The Market Last Week and Ahead
First, the most important date report in the financial universe, the US Non-Farm Payroll Report is Friday. Last Friday authorities seized nine US banks. If people continue to carry trade the dollar and if they start to unwind those trades more traders and investors will have to cover their dollar shorts. That could possibly lead to a domino effect and that could possibly lead to a bit more of a correction. If it was a domino effect, it could be suddenly sharp.
Major Data Reports This Week
Tuesday: Australia Central Bank Interest Rate Decision
Wednesday: Australia Building Approvals, Euro-Zone Producer Price Index
Thursday: UK & Euro-Zone Central Bank Interest Rate Decisions
Friday: Australia Quarterly Monetary Policy Statement, Japan Concident Index, Australia Foreign Reserves, Canada Net Change in Employment, US Non-Farm Payrolls.
My Stock Pick This Week
Is a short-sell on a contract clinical development services company in the biotech industry. Fundamentally its current income is okay with its balance sheet holding about 60% debt to equity which is a negative in this cash is king time we are in currently, their cashflow stinks, and the stock-chart looks like it could provide a good low-risk high-reward short opportunity, especially if the broad market continues to sell off.
Sell Short Kendle International – Ticker KNDL
Sell Entry: 17.60 to 16.59
Stop-Loss: 18.66 or Higher
Take Profit Areas: 15.58, 14.57 to 13.56, 12.65 to 11.14
Kendle International Company Profile
Kendle International Inc., a clinical research organization, provides clinical development services on a contract basis to the biopharmaceutical industry worldwide. The company’s clinical development services include clinical trial management, clinical data management, statistical analysis, medical writing, regulatory consulting and organizational meeting management, and publications services. It operates through two segments, Early Stage and Late Stage. The Early Stage segment focuses on its Phase I operations. The Late Stage segment comprises clinical development services related to Phase II through III clinical trials; late phase clinical development services related to Phase IIIB and IV clinical trials. It also provides regulatory expertise and consulting services at various stages of drug and device development; designs clinical programs and clinical trial protocols, reviews programs, and provides gap analysis; offers consulting services for nonclinical development for small molecules, biologicals, vaccines, and devices; assists in the U.S. Food and Drug Administration application process; and involves in collection, analysis, and reporting of drug safety data. In addition, this segment offers customized clinical data management with the ability to connect into and utilize a customer’s own data systems. Kendle International operates in North America, Europe, Asia/Pacific, Latin America, and Africa. The company was founded in 1981 and is based in Cincinnati, Ohio.
Click here to review and trial the Trading Software we used in determining our buy long position on KNDL.
Click the Kendle International Stock Chart for a larger view.