November 12, 2019 8:16am
After yesterday’s Veteran’s Day holiday and low volume and percentage (%) movements to the downside
Earnings today: Biostage (BSTG), Sage therapeutics (SAGE), Intrexon (XON), Editas Medicine (EDIT) and BioLife Solutions (BLFS)
How does the old Ben Graham quote go? "In the short run, the market is a voting machine but in the long run it is a weighing machine"?
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 UP +0.07% (-18 points), S&P futures are UP +0.03% (+1 points) and NASDAQ futures are UP +0.09% (+8 points)
U.S. stock index futures were slightly higher on Tuesday as investors awaited a speech from President Donald on trade and economic policy.
European stocks traded higher after reports suggested U.S. President Trump is expected to delay a decision on whether to impose tariffs on EU autos by six months with the pan-European Stoxx 600 was up by around 0.3% late morning;
Asia Pacific stocks higher amid US-China trade jitters and unrest in Hong Kong
Data Docket: NONE
Market sentiment has been lifted slightly after reports that President Trump would announce a delay to EU auto tariffs this week, potentially averting another damaging dispute with a major U.S. trading partner.
Trump will be speaking at the Economic Club of New York later in the day where he could give clues to the status of trade talks between the U.S. and China. His speech comes amid some concerns regarding plans to sign a trade deal in the coming weeks <CNBC>.
President Donald Trump said Friday that he had not agreed to scrap tariffs on Chinese goods after reports earlier last week said both sides had agreed to cancel existing tariffs in phases. Last month, Trump said China and the U.S. agreed to a phase one trade deal to be signed later in November.
Recent optimism around U.S.-China trade helped stocks reach record highs. The Dow and S&P 500 are both up more than 3% over the past month while the NASDAQ has risen 5.8% in that time.
Instability in Hong Kong is also on investors’ radar. Hong Kong’s main index, the Hang Seng, rose fractionally Tuesday after dropping 2.5% on Monday amid further protests.
Let's get back to business - BUYING stocks that are OVERSOLD!!
Monday night’s newsletter heading: “back to being oversold on low volume… As the overbought barrel sprung a leak following the market closing lower amid lingering U.S.- China trade worries while protests in Hong Kong escalated. In “our’ universe of cell and gene therapy, we are betting on the hope for a cure or a treatment but, we are dependent on the management team to represent our hopes and aspirations.
- The NASDAQ closed DOWN -11.03 points (-0.13%);
- The IBB closed down -0.32% while the XBI closed down -0.27%;
- The close was negative with an A/D line of 14/27, 1 flats, 1 reversed merged (HSGX) and 2 acquired;
- The range of the 14 upside was +0.07% (AXGN) to +7.31% (KOOL) while the 27 downside ranged from -0.17% (ONCE) to -16.94% (CUR);
- 1 out of the 14 upside had higher than the 3 month average volume;
- 3 out of the 27 downside had higher than the 3 month average volume;
- November has registered 4 positive and 3 negative close;
- October registered 10 positive, 1 neutral and 14 negative closes;
Companies in my headlights – It’s your decision; I provide an idea and context:
*** I can’t change my “tune” … be 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 earnings estimates and expectation anxiety.
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.