January 3, 2020 8:36am
More negativity deflects sentiment toward our universe of cell and gene therapy
Pre-open indications: five (5) targets <I am usually right>
Investors need to check the daily “pulse” for impacts upon portfolio return from RMi - SUBSCRIBE
Dow futures are DOWN -0.75% (-216 points), S&P futures are DOWN -0.86% (-28 points) and NASDAQ futures are DOWN -1% (-90 points)
U.S. stock index futures were sharply lower Friday after the U.S. confirmed an airstrike that killed a top Iranian commander, sending oil prices surging and hiking geopolitical concerns;
European stocks traded lower with the pan-European Stoxx 600 slipping -0.7% by mid-morning;
Asia Pacific markets were subdued amid Middle East tensions while markets in Japan were closed on Friday for a holiday;
These downside moves come after U.S. equities rose to all-time highs on Thursday on the back of a strong performance in the tech sector. However, the optimism entering the New Year seems to be fading amid geopolitical tensions.
The Cboe Volatility Index (VIX), widely considered to be the best fear gauge on Wall Street, traded about 3 points higher, or 23.7%, at 15.43.
Watch your "corners" traveling in ths market and sector ...!
Thursday night’s post’s title: “starting the year with another downside rotation from Tuesday’s close.”
- The NASDAQ closed UP +119.58 points (+1.33%);
- The IBB closed down -0.62% while and XBI closed down -0.51%;
- The range of the 15 upside was +0.34% (RENE.L) to +11.05% (BLCM) while the 19 downside ranged from -0.02% (BOLD) to -8.19% (AGTC);
- 4 out of the 15 upside had higher than the 3 month average volume;
- 7 out of the 19 downside had higher than the 3 month average volume;
January registered 1 negative close and 1 holiday
- December register 11 negative and 10 positive closes
- 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: NOT a day to step-up … SELL – RENE.L on downdraft; XON on strength of rebranding, realigned assets and cash position and SKIM … CLLS on 4% updraft with low volume and MESO share pricing has moved higher by 15.5% in the past month, while it is also above its 20 Day SMA – it’s a target while Sage Therapeutics (SAGE) closed up +$0.97 and is down -$1.16 or -$1.59% to $72.00 in the pre-market
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.