July 9, 2019 8:38am

We are due for an upside fling, a game of “pick-up stocks” is needed; some of the oversold are tempting to acquire for the very short-term

Pre-open Indications:  1 BUY and 2 SELLs

Yesterday’s tin could be today’s gold or gold plated until scraped, revealed and sold!

 

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 DOWN -0.35% (-93 points), S&P futures are DOWN -0.33% (-10 points) and NASDAQ futures are also DOWN -0.34% (-26 points)

 

U.S. stock index futures were lower on Tuesday morning, as traders waited to hear from Fed Chair Powell;

EU markets are struggling after expectations are just beyond their reach as Deutsche Bank workers began to leave offices in New York, London, Sydney and Tokyo as the German lender began to slash 18,000 jobs in a 7.4 billion euro ($8.3 billion) restructure. The pan-European Stoxx 600 fell 0.7% during the morning session;

Asia Pacific shares from mainland China, Hong Kong, Japan and Australia declined as matched to expectation by their closes

 

Data docket: a new National Federation of Independent Business survey, released at 6 a.m. ET, showed small business confidence slipping in June. A new JOLTs report will be released at 10 a.m.

 

Henry’omics:

The sector and markets closed lower on Monday on the back of negative sentiment!

The big focus, however, is on the Fed; markets are waiting to hear Fed Chair Powell’s testimony on Wednesday. This comes just after a stronger-than-expected jobs report raised questions about the central bank’s rate policy. Powell also gives a speech at 8:45 a.m. ET on bank stress tests on Tuesday.

From Monday’s post “July so far has been about negative pricing and session closes. Downside risk is playing early to the upcoming quarterly results and a set-up for the oversold to be “played” until Q2 reporting begin.”

  • The NASDAQ was down -63.41 points or -0.78% to 8,098.38;
  • The close was negative with an A/D (advance/decline) line of 18/24 and 1 flat and 2 acquired;
  • The range of the 18 upside was +0.06% (BLUE) to +22.53% (ADVM) while the 24 downside ranged from -0.10% (AXGN) to -5.29% (RARE);
  • 8 out of the 18 upside had higher than the 3 month average volume;
  • 7 out of the 24 downside had higher than the 3 month average volume;
  • The iShares NASDAQ Biotechnology (IBB) indicator: Monday closed down -1.36% after Friday’s -1.54% - look for some upside ticks;

 

Q3/19 so far:

  • there were 1 positive, 1 holiday and 4 negative closes;

 

Companies in my headlights – It’s your decision; I provide an idea and context ...

Adverum Biotechnologies (ADVM) closed up +$2.74 to $14.90 and has a positive +$0.10 or +0.67% aftermarket indication. ADVM has seen a robust preliminary anatomical response, with no serious adverse events, from the first cohort of patients in the OPTIC P1 clinical trial. The 24-week data from the first cohort of patients with wet AMD treated with a single intravitreal injection of its novel gene therapy ADVM-022; the chart looks a little “spikey” – SELL;

BioLife Solutions (BLFS) closed up +$2.50 to $18.21 and a positive+$0.04 or +0.22% aftermarket indication however, in the all stock deal with SAVSU Technologies will deliver dilutionary affect – SELL;

ReNeuron (RENE.L) closed up +$10.00 to $240.00 on low volume (120.1 K versus the 3 month average = 258.9 K shares). RENE.L has a timing differential with the US markets and is exhibiting a +$14.00 pre-market indication – 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.