RegMed Investors’ (RMi) pre-open: another volatile start to the week

March 2, 2020 8:49am

Pre-open indications 2 BUYs, 5 SELLs and the roll of the dice for many

Q4 and FY19 results: Fate Therapeutics (FATE); uniQure NV (QURE) and Precigen (PGEN)

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 DOWN -0.60% (-153 points), S&P futures are DOWN -0.80% (-24 points) and NASDAQ futures are DOWN -0.47% (-39 points)

Stock futures pointed to a lower open;

European markets declined as the pan-European Stoxx 600 fell -0.7%, having been up more than +2% at the start of the session;

Asia Pacific markets bounce back, even though Chinese manufacturing data released over the weekend and on Monday came in much worse than expected; the MSCI Asia ex-Japan index was +1.06% higher.

Data Docket: The National Bureau of Statistics released figures on Saturday that showed the official Purchasing Manager’s ′ Index (PMI) fell to 35.7 in February ⁠— the lowest level on record, as compared to a reading of 50.0 in January. The 50-point level in PMI readings separates growth from contraction. A private survey on Chinese manufacturing activity released during Asian trading hours on Monday came in at its weakest level ever. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 40.3 for February, far below expectations of a reading of 45.7 by economists. PMI readings above 50 indicate expansion, while those below that level signify a contraction.

Henry’omics:

As countries, our own government and states report new virus infections – it’s hard to escape the fears!

As of Sunday, more than 85,000 cases have been confirmed around the world along with more than 2,900 virus-related deaths. Australia, Thailand and the U.S. reported over the weekend their first coronavirus-related deaths. Rhode Island was the first U.S. state on the East Coast to report a coronavirus case. The number of cases in England rose to 35 after 12 new cases were confirmed on Sunday. Cases in China also reported more than 500 new cases on Saturday. New York confirmed Sunday night the state’s first positive coronavirus case. <CNBC>

It's a daunting task to understand risk, seeing the unforeseen; on the basis of my own “rules”, I set-up my own “warning analysis” which isn’t machine oriented! 

it ain’t over until the heat map turns green for multiple sessions.

Friday night’s title: “my coverage sector closed positive showing share pricing life. Panic is not an investing strategy, it’s the aftermath.”

• the NASDAQ closed UP +0.89 points (+0.01%);
• the IBB closed UP +0.45% and XBI closed UP +1.73%;
• the close was positive with an A/D line of 22/12, 1 flat of 35 covered;
• the range of the 22-upside was +0.79% (CLBS) to +46.07% (VSTM) while the 12-downside ranged from -0.68% (QURE) to -11.25% (MESO); 
• 16 out of the 22-upside had higher than the 3-month average volume;
• 10 out of the 12-downside had higher than the 3-month average volume;

Q1:

March, a new Month

February registered 9 negative, 9 positive closes, 3 vacation days and 1 holiday.

January registered 9 negative, 10 positive closes and 2 holidays.

Q4:

• 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;

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.