April 22, 2021 7:31am
As quick as a record close come, is fast as they just might go with low volumes over the last three (3) sector’s sessions
Pre-open indications: let sector equities “ride” with 1 Maintain SELL
My version of the morning’s “numbers” is written to be informative rather than just about changes to share pricing; it’s what happened or will materialize after the opening and what might happen during the session
My comments are important in trying to distinguish the temporary from real pricing progress.
Dow futures are DOWN -0.04% (-12 points), S&P futures are DOWN -0.09% (-4 points) and NASDAQ futures are DOWN -0.10% (-13 points)
U.S stock index futures were flat and subdued pre-open on Thursday, after gaining altitude in the Wednesday session,
European markets were up following a global rebound in markets after days of negative sentiment,
Asia-Pacific markets rose with Japanese shares leading gains as Chinese stocks closed mixed and Australia bumped higher among the region’s major markets.
Data Docket: Initial jobless claims will be released at 8:30 a.m. ET, with economists expecting a print of 603,000, according to estimates. Existing home sales data will be released at 10 a.m. ET.
Indexes and the cell and gene therapy sector finished Wednesday higher, ending a two-day losing streak.
There are concerns about rising COVID-19 infections and the need for further “shots” as immunity wanes according to Dr. Ozlem Tureci, co-founder and CMO of BioNTech who helped develop Pfizer-BioNTech Covid vaccine.
A real issue, vaccinations declined 11%, the most significant downturn in the seven-day average since February.
- Helping Wednesday’s session was the Russell 2000 which ended the day 2.35% higher for its best day since March 1.
Wednesday’s evening’s recap: “the come-backs, a far-cry from yesterday’s sector advance/decline (A/D) line. Cell and gene therapy sector equities are popping from being oversold, I’m still waiting for “them” to have an ignition factor of their own making” … https://www.regmedinvestors.com/articles/11877
- The Nasdaq closed UP +163.95 points (+1.19%);
- The IBB closed up to +1.97% and XBI closed up +3.49%;
- Sector volume was LOW with 4 of the 30-upside having higher than the 3-month average volume with the volume of 2 of 3 downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -1.18 points or -6.32% at 17.50;
- Wednesday’s percentage (%) of the 30-upside were +0.80% (IONS) to +12.98% (AGTC) while the 3-downside ranges from -0.40% (QURE) to -4.91% (RENE.L);
Q2/21 and April: 7 negative and 7 positive closes
- March: 10 positive, 12 negative and 1 neutral closes
- February: 9 positive, 10 negative closes and 1 holiday
- January: 10 positive, 9 negative closes and 1 holiday
Companies in my headlights – It’s your decision; I provide an idea and context:
Biostage (BSTG): Questions continue … Maintaining Sell
Biostage (BSTG) closed flat at $1.00 with 250 shares traded after Tuesday’s -$0.28 to $1.00 with 6,816 shares traded, Monday’s -$0.06 (was down -$0.23 until minutes before the close) to $1.28 with 1,760 shares traded, Friday’s +$0.01 to $1.34 with 510 shares traded and last Thursday’s +$0.16 to $1.33 with 224 shares traded.
Question#1: WHERE is the next level of funding coming from, is it further warrant execution and the only cash generation for further funding?
Question#2: Will $1 million dollars be remaining in the “till” last for another quarter? Could its “runway” be considered extremely short or even non-existent?
MINORITY PUBLIC shareholders are waiting, watching and weighing responses to MAINTAIN their RIGHTS.
The BOTTOM LINE: Volatility boosted by see-sawing sentiment seems to be brought-about by algorithmic or electronic selling.
However, periods of elevated volatility can present opportunities!
I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis” … my advice, trim and skim any new highs if one can!” I also see some lows that could be in the “pick-up” stock game.
I say, re-asses your risk as some questionable earnings are on the horizon.
Welcome to my world of defining the “grey’ in our universe!
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.