November 21, 2019 8:53am

Market focus is largely attuned to China trade negotiations and strain over Hong Kong

Thursday’s pre-open indications: SKIM/SELL – ALNY and IONS; BUY – RENE.L and NTLA

Confidence perceived is not always value achieved

 

The sector and overall stock market consistently rises and falls with alternating volatility and spasmodic momentum, contractions which I call “paroxysms”

 

Dow futures are UP +0.06% (+10 points), S&P futures are UP +0.10% (+4 points) and NASDAQ futures are UP +0.09% (+8 points)

 

U.S. stock index futures were slightly higher on Thursday morning after seeing lows in the pre pre-open;

European stocks traded lower as the pan-European Stoxx 600 dropped -0.7% in early trade, with basic resources falling 1.4% to lead losses as all sectors and major bourses entered the red;

Asia Pacific stocks declined following a report that an anticipated “phase one” trade deal between the U.S. and China may not be inked by the end of 2019;

 

Data Docket: the latest weekly jobless claims and Philadelphia Fed manufacturing figures for November will be released at 8:30 a.m. ET. Existing home sales for October will follow slightly later in the session.

 

Henry’omics:

A good day to sit and watch before even thinking of “playing” this market and my composite universe of cell and gene equities!

Both chambers of U.S. Congress passed a bill supporting Hong Kong pro-democracy protesters on Wednesday, placing President Donald Trump in a potential quandary as he tries to strike a trade deal with China.

 

Many are wrapping up this week to get an early start and light lifting or sifting through equities for next holiday laden week.

 

Wednesday night’s newsletter heading: “how do investors define pricing as a tipping point, day after session following weeks versus monthly and quarterly headwinds? Answer: News and trading with low volume.”

  • The NASDAQ closed DOWN -43.93 points (-0.51%)
  • The IBB closed up +0.51% while the XBI closed up +0.28% after Tuesday’s IBB closed up +2.21% while the XBI closed up +2.18% following Monday’s IBB closing down -0.26% while the XBI closed up +0.24%;
  • The range of the 23 upside was +0.15% (ONCE) to +7.50% (ALNY) while the 18 downside ranged from -0.34% (BMRN) to -3.12% (EDIT); 
  • 10 out of the 23 upside had higher than the 3 month average volume;
  • 4 out of the 18 downside had higher than the 3 month average volume;

 

Review the context of Q4’s market – so far:

  • November has registered 7 positive and 7 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:

Thursday’s pre-open indications: SKIM/SELL – ALNY and IONS; BUY – RENE.L and NTLA

Yesterday’s pre-open prognosis: 2 HITs - SELL – CRSP () RENE.L and 2 MISS - ALNY (), GBT ()  

Tuesday’s pre-open prognosis: SELL into strength and news: CLBS, CRSP (a “gut” feel an offering was coming), RENE.L SGMO, STML and ALNY – depending on entry pricing

 

 

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.