May 24, 2018 8:06am

I’m seeking early release from the market watching cell block

Having been incarcerated for defining risks

 

And I will be grabbing ANY gains to monetize my break-out and beat the exodus

 

 

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

 

Get set for a mixed open …

Dow futures are DOWN -0.13% (-32 points) and NASDAQ futures are UP +0.01% (+0.75 points)

 

U.S. stock index futures pointed to a mixed opening.

European markets rallied as investors monitored a bounce across financials and tech stocks.

Most Asian markets close lower as trade concerns return to focus;

 

Data docket: existing home sales data for April are due to be published around 10 a.m. ET, followed closely by the Kansas City Fed manufacturing survey for May.

 

Today’s indications:

  • The iShares Nasdaq Biotechnology (IBB) is indicating a DOWNSIDE -0.05% in Thursday’s pre-market;
  • The SPDR S&P Biotech ETF (XBI) is indicating a UPSIDE of +0.15% in Thursday’s pre-market;
  • The Health Care Select Sector SPDR ETF (XLV) is NOT indicating in Thursday’s pre-open;
  • The iShares Russell 2000 (IWM) is indicating an UPSIDE of +0.1% in Thursday’s pre-open

 

Henry’omics:

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

From Wednesday’s night’s newsletter: “a wobbly start to the session ended with an algorithmic finger in the dike which closed to the upside. Still my concern is low volume as… The upside was broader (range of +$0.01 to -$5.81) in 28 equities while the downside ranged weakly and top-heavy (-$0.01 to -$8.49) was in 16 stocks.”

RISK is still a four letter word, undermining indexes!

We are half-in for the month of May and the old adage of “sell in May and go away” has weakened as the new month measures seventeen (17) 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 Wednesday’s +0.15%, Tuesday’s +0.32%, Monday’s -1.32%, Friday’s +0.20% and last Thursday’s +0.06% - I feeling/perceiving a decline;
  • Wednesday’s decliners ranged from – 0.16% <MESO -$0.01 > to -5.16% <SAGE -$8.49 > in 16 equities;
  • Wednesday’s gainers ranged from +0.19% < VSTM +$0.01> to +11.71% <MDXG +$0.90 > in 28 equities;

 

Last five (5) sessions:

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;

Friday closed NEGATIVE with 23 decliners, 22 advancers and o flats;

Last Thursday closed POSITIVE with 20 decliners, 23 advancers and 2 flats;

 

Companies in my headlights:

Heading to a long holiday weekend, I am exiting stage right and early – 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 still be digging holes, moving rocks and spreading loam as my one and only “boss” (she who must be obeyed) adds to another happy year and together! But … I will make an allowance for fewer candles!

How will I answer any question proposed ... Grey Goose!

 

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.