November 13, 2023 7:50am

What goes up floats down to jump-up the next

Pre-Open Indications: 2 Positive and 3 Negative Indications

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Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session. My interpretation of the morning’s numbers is written to be informative; it’s built on what could happen or materialize

 

The pre-open Dow futures are DOWN -0.09% or (-31 points), the S&P is DOWN -0.17% or (-8 points) as the Nasdaq is DOWN -0.21% or (-32 points)

U.S. stock futures dived on Monday after Moody’s Investors Service lowered its U.S. credit rating outlook to negative from stable,

European markets made a positive start to the new trading week,

Asia Pacific markets were mostly mixed

 

Henry’omics:

We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …

Indexes rallied Friday, the Dow closed UP +391.16 points or +1.15%, the S&P closed UP +67.89 points or +1.56% while the Nasdaq closed UP +276.66 points or +2.05%.

Economic Data Docket: The new Retail Monitor, debuting Monday, is a joint product of CNBC and the National Retail Federation based on data from Affinity Solutions, a leading consumer purchase insights company. The data is sourced from more than 9 billion annual credit and debit card transactions collected and anonymized by Affinity and accounting for more than $500 billion in sales. The cards are issued by more than 1,400 financial institutions.

  • October’s monthly federal budget, as well as the Federal Reserve Bank of New York’s October consumer expectations survey. Fed Governor Lisa Cook is also scheduled to give remarks Monday morning.

 

Friday, RegMed Investors (RMi) Closing Bell: “the cell and gene therapy sector suffers from… Sisyphus’itis to have to continue rolling a share pricing stone uphill, only to have it always roll down again” … https://www.regmedinvestors.com/articles/13203

 

Ebb and flow:

Q4: November – 4 positive and 4 negative closes

·         October – 1 sick day, 9 positive and 12 negative closes

 

Companies in my headlights – It’s your decision; I provide ideas and context: looking for lost SHEAP …

I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

Positive Indication:

Friday’s closing price, some Thursday, Wednesday, Tuesday, Monday's closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Alnylam Pharmaceuticals (ALNY) closed down -$2.63 after Thursday’s -$4.88, Wednesday’s -$0.80 and last Tuesday’s +$3.05 with a positive +$2.63 or +1.62% aftermarket indication.

Sage Therapeutics (SAGE) closed down -$0.14 after Thursday’s -$1.26, Wednesday’s -$1.13, Tuesday’s -$0.98 and Monday’s -$0.68) with a positive +$0.10 or +0.58% aftermarket indication.

 

Negative Indication:

Friday’s closing price, some Thursday, Wednesday, Tuesday, Monday's closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

MiMedx (MDXG) closed up +$0.24 with a negative -$0.10 or -1.68% aftermarket indication

Verve Therapeutics (VERV) closed down -$0.34 with a negative -$5.84 or -37.58% pre-open indication.

CRISPR Therapeutics (CRSP) closed up +$1.90 after Thursday’s -$3.46, Wednesday’s -$5.69, Tuesday’s +$7.00 and last Monday’s +$0.59 with a negative -$0.75 or -1.41% pre-open indication.

 

The BOTTOM LINE: the cell and gene therapy sector is not looking as healthy!

If the market rebounds this week, don't get too excited; indexes and the cell and gene therapy sector need strong gains before signaling an end to the recent downturn and follow-through sessions

  • I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

Today’s relevancy from Friday’s session: <IBD>

  • Late Friday, Moody's Investors Service cut its U.S. outlook to negative from stable, citing high budget deficits and political polarization. Moody's reaffirmed, for now, its AAA rating on U.S. sovereign debt.             
  • The 45-day government funding measure expires Nov. 17, with the risk of a government shutdown still high.
  • The small-cap Russell 2000 tumbled 3.15% for the week despite Friday's 1.1%% bounce.
  • The 10-year Treasury yield rose 7 basis points to 4.63%, amid some big daily swings.

Treasury yields spiked on a poor 30-year Treasury bond auction. Fed chief Jerome Powell followed up, saying the central bank is "not confident" that it's done enough to rein in inflation. <IBD>

  • Investors should be very cautious, holding to some positions and building cash if possible!
  • Market breadth was once again weaker
  • Market breadth was once again weaker

 

I hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I am more frequently right than consequentially wrong but, I am mostly EARLY!

 

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. All investments are subject to risks. Investors should consider investment objectives.

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.  Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Henry McCusker, the editor and publisher of RegMed Investors could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.