June 26, 2019 8:03am

Time for a revival after five (5) negative sessions; the oversold are begging to be picked to be “the stock of the day”

Pre-open indications: 2 SELLs and a prayer

Yesterday’s tin could be today’s gold!

 

Who is defining the metrics for investors and keeping you notified of the sector and market fluctuations?  I’d be reading if a subscriber to see which equity has stepped to the upside or stubbed its share pricing toe!

 

Dow futures are UP +0.39% (+104 points), S&P futures are UP +0.42% (+13 points) and NASDAQ futures are UP +0.65% (+50 points)

 

U.S. stock index futures jumped after Treasury Secretary Mnuchin spoke of the U.S. and China being almost there on a trade deal;

European stocks rebounded from early after tales of U.S. and China are close to a trade deal;

Asia Pacific stocks struggled for gains as major indexes in Japan, South Korea, and China were down.

 

Data docket: durable goods numbers at advanced economic indicators due at 8:30 a.m. ET.

 

Henry’omics:  

Today's theme : EXPECTATION of the oversold to become OVERBOUGHT!

President Trump and Chinese President Xi Jinping are likely to make progress in stalled trade talks at the forthcoming Group of 20 (G-20) meeting this weekend – it has been said the talks are 90% complete <CNBC> and on the path to completion.

Traders are waiting for the outcome of a meeting between President Trump and Chinese leader Xi Jinping that’s expected to take place this weekend on the sidelines of the Group of 20 summit in Osaka, Japan.

 

From Tuesday night’s post, “another flutter of negative sentiment as weakness shoves many out of the sector, markets and ETFs.”

  • The NASDAQ was down -120.98 points or -01.51% to 7,884.72;
  • Tuesday’s range of the 20 upside was +0.05% (BOLD) to +11.78% (MESO) while the 21`downside ranged from -0.15% (AXGN) to -9.63% (CUR -$0.03);
  • 3 out of the 20 upside had higher than the 3 month average volume;
  • 7 out of the 21 downside had higher than the 3 month average volume
  • The iShares NASDAQ Biotechnology (IBB) indicator: Tuesday closed down -0.21% after Monday closed down -2.13%.

 

Q2/19 so far:

  • In June, there were 7 positive, 1 neutral and 9 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:

Global Blood Therapeutics (GBT) closed down -$0.86 to $62.43 as the market closed with a $200 M offering and a $30 M overallotment announced and a negative -$2.03 or -3.68% aftermarket indication. Cantor Fitzgerald is the book runner - SELL

ReNeuron (RENE.L) closed flat at $205.00 after Monday’s -$1.00, Friday’s -$1.50 to $206.00, Thursday’s -$12.50 to $207.50, Wednesday’s -$17.50 to $220.00 and Tuesday’s -$5.00 to $237.50. RENE.L has been floating on the market’s lows with a negative -$1.51 time differential indication – 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.