December 9, 2015 6:33am

 

Portfolios are still getting skewed and investors screwed 

 

Critical information ahead of “our” universe’s open!

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DOW futures are down -0.01% and NASDAQ futures are DOWN -0.04%

 

 

U.S. stock index futures pointed to a softer open on Wednesday after two days of intense volatility in oil markets, which have rocked commodity and mining stocks and added to the anxiety ahead of the Fed's meeting next week.

European markets failed to hold on to early gains amid a slight recovery in oil prices, following a sell-off yesterday.  The pan-European STOXX 600 opened over 0.3% higher but quickly turned negative.

Asian equities ended lower as major markets such as Japan and China released economic data.

 

Data docket: Oil could again be volatile, particularly with 10:30 a.m. ET release of petroleum inventory data expected from the Energy Information Administration. Other data due for release includes wholesale inventories numbers for October due at 10:00 a.m. ET. The Treasury auctions $21 billion in reopened 10-year notes at 1 p.m. ET.

 

 

The RegMed sector closed POSITIVE on Tuesday, NEGATIVE on Monday following a POSITIVE close on Friday after NEGATIVE closes on Thursday and last Wednesday.

Tuesday closed POSITIVE with 16 decliners, 25 advances and 2 flats following Monday’s NEGATIVE close with 40 decliners, 3 advancers and 0 flat.

 

 

Stem, cell and gene therapy regenerative medicine (SCGT&RM) buyers have become more selective and any gains should probably be taken or protected to avoid yet another relapse.

  • It’s a trading market displaying signs of investor’s fatigue!

There are NO indications to the next move in the SCGT&RM sector and market or even how it will take shape.

  • While I watch several patterns for confirmation, “our” universe is telling investors we need to be a bit more patient before making ANY decision.

 

 

Kite Pharma (KITE) $250 M public offering:

KITE has commenced an underwritten public offering of approximately $250 M of shares of its common stock. KITE expects to grant the underwriters of the offering a 30-day option to purchase up to an additional $37.5 M of shares of its common stock at the public offering price, less the underwriting discounts and commissions.

 

  • Jefferies LLC and Citigroup Global Markets Inc. are acting as lead book-running managers for the offering. Cowen and Company, LLC and RBC Capital Markets, LLC are acting as joint book-running managers, and Stifel is acting as co-manager.

 

 

Wednesday’s indications:

After Tuesday’s volatility and upward movement – cause and causation, speculators will cash-in by selling …

  • Bluebird bio (BLUE) closed UP +$2.99 to $55.24 and is down in the aftermarket -$0.23 – SELL;
  • Kite Pharma (KITE) closed UP +$3.59 to $74.85 and is down in the aftermarket -$1.00 - SELL;
  • Harvard Apparatus RT (HART) closed UP +$0.37 with an aftermarket appreciation of +$0.03 – BUY;

 

 

Short version as I head-off to Atlanta, GE … The 2015 World Stem Cell Summit and RegMed Capital Conference.

                                                                                                                                                               

 

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.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.