December 31, 2019 8:46am
After all the loses generated to date, the cell and gene therapy sector ended 2019 impacted by lower volume and sliding share pricing due to the holiday season
Pre-pen indications: let ’em ride, it’s a rodeo of “overs” share pricing – oversold and overbought
Welcome to my world of defining the “grey’ in “our” (share priced) universe and I still get it right!
Investors need to be open to new motivations for portfolio return from RMi
Dow futures are DOWN -0.07% (-4 points), S&P futures are DOWN -0.02% (-1 points) and NASDAQ futures are DOWN -0.09% (-8 points)
U.S. stock index futures edged lower on the last trading day of 2019;
European markets were flat in quiet session as financial markets in Germany, Italy and Switzerland are closed;
Asia Pacific markets were quiet as Australia and Hong Kong closed early, Japan and South Korea were already shut down while Chinese stocks higher in last trading day of the year
Data Docket: consumer confidence numbers are expected at 10 a.m. ET.
U.S. equities have dropped from their highs while the cell and gene therapy sector rides the downside ”rails” as investors opted for less risk.
Trading has also been impacted by a lower activity due to the holiday season while the S&P is on track to see its best yearly performance since 2013.
Let 2019 go, slipping away without acclaim but, anticipating contrarian and capricious markets in 2020, at least for the month of January. Some positive clinical news will set us free to roam the upper ranges of share pricing!
Monday night’s post’s title: “a ringside seat to share price destruction.”
- The NASDAQ closed down -60.62 points (-0.67%);
- The IBB closed down -1.38% while and XBI closed down -1.49%;
- The range of the 9 upside was +0.09% (ADVM) to +10.31% (CLBS) while the 28 downside ranged from -0.03% (GBT) to -9.02% (BLCM);
- 2 out of the 9 upside had higher than the 3 month average volume;
- 10 out of the 28 downside had higher than the 3 month average volume;
Review the content of Q4’s market:
- December register 11 negative and 9 positive closes … so far
- November registered 1 holiday, 12 positive and 8 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:
Pre-open indications: let ’em ride; it’s a rodeo of bucking share 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.