Today in Focus: FED Meeting & QURE

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Market Condition: Cautious into Binary Event

Commentary: Some profit taking occurred yesterday. This shouldn’t be a surprise. We saw lot’s of names knock on resistance and reject. Today is FOMC Decision. It’s FED Warsh’s first meeting as Chair. I think it’s important. Not the decision but more so the tone and the commentary. I still believe we probably need some time in a range here for stocks to set up properly and for my style of trading of course we need catalysts.

Cautious today until after the meeting. Not looking to enter delayed reactions. Low market exposure overall. Base hits for now. Not looking to go for the jugular.

In Play

QURE: BLA Submission for Huntington’s Disease Treatment

Key Metrics QURE: Industry Group: Biotechnology, Market Cap: 2.93B, Float: 56.57M, Short Interest: 19.62%, Days to Cover: 6.36, Sales Y/Y TTM: -10.44%, EPS Y/Y TTM: 19.99%, Earnings: May 05 BMO, Exchange: NASDAQ

Catalyst:

Complicated Biotech story. QURE exploded upward last year on positive data for treatment of Huntington’s disease. We traded this at the time and I felt it was 5* +++. Unfortunately the FDA head at the time had other ideas and rejected the data which caused the stock to collapse a few weeks later.

Now we’re back the old and controversial FDA head is gone and the FDA have done a U-Turn and allowed QURE to submit for FDA Approval. This is a major pivot. Normally I wouldn’t be interested in BLA Submission but I think this can have legs. Large short interest. CLPT is a proxy (their tech is the delivery method for the drug).

It’s a biotech so caution advised and likely some early profit taking but these are the two names I’ll be looking at today.

Current Positions: DOCN, SNOW, APPS, DELL, INOD, SMCI (Short)

Closed: AEHR, DOCN

Stocks in Play Watchlist (TradingView Link)

_{Note: This is my methodology for identifying stocks in play. There are many valid approaches to trading catalysts—find the setups, timeframes, and risk parameters that align with your strategy.}