June 13, 2019 7:31am
Liquidity is still a delicate balance, it’s all about availability and activity
Pre-open indications: 3 BUYs and 1 SELL
Ask yourself, do you know why you own it? What are the catalysts? What's the pipeline look like? Do you understand the CEO's vision and how many different “fallbacks” it has; so if one goes wrong it's not the end of the world?
Companies are not above reproach and are accountable to investor answerability!
Dow futures are UP +0.35% (+91 points), S&P futures are UP +0.39% (+12 points) and NASDAQ futures are UP +0.57% (+43 points)
U.S. stock index futures were slightly higher Thursday, after President Trump declined to set a deadline on levying tariffs on another $325 billion of Chinese goods. Oil prices rebounded more than 2% Thursday morning amid reports of a tanker incident in the Gulf of Oman.
European stocks rebounded as Germany’s 5G auctions drove the telecoms index higher, while a tanker incident caused oil prices to surge. The pan-European Stoxx 600 recovered from a 0.2% fall after the bell to rise 0.4% during the morning session.
Asia Pacific shares were mixed with Hong Kong’s Hang Seng index closed fractionally lower, a day after violent clashes between protesters and riot police over a controversial extradition bill.
Data docket: import prices for May and the latest weekly jobless claims figures will both be released at around 8:30 a.m. ET.
Sector and market focus is largely attuned to swings in sentiment as related to global trade developments with intensifying tensions between the world’s two largest economies. Expectations that trade officials from the U.S. and China will clinch a deal on the side-lines of a G20 meeting in Osaka on June 28-29 have been fading in recent days.
The sector can’t keep being dependent on market headlines; we NEED to get some of our own!
Shares are priced up, then down and then float on the current waves; this quarter hasn’t brought us, investors any good tidings! So are we headed to a VERY dull summer month’s doldrums?
ANY new highs are SUPECT!
From Wednesday night’s post, “returned from the bottom… still a question, what’s sustainable in this volatile market?”
- The NASDAQ was down -29.85 points or -0.38% to 7,792.72;
- The close was positive with an A/DL of 26/17 and 0 flat and 2 acquired;
- Wednesday’s range of the 26 upside was +0.02% (CRSP) to +36.41% (HSGX +$0.08) while the 17 downside ranged from -0.15% (MESO) to -5.10% (RENE.L);
- 6 out of the 26 upside had higher than the 3 month average volume;
- 3 out of the 17 downside had higher than the 3 month average volume;
- The iShares NASDAQ Biotechnology (IBB) indicator: closed down +0.61% after Tuesday’s -0.49% and Monday’s -0.60% after Friday’s +1.62%;
Q2/19 so far:
- In June, there were 4 positive, 1 neutral and 3 negative close, so far;
- In May, there were 14 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:
Applied Genetic Technologies (AGTC) closed up +$0.04 to $3.81 after Tuesday’s -$0.07 to $3.77, Monday’s $3.80, Friday’s $3.63 and last Thursday’s $3.60 – I’d be building a position as clinical date results are due in 2nd half – Maintaining BUY;
BioLife Solutions (BLFS) closed down -$0.19 to $17.38 after Tuesday’s-$0.58 to $17.57, Monday’s $18.15, Friday’s $18.46 and last Thursday’s $18.51– Oversold after profit taking – BUY;
bluebird bio (BLUE) closed down again -$1.00 to $117.46 after Tuesday’s $118.46, Monday’s $118.31 Friday’s $126.43 and last Thursday’s $122.01 - Maintaining BUY;
ReNeuron (RENE.L) closed down -$12.50 to $232.50 after Tuesday’s +$15.00 to $245.00, Monday’s -$25.00 to $230.00, Friday’s -$10.50 and last Thursday -$10.50. RENE.L has a time differential trading with a pre-market downside value of -$1.95 – Maintaining SELL;
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.