August 21, 2019 8:56am
Don’t question your logic … as to your continued investot complacency versus trader's sandbox antics
Liquidity remains a cause for concern
A looking for a few bounces to the upside but, again who and where are the buyers?
When riding the pricing roller-coaster, the only thing you can be sure of is you’ll end up back where you started
Dow futures are UP +0.70% (+181 points), S&P futures are UP +0.75% (+21 points) and NASDAQ futures are UP +0.79% (+60 points)
U.S. stock index futures moved higher on Wednesday as investor sentiment is heady;
European stocks traded higher with the pan-European Stoxx 600 climbing + 08% by mid-morning;
Asia Pacific markets largely declined after U.S. indexes pulled back overnight on recession fears;
Data docket: A meeting of the Federal Open Market Committee (FOMC) is in focus as investors seek hints from the U.S. central bank over the prospect of impending monetary policy easing, with minutes due for release this evening.
Investors have been rushing into safer assets such as gold and treasuries as they fear U.S. economic growth could slow down with the rest of the world.
The question is … whether the cell and gene therapy universe is a safe have (?) – NOT until we see a plethora of clinical data results.
Until then, we are stuck under the “rules’ the algorithmic machines!
August has 7 POSITIVE and 8 NEGATIVE closes, so far … Another session of anywhere but …?
From Tuesday’s evening post, “the sector dike sprung a leak and equities poured-out. Monday, I stated to SELL into strength worried about pricing’s sustainability. What’s wrong with be right so often?”
• The NASDAQ was down -54.25 or -0.68% to 7,948.56;
• The IBB closed % while the XBI also closed %
• The close was negative with an A/D Line of 11/32 and 0 flat and 2 acquired;
• The range of the 11 upside was +0.20% (SAGE) to +11.39% (HSGX) while the 32 downside ranged from -0.07% (ALNY to -10.22% (ADVM);
• 5 out of the 11 upside had higher than the 3 month average volume;
• 4 out of the 32 downside had higher than the 3 month average volume;
Companies in my headlights – It’s your decision; I provide an idea and context:
*** Resistance levels are tough to overcome … as one company “sneezes” other sector participants’ catch a cold and then the whole sector gets infected ***
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.