May 28, 2019 8:09am
However, the ride will be brief for the overbought while trending for the oversold
June will be volatile as Q2 comes closer to fruition
Pre-open indications: 1 BUY and 2 SELLs
Insight from a volatile climate; RMi outlines preludes and aftermaths defining the daily dose of factors, investment thesis and objectivity!
The 6 W’s: Who, what, where, when, why and what of it …
Dow futures are UP +0.09% (+22 points), S&P futures are DOWN -0.01% (+1 points) and NASDAQ futures are UP +0.16% (+12 points)
Dow futures slightly lower while last Friday’s gain capped by lingering sector (our 45 company universe) worries;
European stocks fell amid renewed concerns over Italy’s growing deficit; the pan-European Stoxx 600 index was down around 0.3% during mid-morning deals;
Asian Pacific markets and stocks are up as President Trump ended his visit to Japan
Data docket: None
Tuesday, we are on our own although I see movment, i'd be cautious!
Monday was a market holiday, Europe stocks close higher in the wake of EU elections while Chinese markets finish higher and Trump was in Japan for a state visit.
So Tuesday, we start all over again … in the battle of the oversold versus the overbought – trading is ruling the sector as investors remain … I believe holding their depleted portfolios.
Markets are still effected by global trade developments, yet it’s like an under skin boil … slow to eruption again.
From Friday’s closing bell post, “sell in May and go away has been a refrain. Investing remains vulnerable to headline news; however, there is more to uncertainty and volatility on the way while the “machines” dampen the sector.”
- Friday’s range of the 29 upside was +0.07% (SAGE) to +7.60% (AGTC) while the 12 downside ranged from -0.57% (BLFS) to -14.62% (ONVO);
- Friday: 7 out of the 29 upside had higher than the 3 month average volume;
- Friday: 3 out of the 12 downside had higher than the 3 month average volume;
Q2/19 so far:
- In May, there were 10 negative, 1 holiday and 8 positive closes;
- In April, there has been 10 positive and 11 negative closes;
Companies in my headlights – It’s your decision; I provide an idea and context: post earnings release:
BioMarin Pharmaceuticals (BMRN) closed up +$2.10 to $89.07 and has a negative -$2.62 or -2.94%; data from a group of patients in a late-stage study of its gene therapy for a bleeding disorder showed the drug met certain criteria, which will help it to apply for approval in the U.S. and EU. BMRN is testing the drug valoctocogene roxaparvovec in adults with severe hemophilia A, a rare genetic disorder in which blood does not clot easily - SELL;
Biostage (BSTG) closed flat at $2.58 with 195 shares traded – does one really know what they’re buying or holding onto – an IND filing pushed-out again in Q3 that was promised two (2) no three (3) years ago. The cash position is dwindling precipitously - Maintaining SELL;
ReNeuron (RENE.L) closed up +$20.00 to $305.00 after Thursday’s -$2.50 to $285.00 after Wednesday’s $287.50 after Tuesday’s +$10.00 to $287.49, Monday’s -$14.50 to $302.50. RENE.L has a time differential trading with an upside of +$4.05 – 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.