May 27, 2020 8:13am
Or its share pricing timeframes
Pre-open indications: 4 BUYs and 2 SELLs
What I provide is an “intelligence daily” to “never leave an investor uninformed”! Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors who make money and for those who read and don’t weep! Check the BOTTOM LINE <read more>
Dow future are UP +1.35% (+336 points), S&P futures are UP +1.04% (+31 points) and NASDAQ futures are UP +0.38% (+35 points)
U.S. stock futures point to a slow high on optimism about the reopening of the economy;
European stocks were cautiously higher with U.S.-China tensions capping market optimism over economic with the pan-European Stoxx 600 edged 0.3% higher in early trade;
Asia Pacific stocks were mixed as investors weighed the potential impact of rising tensions between Washington and Beijing against economies reopening, as coronavirus containment measures are eased.
Data docket: French consumer confidence for May to be release
Volume versus volatility sketches a contradictory picture of the short-term …
Stocks started the holiday-shortened week off strong. On Tuesday, the Dow climbed +2.2%. The S&P 500 climbed 1.2%, briefly breaching the 3,000 level, a signal of a bullish long-term trend. The Nasdaq rose +0.2%.
The S&P 500 climbed 1.2%, briefly breaching the 3,000 level for the first time since March 5. Many Wall Street analysts believe breaking above this level, also its 200-day moving average, is a signal of a bullish long-term trend. The Nasdaq Composite rose 0.2%.
I still fear all-time highs!
Tuesday post’s title: the see-saw pivots to move the sector’s weighting down
- The NASDAQ closed UP +15.63 points (+0.17%);
- Tuesday opened positive at 27/8, strayed neutral at the mid-day at 17/17 and 1 flat and closed negative at 10/25;
- Volume was increased with 5 out of the 10-upside having higher than the 3-month average volume and 12 out of the 25-downside having higher than the 3-month average volume;
- Tuesday’s percentage (%) of the 10-upside were +0.19% (BLFS) to +17.34% (AXGN) while the 25-downside ranged from -0.30% (RARE) to -15.87% (CLBS)
Which makes me question Wednesday’s session’s movement!
• May registered 7 negative, 10 positive closes – so far
• April registered 10 negative, 11 positive closes and 1 holiday.
• March registered 11 negative, 10 positive closes and 1 neutral close.
• February registered 9 negative, 9 positive closes, 3 vacation days and 1 holiday.
• January registered 9 negative, 10 positive closes and 2 holidays.
Companies in my headlights – It’s your decision; I provide an idea and context
Maintaining Selling into strength:
- Athersys (ATHX) closed down again after Friday’s -$0.06, Thursday’s -$0.06, Wednesday’s +$0.20, Tuesday’s -$0.085 and Monday’s +$0.035. SELL into trials which will take time plus a lingering negative includes taking PPP funds from the government while simultaneously raising $57.6 M. For the past four (4) years, what has ATHX done but, DRIFT up and down; now it’s in the beginning of a trial that will last, last and last;
- AxoGen (AXGN) closed up +$1.37 and has a negative -$0.02 or -0.22% aftermarket indication;
- Applied Genetic Technologies (AGTC) closed up +$0.42 after Friday’s +$0.12 to $4.60, Thursday’s +$0.13, Wednesday’s +$0.15 and last Tuesday’s +$0.02 news. AGTC’s spikes usually get taken down by trading but, it has been oversold too long with a positive +$0.05 or +1% aftermarket indication;
- Mesoblast (MESO) closed up +$0.83 and has a positive +$0.21 or +1.62% aftermarket indication. Despite recent advances in newly-approved drugs, only limited treatment options are available for patients with advanced heart failure. Mesoblast’s Phase 3 product candidate, REVASCOR®, may potentially help these patients. Learn more in hyperlink: https://buff.ly/31mjcNc . Also, MESO reports Q1 on Thursday;
BUY after the downfall:
- bluebird bio (BLUE) closed down -$2.87 and has a positive +0.43 or +0.67% aftermarket indication. BLUE seems to bounce after a hammering in many cases;
- Sangamo Therapeutics (SGMO) closed down -$0.58 and has a positive +$0.25 or +2.29% aftermarket indication;
The BOTTOM LINE: Sometimes it’s better to sit out the session. Do you feel safe enough to travel and congregate in larger groups; I’m still masking everywhere I go – if I go anywhere.
I’m into wait and see with serious concerns re an escalation of US - Chinese tensions that could slow today’s gains.
As 50-states push forward with reopening plans, we’re still in the very middle of the outbreak versus the tail end.
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.