March 18, 2019 7:52am
It’s tricky to pin down value during “earnings” season or as I say with LPS (loss-per-share) pricing
…Which impedes investor’s view of where share pricing is going following all the fluctuation?
News: ReNeuron Group plc (RENE.L) updated progress with the ongoing P1/2 clinical trial in the US of its hRPC cell therapy candidate in the blindness-causing disease, retinitis pigmentosa (RP) with the first subject in the cohort treated last week at Massachusetts Eye and Ear, in Boston.
Pre-open indication: 1 BUY
I focus on indication analysis; an indication can be a development of almost any kind. Specifically, it may be a confirmed fact, a possible fact, or an absence of “something”, a fragment of information or even an observation. The sole provision is that it provides insight to provide some vision into a likely course of action.
Skim if you can trim, buy if it will fly and sell if compelled!
Dow futures are DOWN -0.31% (-81 points), S&P futures are DOWN -0.04% (-1 points) and NASDAQ futures are UP +0.02% (+2 points)
U.S. stock index futures were fluctuating as investors wait for the start of a two-day Federal Reserve policy meeting this week, Boeing issues;
European markets open slightly higher ahead of Federal Reserve meeting while market focus is largely attuned to the latest Brexit developments;
Asian stock markets advanced as investors awaited developments on the U.S.-China trade front and the U.S Fed meeting.
Data docket: The Biz leader’s survey and the NAHB survey will be out at 8.30 and 10 a.m. ET, respectively.
Monday’s indications in the pre-market:
The iShares Nasdaq Biotechnology (IBB) is NOT indicating;
The SPDR S&P Biotech ETF (XBI) is indicating is NOT indicating;
The Health Care Select Sector SPDR ETF (XLV) is indicating a POSITIVE +0.25% UPSIDE;
The iShares Russell 2000 (IWM) is indicating a POSITIVE +0.01% UPSIDE;
Just another Monday – I am worried about the week after a quadruple witching Friday (last).
How much “covering” really went on?
I see NOTHING that turns me on and the potential for downside exposure!
From Friday’s closing bell post, “the quadruple witch breezed through the sector highlighting covering risk with share swings; that is what the SELL button is for as strength materializes before it vaporizes.”
- As I had stated, “There were less of a reason to sell; it’s more of a reason to watch and nibble after many funds and traders “covered” their positions before the quadruple witching just sit tight and see which way things go.”
- In March’s 11 sessions, there were 3 negative and 8 positive closes;
- 20 out of the 32 upside had higher (than the 3 month average) volume
- 8 out of the 12 downside experienced greater volume (than the 3 month average)
- In the last six (6) sessions, the IBB was up four (4) times and down one (1) for an aggregate of +4.63%
Companies in my headlights – It’s your decision; I provide an idea and context:
I am NOT commenting this a.m.; as I feel trading has gotten out-of-hand on many equities – there is just NOT any rhyme or reason … let the bell ring and watch the first hour!
ReNeuron (RENE.L) had news of its P1/2 trial – and is up +$4.70 or +6.71% to $74.70 – BUY;
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.