September 27, 2019 7:59am
Futures point to a higher open and I believe volatility
September comes slowly to an end on Monday along with Q3/19
Quarterly results: Applied Genetic Technologies (AGTC) reported a Q4 loss of -$0.58 per share representing an earnings surprise of -13.73% while also lagging revenue estimates. There are two easy answers to their depreciation, positive clinical data which I hope is due and CEO Washer needs to go!
The month and Q3 are coming to an end; expectation is low on forecasts and estimates in my mind’s eye
Timely insights have line extensions within or to a volatile pricing universe. Thus my line in writing is separating actionable numbers or intelligence and news into a short-term investment thesis to tackle the “unknown unknowns”
Dow futures are UP +0.23% (+63 points), S&P futures are UP +0.29% (+9 points) and NASDAQ futures are also UP +0.23% (+18 points)
Dow futures indicated a positive open; futures on the S&P and NASDAQ were both also higher and are fluctuating lower;
European shares traded higher as cautious optimism returns to markets over the state of U.S.-China trade relations, though gains may remain capped by escalating political uncertainty in the US as the pan-European Stoxx 600 rose by +0.5%;
Asia Pacific stocks were mixed as investors watched for developments on the U.S. - China trade front;
Data docket: durable goods, personal income, and consumer numbers out at 8:30 a.m. ET.
Investor attention is largely attuned and followed to the battle between U.S. political parties, following the release of a whistleblower fake or not and complex complaint against President Trump.
On a positive note, the U.S.-China trade front, the two delegations are set to resume talks on October 10 in Washington D.C., CNBC reported citing three sources. The two countries have entered a tit-for-tat tariff war since 2018 and their trade talks aim to resolve their differences over trade.
Friday: It just might be time for the sector to roll-up to satisfy the oversold condition; however, the sector has a “tell” – nobodies interested in being the first to bet other than a hedge!
Thursday: The sector’s Advance/Decline (A/D) line was 9/32, 2 flats and 2 acquired with the IBB was down -2.05% and the XBI was also down -2.16%;
Wednesday: The sector’s Advance/Decline (A/D) line was 16/26, 1 flat and 2 acquired with the IBB was down -0.29% and the XBI was also down -0.50%;
Tuesday: not reported, “Conferencing”
Monday: not reported, “Conferencing”
Companies in my headlights – It’s your decision; I provide an idea and context:
*** Hold the line, “let the machines and algorithms do their best for entering this sector.” …
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.