October 11, 2019 8:21am
On expectation of a limited trade/tariff deal with no IP indication
Investors need to better understand the underpinnings of support levels to take advantage of the volatility to make profits even with short-term trades
News: BrainStorm Cell Therapeutics (BCLI) has fully enrolled the 200-patient P3 clinical trial evaluating repeat intrathecal administration of NurOwn® Cellular Therapeutic (autologous MSC-NTF cells) in ALS (Amyotrophic Lateral Sclerosis). BCLI’s P3 clinical trial is being conducted at the University of California, Irvine; Cedars-Sinai Medical Center; California Pacific Medical Center; Massachusetts General Hospital; University of Massachusetts Medical School; and the Mayo Clinic.
Insight is about understanding perception and is putting into context what is relevant to expectation fulfillment …
But cannot be imaginative in considering explanations for missing, confusing and often contradictory data while human analysis is able to identify one’s own biases and expectation of what the data might/should/could show!
Dow futures are UP +1% (+265 points), S&P futures are UP +1.01% (+30 points) and NASDAQ futures are UP +1.12% (+87 points)
U.S. stock futures were solidly higher Friday morning after President Trump made positive remarks on the U.S. - China trade talks;
European stocks traded higher as positive signals emerge from trade negotiations between the U.S. and China and a meeting between British and Irish leaders over Brexit while the pan-European Stoxx 600 climbed 1.2% during morning trade;
Asia Pacific stocks advanced on the news, with Hong Kong’s Hang Seng index leaping 2.3% to lead gains;
Data docket: U.S. stock futures were solidly higher Friday morning after President Donald Trump made positive remarks on the U.S.-China trade talks.
Short and sweet ...
Again it is macro events that are simulating “our” universe but, that will dissipate unless … we get some or any clinical data to solidify … share pricing support levels.
Following a surge is a purge!
Thursday night’s newsletter heading: “a positive sector close, 2 out of 8 for October so far; low volume and slim percentage moves have populated the up and downsides. So, why motivate investors to enter a “kill zone” as earnings’ season is about to begin and depreciation sets-in, the truth is hard that does usually play out? It’s all about trading into volume and playing out to strength when it returns.”
- The NASDAQ closed up +47.04 points (+0.60%);
- The IBB closed up +1.25% and the XBI closed up +1.33%;
- The close was positive with an A/D line of 23/17, 2 flats, 1 reversed merged (HSGX) and 2 acquired;
- The range of the 23 upside was +0.22% (CRSP) to +5.957% (BSTG) while the 17 downside ranged from -0.02% (CLLS) to -3.33% (VYGR);
- 6 out of the 23 upside had higher than the 3 month average volume;
- 5 out of the 17 downside had higher than the 3 month average volume;
- October registered 3 positive, 1 neutral and 5 negative close, so far …
- September, there were 1 holiday, 11 negative, 7 positive and 2 non reported sessions;
Companies in my headlights – It’s your decision; I provide an idea and context:
*** I’m STILL following the trading herd but … mindful of upcoming quarterly results and their effect upon share pricing … BUY and get trampled in the coming sessions or SELL into strength or just HOLD and wait to resolve relieve the anxiety until value returns.
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.