June 24, 2019 7:48am
Is a term used to emphasize that something happens or might happen in a lot of different ways in my sector’s “universe”– whether this market works to our advantage and not!
That’s my 45 covered companies!
News: Mesoblast (MESO)the FDA has granted the company’s product candidate, rexlemestrocel-L, Orphan Drug Designation for prevention of post-implantation mucosal bleeding in end-stage chronic heart failure (CHF) patients who require a left ventricular assist device (LVAD).
Pre-open indications: 1 BUY and 2 SELL
Insight from what's likely to remain a volatile climate; RMi outlines the preludes of a new week defining the daily dose of mitigating factors of share pricing, alternating sentiment opinion laced with objectivity!
Sustainability remains a cause for concern
Dow futures are UP +0.20% (+53 points), S&P futures are UP +0.19% (+6 points) and NASDAQ futures are also UP +0.23% (+18 point)
U.S. stock index futures were higher;
European stocks are mixed as the pan-European Stoxx 600 traded around the flat line;
Asia Pacific markets are also mixed with oil prices continuing to rise
Data docket: Dallas Fed manufacturing data due at 10:30 a.m. ET.
Futures are slipping yet still up! Could be wrong, very wrong or on the mark - I don't expect much from today's session!
Traders are heavily focused the escalating tensions between Iran. Over the weekend, President Trump announced that the U.S. will impose “major” additional sanctions on Iran on Monday but Iran dismissed the threat as “just propaganda.”
After a declining week (Tuesday through Thursday), the “quadruple witching” Friday and the resulting upswing initiated by an Advance/decline (A/D) line of 22/19 – we did close positive but, does it set-up the week!
The month and quarter are ending – step lightly and carefully!
From Friday night’s post, “the week pivoted to a positive session; a quadruple witching as investors’ unwound futures and options contracts prior to expiration! Month and quarter’s end is getting … closer!”
- The NASDAQ was down -19.63 points or -0.24% to 8,031.71;
- Friday’s range of the 22 upside was +0.53% (AGTC) to +13.84% (VSTM) while the 19 downside ranged from -0.40% (SLDB) to -5.82% (KOOL -$0.17);
- 10 out of the 22 upside had higher than the 3 month average volume;
- 5 out of the 19 downside had higher than the 3 month average volume;
- The iShares NASDAQ Biotechnology (IBB) indicator: Friday closed up +0.76% after Thursday +0.42%, Wednesday +0.57%, Tuesday +1.38% and last Monday’s +2.96% - an upside pf +6.09% for the week - just another indicator yet I’m still feeling gravity will be a force.
Q2/19 so far:
- In June, there were 7 positive, 1 neutral and 7 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:
Mesoblast (MESO) closed Friday down -$0.03 to $4.67; Monday has started with the FDA granting the company’s product candidate, rexlemestrocel-L, Orphan Drug Designation for prevention of post-implantation mucosal bleeding in end-stage chronic heart failure (CHF) patients who require a left ventricular assist device (LVAD) – BUY;
ReNeuron (RENE.L) closed down again -$1.50 to $206.00 after Thursday’s -$12.50 to $207.50 after Wednesday’s -$17.50 to $220.00, Tuesday’s -$5.00 to $237.50 and last Monday’s -$7.50 to $242.50. RENE.L has been floating on the market’s lows with a U.S. a negative -$0.35 or -0.17% differential indication – Maintaining SELL;
Vericel (VCEL) closed up again +$0.47 to $18.34 after Thursday’s +$0.43 to $17.87 after Wednesday’s +$0.63 to $17.44, Tuesday’s -$0.63 to $16.81 and last Monday’s -$0.30 to $16.51. The chart looks likes its time skim the froth, statistically there is a 52 week change of +52.68% and the closer we get to the end of the month (June) as the summer solstice begins and end of the quarter (Q2)- 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.