October 29, 2019 9:00am
What’s the “distance and displacement” factor `between the oversold and the overbought the evidence is in the closing “numbers”?
Low volume, the lack of sentiment backed by trading, not investing – in such a cycle and earnings’ release period, always lighted your “load”!
Earnings: Verastem (VSTM)
When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started …
My version of the morning’s numbers is written to be informative than just about changes to fundamentals; it’s what happened or will beyond the headline and what could happen to the future
Dow futures are DOWN -0.16% (-42 points), S&P futures are DOWN -0.07% (-2 points) and NASDAQ futures are UP +0.05% (+4 points)
U.S. stock index futures were lower Tuesday morning, amid the busiest week for earnings;
European stocks move lower as traders monitor earnings, trade and a December election option in the UK while the pan-European Stoxx 600 was 0.3% lower shortly after markets opened;
Asia stocks mixed as hope rises on US-China trade and the S&P 500 hits a record high and the MSCI Asia ex-Japan index traded 0.23% higher ;
Data Docket: pending home sales, consumer confidence and housing vacancies will be released at 10:00 a.m. ET.
After a whiff of the highs and Monday’s session ending on a strong note after the S&P 500 hit a record high. Strong earnings and news of further progress in trade talks between the U.S. and China helped boosting prices … it’s probably time for the “machines” to reap a short-term harvest!
Watch your portfolio, park it with a wall at its back!
Monday night’s newsletter heading: “indexes set new records as the sector breaks out of trading ranges, still with low volumes with three (3) positive closes of out of six (6) sessions.”
- The NASDAQ closed UP +82.87 points (+1.01%);
- The IBB closed up +1.34% while the XBI closed up +1.39% after Friday the IBB closed down -0.15% and the XBI closed up +1.20%;
- The close was positive with an A/D line of 27/12, 3 flat, 1 reversed merged (HSGX) and 2 acquired after Friday closed positive with an A/D line of 30/11, 1 flat, 1 reversed merged (HSGX) and 2 acquired;
- The range of the 27 upside was +042% (ONCE) to +12.55% (CRSP) while the 12 downside ranged from -0.40% (MDXG) to -7.92% (KOOL -$0.37);
- 8 out of the 27 upside had higher than the 3 month average volume;
- 3 out of the 12 downside had higher than the 3 month average volume;
- October registered 10 positive, 1 neutral and 11 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 haven’t changed … follow 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.