September 3, 2019 7:53am
After August ended with 12 negative and 10 positive closes and July had 9 positive, 1 holiday and 13 negative closes
As Q3 continues to its end and wraps, let’s hope for better pricing to close this quarter!
News: Roche Holding (RHHBY) and Spark Therapeutics (ONCE) announced another extension of its $4.3 billion takeover offer for ONCE as regulatory reviews continue. The offer for ONCE’s shares now runs to Oct. 1. Around 24.1% of Spark Therapeutics’ outstanding shares had been tendered as of the end of August.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.
RMi provides the realities of volatility and share pricing in the sector. That’s why the term “quantamental,” a blend of the two styles, may soon become common parlance among investors and traders.
Dow futures are DOWN -0.79% (-208 points), S&P futures are DOWN -0.65% (-19 points) and NASDAQ futures are DOWN -0.72% (-56 points)
Futures on the Dow, S&P and NASDAQ were lower;
- The U.S. imposed 15% tariffs on a variety of Chinese goods on Sunday, while China imposed new charges on U.S. products from September 1. Aside from trade, investors and traders continued to monitor the fallout of Britain’s constitutional crisis over Brexit.
European stocks lower as UK prepares for Brexit showdown, the pan-European Stoxx 600 slipped 0.4% in early deals;
Asia Pacific markets are mixed while the Reserve Bank of Australia kept cash rate unchanged. The MSCI Asia ex-Japan index fell 0.71%.
- Stocks in Taiwan were closed for trading on Tuesday due to a holiday.
Data docket: manufacturing Purchasing Managers’ Index (PMI) figures for August will be released at around 9:45 a.m. ET. The Institute for Supply Management’s (ISM) manufacturing index for August and construction spending data for July will be released slightly later in the session.
There is a new 15% tariff on a variety of Chinese goods placed on Sunday, while China imposed new charges on U.S. products from September 1.
Upsmanship at its best, who will be the first and compromise and let the other save “face”?
Be lazy, watch the direction of the market’s moves and let traders, the machines and algorithms do your portfolio work for you!
From Friday’s evening post, “the week and August – they’re over. The session and the week in review; low volume and small percentage moves seem to be standard on the sector’s roller coaster. Hopefully, September will bring news and pricing appreciation.”
Monday, September 2 was a holiday, Labor day;
• The NASDAQ was down -10.51 or -0.13% to 7,962.88;
• The IBB closed down -0.67% while the XBI also closed down -0.91%
• The close was negative with an A/D Line of 11/30 and 1 flat and 2 acquired;
• The range of the 11 upside was +0.47% (SAGE) to +12.15% (RENE.L) while the 30 downside ranged from -0.15% (BLUE) to -7.08% (BTX);
• 1 out of the 11 upside had higher than the 3 month average volume;
• 2 out of the 30 downside had higher than the 3 month average volume;
Q3/19 to date:
- In July, there were 9 positive, 1 holiday and 13 negative closes;
- In August there had been 12 negative and 10 positive closes
- September started with 1 holiday
Companies in my headlights – It’s your decision; I provide an idea and context:
*** Watch and wait for this market to move, direction is fickle; yet, the upside will be more will be more unified in its movement ***
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.