July 15, 2020 7:52am
Moderna’s (MRNA + 17.39% in premarket trading) potential vaccine to prevent Covid-19 produced a “robust” immune response, or neutralizing antibodies, in all 45 patients in its early stage human trial, according to newly released data published in the peer-reviewed New England Journal of Medicine.
Pre-open indications: 2 BUYs and 4 SELLs
What I provide is an intelligence daily. Where are the canaries in the sector coal mine, am I the only one?
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Dow futures are UP +1.71% (+454 points), S&P futures are UP +1.31% (+42 points) and NASDAQ futures are UP +0.81% (+87 points)
Stock futures rose in premarket trading Wednesday;
European stocks also were higher as investor hopes for a coronavirus vaccine rose. The pan-European STOXX 600 index (STOXX) rose by +1.2%;
Asia Pacific stocks shed earlier gains and traded mixed as concerns over U.S.-China tensions weighed on investor sentiment yet, the MSCI Asia ex-Japan index rose +0.55%.
Markets set to open higher on vaccine “hopes” … i.e. in an early trial,
Tuesday’s market finished in a volatile session ending on a high note with the Dow jumping more than 500 points to post its best day in two weeks. The S&P 500 jumped 1.3%, as the Nasdaq underperformed for a second day, rising 0.9%.
Tuesday night’s post title - a recap: “another reversal, sector opened negative, slipped neutral at mid-day and closed positive with weight>”
- The NASDAQ closed UP +97.73 points (+0.94%)
- The IBB closed up +2.12% and XBI also closed up +2.55%
- Sector volume was LOW with 5 of the 25-upside having higher than the 3-month average volume and 3 out of the 8-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -2.67 points or -8.29% at 29.52
- Tuesday’s percentage (%) of the 25-upside were +0.18% (CLLS) to +38.89% (CLBS) while the 8-downside ranged from -0.35% (GBT) to -4.11% (BLCM);
Q3: patterns or trends (?)
Tuesday closed positive with 25 advancers, 8 decliners and 2 flats
Monday (7/13) closed negative with 4 advancers, 29 decliners and 2 flats
Friday closed negative with 9 advancers, 22 decliners and 4 flats
Thursday closed negative with 10 advancers, 24 decliners and 1 flat
Wednesday closed positive with 28 advancers, 5 decliners and 2 flats
Tuesday closed positive with 18 advancers, 12 decliners and 5 flats
Monday (7/6) closed positive with 19 advancers, 15 decliners and 1 flat
Companies in my headlights – It’s your decision; I provide an idea and context:
Biostage (BSTG) closed down -$0.02 with 3,610 shares traded after Friday’s +$0.02 to $2.52 with 25 shares traded on Friday after Thursday’s +$0.02, Wednesday’s -$0.01 and last Tuesday’s -$0.09; serious questions of transparency, ethics, lack of experienced management talent and loss of executive team. BSTG trades ONLY with day traders, NO institutions or major firms. The real issues are the amounts of outstanding private placement shares sold to Chinese nationals with warrant coverage;
SELL into Strength:
Athersys (ATHX) closed up +$0.165 after Monday’s -$0.155 to $2.65 and has a negative -$0.02 or -.0.71% aftermarket indication;
CRISPR Therapeutics (CRSP) closed up +$4.68 or 5.43% to $90.91 after Monday’s -$3.20 or -3.62% and has a positive +$0.41 or +0.45% aftermarket indication;
Caladrius Biosciences (CLBS) closed up +$0.84 or +38.89% to $3.00 and has a negative -$0.28 or -8% aftermarket indication;
Applied Genetic Technologies (AGTC) closed flat at $5.63 after Monday’s -$0.21 or -3.60% to $5.63 with NO aftermarket indication;
Mesoblast (MESO) closed down -$0.31 or -2.47% to $11.45 and has a positive 0.55 or +4.80% aftermarket indication;
The BOTTOM LINE: Moderna’s (MRNA) vaccine development drives confidence and a market response with its report of a robust immune response to get a vaccine by the end of the year.
Marker responsiveness should NOT be dependent on one factor of news, it needs multiple legs!
U.S. stocks closed near session highs on Tuesday, boosted by a call from Federal Reserve Gov. Lael Brainard for the bank to carry out sustained large-scale asset purchases to help the economy rebound amid a “thick fog of uncertainty” caused by COVID-19. <MarketWatch>
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.