March 3, 2020 9:01am
Last night, I stated, “I’m WAITING for the NEXT BOTTOM, we are NOT DONE yet … watch out for the upside aftermaths! – more SELLING. I am also ... RE-SHORTING a number of companies; some fundamentals and UPSIDES are READY to be DISRUPTED!”
Pre-open indication: 2 BUY and 5 SELLs
Q4 and FY19 results: Voyager therapeutics (VYGR)
It’s a new month, March - make sure the companies whose stocks one holds or plan to buy can demonstrate the ability sustain share pricing
Dow future are UP +0.18% (+47 points), S&P futures are UP +0.06% (+2 points) and NASDAQ futures are UP +0.56% (+49 points)
U.S. stock index futures have been declining indicating a lower open (?) after (a statement by) the G-7 failed to assuage investor concerns over how the biggest global economies will curb the impact of the coronavirus;
European stocks surged as investors continue to HOPE that global central banks will introduce monetary policy measures to mitigate the economic impact of the coronavirus as the pan-European Stoxx 600 jumped 2.7%;
Asia Pacific markets inclined though gains were capped as the Reserve Bank of Australia announced Tuesday a cut in the cash rate by 25 basis points to 0.5%, a new record low while Bank Negara Malaysia cut its overnight policy rate by 25 basis points to 2.5% and Japan ‘s indexes declined with the MSCI Asia ex-Japan index was 0.84% higher.
Data Docket: The G-7 said in a statement they will use policy tools to curb an economic slowdown. However, the statement contained no specific actions.
There became a limit to this upside as to me – I felt and smelled signs of profiteering.
On Monday, rally was just a “technical snapback as U.S. stocks snap a losing streak that had gone on for over a week; but, today is Tuesday
I stand by my contrarian view as portrayed in the title and last night’s session … https://www.regmedinvestors.com/articles/11246
Monday night’s title: “markets are jumping and bringing the sector along for the ride.”
- the NASDAQ closed UP +384.80 points (+4.49%)
- the IBB closed up +5.54% and XBI closed up +3.52%
- the close was positive with an A/D line of 24/11, 0 flat of 35 covered;
- the range of the 24-upside was +1.6% (ATHX) to +13.53% (SAGE) while the 11-downside ranged from -0.327% (ADRO) to -8.30% (RENE.L);
- 12 out of the 24-upside had higher than the 3-month average volume;
- 6 out of the 11-downside had higher than the 3-month average volume;
March registered 1 positive close
February registered 9 negative, 9 positive closes, 3 vacation days and 1 holiday.
January registered 9 negative, 10 positive closes and 2 holidays.
- December register 11 negative and 10 positive closes
- November registered 12 positive and 8 negative close and 1 holiday;
- October registered 10 positive, 1 neutral and 14 negative closes;
Companies in my headlights – It’s your decision; I provide an idea and context:
Downside NEWS: Pluristem Therapeutics (PSTI) received a response to the proposal it submitted to the U.S. Biomedical Advanced Research and Development Authority (BARDA) for funding, BARDA has chosen not to move forward with the funding of the current proposal. Pre-open indication: -$0.35 or -8.84%
Maintaining SELL: FATE reported a Q4 loss, but, topped revenue estimates, SAGE, VSTM, QURE also reported a Q4 Loss, but topped revenue estimates
BUY: SGMO with a Biogen (BIIB) collaboration
Upside news: Alnylam Pharmaceuticals (ALNY) the European Commission (EC) has granted marketing authorization for GIVLAARI® (givosiran), an injection for subcutaneous use targeting aminolevulinic acid synthase 1 (ALAS1) for the treatment of acute hepatic porphyria (AHP) in adults and adolescents aged 12 years and older. AHP is an ultra-rare condition in which patients can experience debilitating attacks of severe abdominal pain, vomiting and seizures, which can be life-threatening due to the possibility of paralysis and respiratory arrest during attacks. Many patients also experience chronic symptoms, including pain, which continue to be present between attacks. ALNY had closed down -$2.88
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.