Happy 4th of July from iBankCoin Laboratory

Greetings from the land of victory, the land of brawn and industry and freedom, greetings from the United States!

Hopefully you are enjoying buckets of Miller Low Life with friends and family, so much so that these words appear a bit fuzzy.  Remember, the good scientists in Palo Alto built Uber for you, so no need to go barrelling down the interstate in your Buick.  There are plenty of strangers who will happily transport you to-and-fro.

The markets are open for a few hours Monday, which is fantastic because there are stocks to purchase.  Which ones?  We are not entirely sure yet.

But stay tuned, we are about to go live on iBankCoin YouTube to build Phase II of the systematic equity portfolio that is taking the financial world by storm.

A quick note on IndexModel.  It is neutral for a second week.  All machines are calibrated, and all info parsed to ensure accurate readings.  It is our duty to keep a watchful eye on the financial markets, no matter who is celebrating holiday.  It is this discipline that affords the kind scientists at iBankCoin the freedom promised to us by our Founding Fathers and Elon Musk (all Praise and Glory to The Leader).

If even one sound bite, video clip, blog entry, tweet, insta, email, between us gets you one step closer to real freedom, then we have done our job.  You have no fucking idea how much I appreciate you guys for finding my content worth your time.  Thank you.

NASDAQ futures are coming into Friday flat after an overnight session featuring elevated range and volume.  Price held the Thursday range overnight during a balanced session.  At 8:30am, Personal Consumption Expenditure data was in-line with expectations.

Also on the economic agenda today we have Chicago purchasing manager at 9:45am and the final June reading of U. of Michigan Confidence at 10am.

Yesterday we printed a double distribution trend down.  The day began with a gap down and drive lover.  This continued well through lunchtime.  Responsive buyers stepped in and defended ahead of May 18th lows and we worked back to the daily midpoint by the close of trade.

Heading into today my primary expectation is for sellers to work down through overnight low 5623.50 and test below the Thursday low 5601.  Look for buyers down at 5577 and two way trade to ensue.

Hypo 2 buyers work up through overnight high 5681 and continue higher, up to 5700 before two way trade ensues.

Hypo 3 chop, contained trade between about 5680 and 5620.  Drift into the holiday.

Levels:

Volume profiles, gaps, and measured moves:

The chop continues.  NASDAQ futures spent the entire evening trading lower.  Range was normal while volume was elevated.  At 8:30am GDP came out better than expected and Initial/Continuing jobless claims came out worse.

No other economic events today.  Today is the iPhone’s 10th birthday.

Yesterday we printed a trend up.  A gap up was sold into.  A brief probe below Tuesday’s trend down revealed a responsive bid, and the rest of the day was spent exploring higher.

Heading into today my primary expectation is for a move down to 5711.25 which finds a responsive bid and two way trade ensues.

Hypo 2 buyers work into the overnight inventory and close the gap up to 5764.50 then continue higher, up through overnight high 5776 ultimately closing the gap up to 5779 before two way trade ensues.

Hypo 3 strong sellers sustain trade below 5711.25 setting up a move to target 5679.

Levels:

Volume profiles, gaps, and measured moves:

The numbers are talking.  Phase one of the Exodus quantitative investing method has returned more than two times the S&P500:

Over the weekend phase two will be built live.  I will come to work Sunday, like a priest, and choose 12-15 stocks to hold for the next 12 months. I will do this live on YouTube, and if no technical issues arise, yours truly will broadcast his beautiful, boyish face in vivid 4k.

Do you understand how disturbingly simple my stock market investment approach is?  Entirely systematic.  Zero subjectivity.  $39.80 in fees per year (motif commission to buy up to 30 stocks).  Four adjustments per year that take about 30 minutes.

If you want, watch the video of my building phase one:

These portfolios are all held live by me and my people.  In three years time, this will be my greatest work ever.

NASDAQ futures are coming into Wednesday gap up after an overnight session featuring extreme range and volume.  Price continued lower overnight trading down to prices unseen since May 18th before discovering responsive buyers.  At 8:30am advance goods trade balance and wholesale inventories data were both better than expected.

Also on the economic agenda today we have pending home sales at 10am, crude oil inventories at 10:30am, a 2-year floating rate note auction at 11:30am, and a 7-year note auction at 1pm.

Yesterday we printed a trend down.  The day began with a gap down below the Monday range.  Sellers sold into the gap down, and after a morning of two-way trade sellers continued pressing the market lower in a trend-like manner.

Heading into today my primary expectation is for buyers to press up through overnight high 5698.50 and trade up to 5712.50 before two way trade ensues.

Hypo 2 sellers work into the overnight inventory and close the gap down to 5677.5 then continue lower, but stall out around 5650 and two way trade ensues.

Hypo 3 strong sellers work down through overnight low 5632 and trade down to 5615.50 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

NASDAQ futures are coming into Tuesday gap down after an overnight session featuring normal range and volume.  Price worked lower overnight, pressing down into last Wednesday’s range before settling into balance.  At 9am the Case-Shiller Composite-2o data came out below expectations.

Also on the economic agenda today we have Consumer Confidence at 10am, a 4-week T-bill auction at 11:30am, a 5-year Note auction at 1pm. Janet Yellen is also speaking in London, England at 1pm.

Yesterday we printed a double distribution trend down.  After opening the week with a strong gap up and early drive higher, responsive sellers stepped in and sold the entire gap.  Then they continued selling, ultimately stalling out ahead of last Friday’s low before balanced trade kicked in.

Heading into today my primary expectation is for buyers to work into the overnight inventory and close the gap up to 5779.  From here we continue higher, up through overnight high 5784 to tag the naked VPOC at 5790 before two way trade ensues.

Hypo 2 sellers press down through overnight low 5743.75 and continue lower, closing the gap down at 5733.50 before two way trade ensues.

Hypo 3 stronger sellers trigger a liquidation down to 5712 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

NASDAQ futures are coming into Monday gap up after an overnight session featuring normal range and volume.  Price worked higher during the Sunday evening-to-Monday morning extended trade after spending 10 minutes trading lower.  The other twelve hours and fifty minutes were spent trading higher.  At 8:30am Durable Goods data was well below expectations.

No reaction.

Also on the economic docket today we have 3- and 6-month T-bill auctions at 11:30am and a 2-year Note auction at 1pm.

The economic calendar is light all week.  It is summertime, after all.

Last week began with an impressive gap up—a much higher magnitude gap up than today’s—and then a drive higher at the open.  This set the tone for the entire week.  The tone was, “This is summer. Go live a little. We’ve got this.”  The last week performance of each major index is shown below:

On Friday the NASDAQ printed a double distribution trend up.  The day began with a gap lower.  Sellers made an early probe below Thursday’s low which found a responsive bid.  We spent the rest of the day trading higher, ultimately closing at the weekly high.

Heading into today my primary expectation is for buyers to gap-and-go higher, up to 5876 before two way trade ensues.

Hypo 2 buyers work even higher, up to 5888.25 before two way trade ensues.

Hypo 3 sellers work into the overnight inventory and close the gap down to 5812.75.  Then they continue lower, down to 5791.50 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

Greetings from the cool northern planes lads!

It is with humility, and three days without hot food that the good scientists of iBankCoin labs took to the satellites to connect with mother ship and prepare a strategy session for the end of June.

Last week we came out with a bearish call.  Come Monday, before we even had a chance to take action, the market made it evident that selling was a fool’s errand.  A pro gap up and opening drive higher nullified the Sunday reading.

Sometimes you have to improvise if you intend to survive.

Therefore, it comes as somewhat of a relif that the systems generated a neutral reading heading into next week.  Neutral, barely, by 0.02.  Still, the model is neutral.

We are headed into month end, and into a weekend most 9-5 corporate slaves will use to celebrate AMERICA earning its independence.  Then they will independently imprison themselves back to their low-purpose job.  Summers were intended for man to fart around, following whichever whim pulls at him most.  Do not let anyone tell you otherwise.

Models are neutral, the heat wave has passed, we are blind headed into July.

Exodus members, the 137th Edition of Strategy Session is live, go check it out!

NASDAQ futures are heading into Friday flat after an overnight session featuring normal range and volume. Price held Thursday’s range overnight in a non-eventful extended trading session.

The economic calendar is super light—manufacturing/service/composite PMI data is out at 9:45am then new home sales at 10am.

Get in your car and drive to a national forest

Yesterday we printed a normal variation up.  Day began with a slight gap down that was sold into.  After poking the naked volume point-of-control at 5771 the buyers again reasserted their dominance, responding to the discounted prices with vigor.  This led to markets rallying a bit but stalling ahead of the week’s high-mark, which was established around 2am on Thursday.  Sellers prattled onto the tape late in the day.

Heading into Friday my primary expectation is for sellers to work down through overnight low 5775 and continue lower, down to 5757.75 before two way trade ensues.

Hypo 2 buyers press up through overnight high 5800.50 and probe the weekly high 5814.50.  Look for sellers up at 5823 and two way trade to ensue.

Hypo 3 stronger sellers manage to sustain trade below 5755.50 setting up a move to close the open gap at 5733.50.

Levels:

Volume profiles, gaps, and measured moves:

Are you climate change deniers happy?  It was fine when paranoid Americans cast doubt upon the 4th estate because by-and-large, major media outlets shill their toxic ideologies to teevee watchers.  But then you turned your pitch forks on scientists, and that is when you made a fatal mistake.  Our best DNA editing research is moving offshore.  Intella Therapeutics announced Monday that China’s State Intellectual Property Office plans to grant the company a patent covering the CRISPR/Cas9 single-guide gene editing methods and compositions.

Intella [ticker: $NTLA] can now operate in China, free to explore the powers of DNA editing for the explicit benefit of their people.

As you might imagine, the prospect of taking CRISPR research out from beneath the thumb of a collectively ignorant populace and their authoritarian leader is creating quite a bit of excitement in this small corner of the biotech industry.  Your gods cannot stops shares of DNA editing companies like SGMO, NTLA, and EDIT from racing higher*.

*writer’s note: I am long SGMO, NTLA, and EDIT

So like most breakthroughs in science, the crowd is being proven wrong.  Natural forces are prevailing.

In other CRISPR news, Sangamo (which sounds like a nice Italian name) successfully raised $72.5 million dollars on Wednesday via a secondary stock offering.  This secondary was received surprisingly well by investors.  Just over 24 hours after issuing 10,000,000 shares at a price of $7.25 the stock is trading over $9.  This offering speaks to the overall health of equity markets.  It also tells investors that $SGMO has their affairs in order because successfully completing a secondary is a shit-ton of work, especially for a small outfit like Sangamo.

So there you have it.  Despite the primates in congress and their apish behavior, science is prevailing. DNA editing research shall press onward…in China.

Long live science

Long live discovery

No more living in the past in summary!