November 20, 2020 7:53am
A good day, to finish blowing leaves ignoring the market
Pre-open indications: 3 SELLs
What I provide is an “intelligence daily” to ensure that shareholders are kept apprised based on a 24-hour surveillance of “our” universe, the RegMed/cell and gene therapy sector and its surrounding markets
Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors! My gift to you, I've kept RMi subscription FREE during these COVID-19 and volatile times
Dow futures are DOWN -0.11% (-31 points), S&P futures are DOWN -0.02% (+0.74 points) and NASDAQ futures are UP +0.17% (+20 points)
Stocks futures were slightly lower early Friday;
European stocks traded higher as investors looked past spiraling coronavirus cases,
Asia-Pacific markets traded mixed as investors remained cautious
Markets are churning over a disagreement between the Treasury Department and the Federal Reserve over the continuation of funding for some of the emergency programs implemented during the recession
An Update: RegMed/Cell and Gene Therapy Earnings Scorecard Q3/20 LPS Results https://www.regmedinvestors.com/articles/11628
Thursday night’s recap: RegMed Investors’ (RMi) closing bell: “sector closes positive after a mid-day flop. Equities shake off increase in jobless claims and a COVID-19 50% increase in hospitalizations” … https://www.regmedinvestors.com/articles/11643
- The Nasdaq closed UP +103.11 points (+0.87%);
- The IBB closed up +0.12% and XBI closed up +0.59%
- Sector volume was the usual LOW with 6 of the 19-upside having higher than the 3-month average volume with the increased volume of 4 of 13-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -0.73 points or -3.06% at 23.11
- Thursday’s percentage (%) of the 19-upside were +0.19% (RGNX) to +7.95% (QURE) while the 13-downside ranges from -0.02% (FATE) to -6.03% (AGTC);
Q4’s: November, so far: 11 positive and 3 negative closes
- Q4’s October: 1 neutral, 11 positives with 1 negative closes
- Q3: July through September: 1 neutral, 28 positive and 34 negative closes with 2 holidays
Companies in my headlights – It’s your decision; I provide an idea and context:
Biostage (BSTG) closed flat again *after being up +$0.09 with 6,351 shares traded) after Wednesday’s $1.40 after Tuesday’s +$0.05 to $1.40 with only 371 shares traded, after Monday’s -$0.12 to $1.35 with 200 shares traded and last Friday’s +$0.045 with 1,010 shares traded to $1.47).
- Question#1: WHAT does Beijing dictate?
- Question#2: WHO is the REAL POWER behind BSTG, a chairman of a Beijing, China based cell phone and technology company in China where BSTG’s chairman of the board, Jason Chen works and is also “married” to the head of DST Capital, BSTG’s funder? More to come re transparency?
CRISPR Therapeutics (CRSP) closed up +$2.49 to $109.24 after Wednesday’s -$1.82 to $106.75, Tuesday’s +$1.81 to $108.57, Monday’s +$2.80 to $106.76 and last Friday’s $103.96 with a NEGATIVE -$0.99 or -0.91% aftermarket indication, a “peaky” chart and a 52-week change of +79.74% and a short percentage (%) of float of -10.18%
Sage Therapeutics (SAGE) closed up +$2.03 to $74.93 after Wednesday’s -$1.35 to $72.90, Tuesday’s $74.25, Monday’s $73.47 and last Friday’s $79.52 with a NEGATIVE -$0.24 or -1.23% aftermarket indication
The BOTTOM LINE: I am more than a bit agnostic re today’s market.
My usual morning, 0’dark hundred this a.m. - Just another session of uncertainty … as the algorithms (electronic and quant trading) are punching into share pricing weight, another way of defining (in my words) hungry for profit!
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.