March 16, 2021 7:45am
It’s more than an arcade game and more about randomness
Pre-open indications: 2 BUYs and 6 SELLs: BSTG, AGTC, ATHX, SLDB, CRSP, EDIT; BUY: KDNY, PSTI
News: Solid Biosciences (SLDB) suffered some issues re safety and efficacy data (with a negative -$0.88 or -9.25% aftermarket indication)
RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
Dow futures are DOWN -0.04% (-111 points), S&P futures are UP +0.09% (-4 points) and NASDAQ futures are UP +0.54% (-74 points)
U.S. stock index futures traded mixed early Tuesday
European stocks advanced as market attention focuses on the global economic recovery
Asia-Pacific markets edged higher following a relatively subdued start to the global trading week
Data Docket: today and Wednesday’s Federal Open Market Committee meeting where the Federal Reserve will deliver its decision on interest rates.
Henry’omics:
Yesterday, the Dow and S&P closed at record highs and there’s growing concern among investors that interest rates may continue to climb, snuffing out the comeback for equities.
- During regular trading hours Monday, the Dow jumped 174 points, notching its 21st record intraday high of the year, and 14th record closing high of 2021. It was also the 30-stock average’s seventh straight positive session — the longest daily winning streak since August.
- The S&P 500, meanwhile, gained 0.64% for its fifth straight positive session. The benchmark index hit its 16th intraday high of the year, and 13th record closing high.
- The Nasdaq was the relative outperformer on Monday, gaining 1.05% and clawing back some of its recent losses. <CNBC>
Monday’s evening’s recap: “the sector wobbles as the market reaches new highs. Economic overheating and Fed tightening will be the newest normal.”
- The Nasdaq closed UP +139.84 points (+1.05%);
- The IBB closed up +1.49% and XBI closed up +2.17%
- Sector volume was LOW with 0 of the 25-upside having higher than the 3-month average volume with the volume of 0 of 9-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -0.66 points or -3.19% at 20.03;
- Monday’s percentage (%) of the 25-upside were +0.55% (MDXG) to +12.02% (AGTC) while the 9-downside ranges from -0.11% (SLDB) to -3.23% (CLBS);
March: 5 positive, 5 negative and 1 neutral closes
February: 9 positive, 10 negative closes and 1 holiday
January: 10 positive, 9 negative closes and 1 holiday
Companies in my headlights – It’s your decision; I provide an idea and context:
Maintaining Sell: Questions continue …
Biostage (BSTG) closed up +$0.02 to $1.28 with 425 shares traded, after Friday’s -$0.11 to $1.26 with 4,069 shares traded i.e., “pumped”, Thursday’s -$0.13 to 41.37 with 1,153 shares traded, Wednesday’s -$0.10 to $1.50 with 1,500 shares traded and last Tuesday’s -$0.00 with 1,300 shares traded.
Question#1: WHEN with the Q4 8-k and FY20’s 10-Q be released and WHO will be the CFO, principal accounting officer or even a controller to validate the review of the results?
Question#2: Has RSM US LLP provide an “ace” re these “matters” specially to transact trading in Massachusetts or directing others to execute these so-called “promoting or pumping” trades? Review the daily volumes as the stock trades downward … questions exist?
MINORITY PUBLIC shareholders are waiting, watching and weighting responses to MAINTAIN their RIGHTS.
BUY:
Chinook Therapeutics (KDNY) closed down -$0.08 to $18.62 after Friday’s $18.70, Thursday’s $18.12, Wednesday’s $17.97 and last Tuesday’s $17.27 with a positive +$0.41 or +2.20% aftermarket indication.
Pluristem (PSTI) closed up +$0.08 to $5.51 after Friday’s -$0.09 to $5.43 with a positive +$0.02 or +0.36% pre-market indication.
SELL:
Solid Biosciences (SLDB) closed down -$0.01 to $9.51 with a negative -$0.88 or -9.25% pre-market indication on news of interim functional (NSAA, 6MWT and PFTs) and biomarker data, and patient reported outcome measures (PROMs) from six (6) patients after treatment in the ongoing IGNITE DMD P1/2 clinical trial of its lead gene therapy candidate, SGT-001. SLDB announced that patient 7 in IGNITE DMD was safely dosed, with transient and manageable adverse events, none of which were serious. Patient 7 was the first patient dosed in IGNITE DMD under a previously reported clinical protocol amendment and using SGT-001 manufactured with its second-generation process. Additionally, the six patients previously dosed showed no new drug-related safety findings, 17-37 months post dosing. The totality of data collected, and the re-initiation of dosing, support the continued enrollment of patients into the IGNITE DMD study.
SELL into Strength:
Applied Genetic Technologies (AGTC) closed down -$0.07 to $5.24 with a positive +$0.04 or +0.68% pre-market indication.
Athersys (ATHX) closed up +$0.07 to $2.02 after Friday’s $1.95, Thursday’s $2.00, Wednesday’s $1.91 and last Tuesday’s $1.91 with a negative +$0.01 or -0.50% aftermarket indication.
CRISPR Therapeutics (CRSP) closed up +$2.99 to $133.60 after Friday’s -$3.27 to $130.61, Thursday’s +$9.73 to $133.88, Wednesday’s -$1.48 to $124.15 and last Tuesday’s +$12.03 to $125.63 and last Monday’s -$1.03 to $113.62 with a positive +$1.37 or +1.03% pre-market indication.
Editas Medicine (EDIT) closed up +$1.69 to $47.97 after Friday’s -$1.04 to $46.28, Thursday’s +$0.66 to $47.32, Wednesday’s $46.66, Tuesday’s $45.33 and last Monday’s $40.54 with a positive +0.03 or +0.06% pre-market indication.
The BOTTOM LINE: from the title, the “game of whack-a-mole", term is used with reference to a situation in which attempts to solve the ongoing battle against algorithms and electronic trading.
I see some bottom through the mist of momentum and algorithmic rules; but, mostly selling into a few highs.
I STILL am a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim … if one can!”
Many talk of horizons; “as I have said last week, my horizon is usually a Friday’s 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.
