August 16, 2019 8:14am
Reiterating, I’ve been dipping my “toe” in these markets; even as I lost money, there will be a reward
The sector’s Advance/Decline (A/D) line deepened with 28 following 33 of my “covered” 45 being down after Monday (29 decliners) and last Friday’s (30 decliners) negative closes …
Be bold, Friday’s session finalizes the week’s disruption; If you were a subscriber … you would understand why!
If you think you understand these markets, review your “positions” and think again and then again. After the "storms"darkness, there is usually light at the end of the disruption!
Dow futures are up +0.90% ( + 230 points), S&P futures are up +0.90% ( +26 points) and NASDAQ futures are also up +1.18% (+89 points) – the “numbers will continue to “fluctuate” before the open!
Markets and indexes were set to open sharply higher Friday, resuming its rebound from the massive sell-off earlier in the week, as we end a wild and disruptive week;
European stocks were high after a delayed open (technical glitch) with the pan-European Stoxx 600 was up more than +1% during mid-morning deals, with all sectors and major bourses in positive territory;
Asia Pacific equities were mixed as investors watched yields on longer duration U.S. Treasuries (they are hurting themselves as China holds US debt) as well as for developments on the U.S.-China trade front;
Data docket: housing starts and building permits are due at 8:30 a.m. ET. Consumer sentiment numbers will be released at 10 a.m. ET. And OPEC is also expected to publish its monthly report.
- The U.S. 30-year Treasury yield dropped to a record low on Thursday, while the yield on the benchmark 10-year notes dipped to a three-year low, as investors sought out safe-haven assets.
The U.S. - China trade war is still a big driver of market movements. President Donald Trump this week decided to delay some of the latest China tariffs to December, a move designed to avoid any negative impact on the holiday shopping season. The president also confirmed the two sides will hold talks next month <CNBC>.
It's time to pick among the oversold ...!
From Thursday’s evening post, “swing low, not so sweet chariot of equities; I felt nothing Thursday but, pain in share pricing with the sector in confusion as to value initiatives, we are dependent on machines and algorithms.”
• The NASDAQ was down -7.32 or -0.09% to 7,766.62;
• Thursday the IBB closed down -0.34% while the XBI closed down -1.19%
• The close was negative with an A/D Line of 15/28 and 0 flat and 2 acquired;
• The range of the 15 upside was +0.03% (BMRN) to +6.63% (BLFS) while the 28 downside ranged from -0.27% BCLI) to -13.54% (AGTC);
• 3 out of the 15 upside had higher than the 3 month average volume;
• 8 out of the 28 downside had higher than the 3 month average volume;
August has 4 POSITIVE and 7 NEGATIVE closes, so far
Companies in my headlights – It’s your decision; I provide an idea and context:
*** I have been dipping my “toe” into … some sector equities ***
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.