June 26, 2017 7:48am
Which way is which … does one throw the dug?
The upbeat mood pre-market comes after stocks finished mostly higher on Friday
The indexes are still projected up, XLV at +0.17%, the IWM +0.33%, the XBI +0.39% and the IBB seeing stars at +0.69%
Pre-open indication: six (6), 3 BUY and 3 SELLS
A critical indication ahead of “our” universe’s open!
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Higher open expected
Dow futures are UP +0.30% and NASDAQ futures are UP +0.42%
U.S. stock index futures pointed to a higher open on Monday, as investors watched the solid uptick in oil prices carefully, while looking ahead to key data releases.
European markets moved higher during mid-morning deals, as banks rallied on the news that Italy had reached a deal to wind up two ailing regional banks.
Asia closed higher, despite news that Takata had filed for bankruptcy, as oil prices gained more than 1 percent.
Data docket: durable goods and the Dallas Fed manufacturing survey, due out at 8.30 a.m. ET and 10.30 a.m. ET respectively. Meanwhile, three bond auctions are set to take place.
The cell therapy sector closed POSITIVE on Friday, Thursday and Wednesday, NEGATIVE on Tuesday and POSITIVE last Monday NEGATIVE.
The cell therapy sector’s record over the last 5 sessions (of 43 covered companies):
· Friday closed POSITIVE with 14 decliners, 24 advancers and 5 flats;
· Thursday closed POSITIVE with 12 decliners, 27 advancers and 4 flats
· Wednesday closed POSITIVE with 13 decliners, 27 advancers and 3 flats;
· Tuesday closed barely NEGATIVE with 21 decliners, 20 advancers and 2 flat;
· Last Monday closed POSITIVE with 7 decliners, 35 advancers and 1 flat;
Remembering Friday’s closing bell newsletter, the sector “stayed up with momentum.”
- Reiterating, “Russell index is rebalancing for the next year in a year marked by record-setting moves for U.S. equities. The impact of the Russell rebalance is likely to be felt in the final fleeting seconds, or fractions of seconds, as the market closes Friday, and as funds that track the Russell change their composition to reflect the rebalancing, which takes hold on Monday.”
The iShares NASDAQ Biotechnology (IBB) has indicated a 9.27% rise in five (5) days and 8.14% in seven (7) days …
· Friday closed UP +0.20%
· Thursday traded UP +1.27%
· Wednesday +4.12%
· Tuesday +1.27%
· Monday +2.41%
· Friday -0.36%
· Last Thursday -0.77%
Reiterating, the same question, can it stay and continue its run?
- June is ending with the quarter next week topped-off by a holiday week where many will exit this market untrusting what might be coming up – so WHY be TOO LONG!
As I had stated last week, “ENJOY the high, this week will be the determinant as the month and quarter ends and many traders retreat for the July 4th week … EARLY!”
I am hanging in for Monday but, still nervous about the rest of the WEEK!
What did I see on Friday, the DOW closed DOWN -0.01% (-2.53) as the NASDAQ closed UP +0.46% (+28.57) … while the CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market, near 10.02 … down -4.39% after Thursday’s traded near 10.5 …
You’ve made it to the office, turned on the monitor, having just gotten your coffee and it hits you - what could be today’s trades?
Watch list:
- The iShares Nasdaq Biotechnology (IBB) closed up +0.20% on Friday, the aftermarket indicated a positive +$0.26 or +0.08% and indicated a POSITIVE +0.69% in Monday’s pre-market;
- The SPDR S&P Biotech ETF (XBI) closed Friday up +1.40%, the aftermarket indication was a positive +$0.11 or +0.14% and is indicating a POSITIVE +0.39% In Monday’s pre-market;
- The Health Care Select Sector SPDR ETF (XLV) closed down -0.15% Friday, and is indicating a POSITIVE +0.16% in Monday’s pre-open;
- The iShares Russell 2000 (IWM) closed up +0.66% on Friday, the aftermarket indication was a positive +$0.03 or +0.02% and indicating a POSITIVE +0.33% in Monday’s pre-open
Companies in my headlights:
………. We are back to measuring potential momentum for the sector …….
Athersys (ATHX) closed down -$0.03 to $1.55 after Thursday’s $1.58 (-$0.10), Wednesday’s $1.68 (+$0.18), Tuesday’s $1.50 and last Monday’s $1.48 and the previous Friday’s $1.42. June started at $1.42; saw a high of $1.68 and a low of $1.42. - Maintaining SELL;
bluebird bio (BLUE) closed down -$6.50 to $112.00 after Wednesday’s $118.50 (-$1.80) following Wednesday’s $120.30 (+$7.30). June started at $79.20; saw a high of $120.30 and a low of $79.20. After a good run, and a big fall, it’s time to get back in the “cheapening stock”. The aftermarket indication is a positive +$0.70 or +0.63% - BUY;
Juno Therapeutics (JUNO) closed up +$2.02 to $29.00 after Wednesday’s $26.98 (+$0.55), Wednesday’s $26.43 (+$1.77), Tuesday’s $24.66 (+$0.46) after last Monday’s $24.20 (+$0.91). June started at $24.50; saw a high of $29.00 and a low of $21.68 having seen $24.20 twice in ten sessions. The aftermarket indication was a positive +$0.35 or +1.21% - Maintaining BUY;
Kite Pharma (KITE) closed up +$6.67 to $100.68 after $93.99 (+$0.45), Wednesday’s $91.21 (+$1.92) and Monday’s $89.29 (+$1.44). June started at $74.66; saw a high of $100.68 and a low of $73.61. The aftermarket indication is a positive +$1.54 or +1.53% - Maintaining BUY;
Regenxbio (RGNX) closed up +$0.80 to $21.90 after Thursday’s $21.10 (+$0.60), Wednesday’s $20.50 (+$0.95), Tuesday’s $19.55 (+$0.45) and last Monday’s $19.10 (+$0.60). June started at $18.00; saw a high of $20.10 and a low of $18.00 having seen $19.10 twice in five (5) sessions. It’s getting a bit “rich” – a 12.8% premium in four sessions is tempting to traders – Maintaining SELL;
Sangamo Therapeutics (SGMO) closed UP +$0.10 to $9.30 after Wednesday’s $9.20 (+$1.05), Wednesday’s $8.15 (-$0.05), Tuesday’s $8.20 (+$0.25) and last Monday’s $7.95 (+$0.50). June started at $7.00; saw a high of $9.30 and a low of $7.00 having seen $7.20 twice in twelve sessions. SGMO announced an offering of 10 M common stock priced at $7.25 and the aftermarket is a negative -$0.145 or -1.56% – SELL;
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
Henry’s comments are for informational purposes only and are not a substitute for personalized advice. Consult your advisor about what is best for you.
