indication of +$0.31 or +5.20%.

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 +0.17% (+46 points), S&P futures are UP +0.29% (+9 points) and NASDAQ futures are also UP +0.30% (+25 points)

Futures on the S&P and NASDAQ were both marginally higher.

European stocks cautious after aggressive ECB stimulus

Asia stocks rise amid optimism on US-China trade, ECB stimulus

Data docket: retail sales for August and import prices for August will be released at around 8:30 a.m. ET. Consumer sentiment for September and business inventories for July will follow slightly later in the session.

Henry’omics:

I am a skeptics - the Dow is looking to surpass an intraday record high of 27,398.68, while the S&P 500 is closing in on its previous record of 3,027.98 points – wait and see, like I stated I am a skeptic!

Market focus is largely attuned to global trade developments, as the world’s two largest economies continued to prepare for talks in early October aimed at breaking their trade war impasse.

WHY should that affect or effect ... the cell and gene therapy sectot?

Ther are no watter cannons, loud speckers or protesters in or out of offices excepct the possibllity a director of finance and his cadre of incompetants.

The weekend can’t come soon enough although I can’t work out my (last week’s pain) frustration by ripping-out a room and moving the old washer and dryer out by myself although I did like using the sledge hammer but, not the dolly to move the old machines out the door frame that – suddenly disappeared (3 whacks) in total anger.

I did feel good and wish I could use that same sledge to break down the “rules” of algorithms and squash a few electronic machines!

From Thursday’s evening post, “value was torpedo by electronic trading; just when we were making headline back from depreciated value. As I had stated the “electronic trading and algorithms were waiting for strength to sell into.”

•             The NASDAQ was up +24.79 or +0.30% to 8,194.47;

•             Thursday the IBB closed down -0.61% while the XBI also closed down -0.75% following 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 roller coaster starts where and ends where?

•             The close was negative with an A/D Line of 17/26 and 0 flats and 2 acquired;

•             The range of the 17 upside was +0.20% (GBT) to +5.83% (RGNX) while the 26 downside ranged from -0.25% (BCLI) to -50.33% (ADVM);

•             7 out of the 17 upside had higher than the 3 month average volume;

•             6 out of the 25 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 3 negative close

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.