May 25, 2018 8:05am

Free the invested risks and never leave an investor uninformed!

 

The holiday approaches, miss the travel congestion and the potential of event attrition from a possible long weekend-itis

Expect volatility and SELL into strength; it’s better with a dollar in your pocket than a dime

 

Out and about: The FDA approved BioMarin Pharmaceutical's (BMRN) Palynziq for adults with phenylketonuria, a rare metabolic disorder, shares are UP (+$2.73) in the pre-market - BUY

 

If you were a subscriber, and had read Thursday’s closing “brief” you’d understand how today’s pre-open indications shed light on share pricing!

 

 

Get set for a FLAT open

Dow futures are DOWN -0.09% (-0.23 points) and NASDAQ futures are barely UP +0.02% (+1 point)

 

U.S. stock index futures pointed to a flat open Friday morning, amid improving market sentiment

European stocks were higher, as market participants' fears were calmed by North Korea's response to President Trump's decision to cancel a landmark summit.

Asian stocks drifted lower on Friday, although the Nikkei 225 eked out slight gains.

 

Data docket: durable goods data for April are scheduled to be released at around 8:30 a.m. ET, with consumer sentiment data for May expected to follow later in the session

 

Today’s indications:

  • The iShares Nasdaq Biotechnology (IBB) is NOT indicating in Friday’s pre-market;
  • The SPDR S&P Biotech ETF (XBI) is NOT indicating in Friday’s pre-market;
  • The Health Care Select Sector SPDR ETF (XLV) is NOT indicating in Friday’s pre-open;
  • The iShares Russell 2000 (IWM) is indicating an UPSIDE of +0.33% in Friday’s pre-open

 

Out and about:

BMRN Palynziq is the first approved enzyme substitution therapy to target the underlying cause of phenylketonuria, or PKU, by helping the body to break down phenylalanine, an amino acid found in protein-rich foods such as meat, dairy and eggs.

  • The FDA approved Palynziq for adults who have uncontrolled concentrations of phenylalanine above a specific threshold despite other treatments. The drug can cause a severe allergic reaction, the company said.
  • About 11,000 people are living with PKU in the United States, according to BioMarin. Infants are screened at birth for the condition to make sure they are diagnosed and treated early. If left untreated, the inherited disease can cause brain damage, leading to seizures, mental disorders and other neurological complications. Patients are treated throughout their lives, and must have a restricted diet as well.

BMRN had closed down -$0.18 to $88.28 on Thursday.

 

Henry’omics:

U.S. financial markets will be shut on Monday in observance of Memorial Day, while the bond market may see lighter action on Friday, as the Securities Industry and Financial Markets Association suggests an early close of 2 p.m. ET.

Friday’s moves:  a whole lot of liquidity should be sought  

From Thursday’s night’s newsletter: “one can never escape the sector moves. Not an addiction but, “never leave an investor uninformed’ – my motto!  Low volume is still a concern as the upside was broader (range of +$0.04 to -$2.28) in 23 equities while the downside ranged weakly and weaker (-$0.028 to - $0.80 with a topper at -$2.40) was in 18 stocks

We are all but done for the month of May and the old adage of “sell in May and go away” has weakened as measured by eighteen (18) sessions with twelve (12) positive and five (5) negative closes;

  • In the last five  (5) sessions, the iShares NASDAQ Biotechnology (IBB) was down in one (1) and up in four (4) session after Thursday’s +0.08%, Wednesday’s +0.15%, Tuesday’s +0.32%, Monday’s -1.32% and last Friday’s +0.20% % - Thursday was lean and down trending after Monday’s negative response thus I perceiving a decline;

The advance/decline lines (A/DL) have also been slipping since last Monday and ...

  • Thursday’s gainers ranged from +0.11% <CRSP +$0.08 > to +7.5% <VSTM +$0.40 > in 23 equities;
  • Thursday’s decliners ranged from –0.20% <BMRN -$0.18 > to -15.09% <AGTC -$0.80 > in 18 equities;

 

Last five (5) sessions:

  • Thursday closed POSITIVE with 18 decliners, 23 advancers and 4 flats;
  • Wednesday closed POSITIVE with 16 decliners, 28 advancers and 1 flat;
  • Tuesday closed POSITIVE with 16 decliners, 27 advancers and 2 flats;
  • Monday closed NEGATIVE with 30 decliners, 12 advancers and 3 flat;
  • Last Friday closed NEGATIVE with 23 decliners, 22 advancers and o flats;

 

My headlights:

I exited early stage right pre the holiday weekend yet I will still create an ode …

There are too many market “tagging” issues that could” blow-up” the indexes. So I am happy to SELL the overbought and ignore those who have fallen to the “wayside” this week!

I will continue with my heavy (yard and pool) labor ending with two Aleve and more (non-liberal) use of “Grey Goose”.  The “babe” has a birthday – so she gets a pass and gets to watch and critique as I end the day crippled but with lessened anxiety about the sector and market!

Be safe if traveling and without market and sector anxiety …

 

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.