September 10, 2019 7:41am
Markets are set to open lower
The Strange Case of Dr. Jekyll and Mr. Hyde might make for a great read, but it’s far less fun when the sector act like it’s their blueprint.
It's a daunting task to understand risk, seeing the unforeseen; when you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.
Dow futures are UP +0.14% (+38 points), S&P futures are DOWN -0.01% (-0.01 points) and NASDAQ futures are DOWN -0.26% (-20 points)
Futures point to a lower open
European markets are also lower as Brexit standoff is enhanced by ECB meeting
Asia pacific markets are mixed as Chinese producer prices drop
Data docket: new Job Openings and Labor Turnover Survey (JOLTS), due at 10:00 a.m. ET.
Pressure of the market weighs on the cell and therapy sector!
Investors are being left in the dust of electronic trading.
Bottom line, signs of faltering sentiment and price movement are based on a perception of a spiraling Q3 forecast of earnings, LPS (loss-per-share) numbers and operating cash utilization.
From Monday’s evening post, “no real movement from the open. Where is the news of clinical data updates (?); the sector needs to be about “forward motion” and I am not hearing it. Too much quiet on the cell and gene therapy front lines.”
• The NASDAQ was down -15.64 or -0.19% to 8,087.44;
• The IBB closed down -0.41% while the XBI also closed down -0.15%;
• The close was positive with an A/D Line of 25/18 and 0 flat and 2 acquired;
• The range of the 25 upside was +0.22% (BLUE) to +16.81% (KOOL) while the 18 downside ranged from -0.25% (RENE.L) to -5.84% (AXGN);
• 10 out of the 25 upside had higher than the 3 month average volume;
• 6 out of the 18 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 3 positive, 1 holiday and 2 negative close
Companies in my headlights – It’s your decision; I provide an idea and context:
*** Let the machines and algorithms do their worst – there is always a purge after a surge ***
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.