June 8, 2021 7:57am

The timing of new record highs usually tells me to say BYE, even if I am early

Annual Oncology (ASCO) Meetings and presentations this week

Pre-open indications: 1 BUY: AGTC; SELL into Strength: ATHX, EDIT, IONS, CRSP; 2 Maintain SELL: FIXX, GBT; Maintain SELL: BSTG

My version of the morning’s “indications” is about what you need to know; it’s what could happen or materialize after the opening and what might happen during the session

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Dow futures are DOWN -0.03% (-11 points), S&P futures are UP +0.15% (+6 point) and NASDAQ futures are UP +0.44% (+51 points)

 

Futures in the pre-market are mixed, maybe related to the outage of internet sites, including the New York Times, Barons, Financial Times, Bloomberg and Reddit with some reports pointing to a glitch at U.S.-based cloud computing services provider Fastly,

European stocks traded higher,

Asia-Pacific stocks were mostly lower

 

Henry’omics:

The stock market rally had a mixed session Monday as many cell and gene therapy sector leaders spurted to the upside … with volume.

The Nasdaq edged 0.5% higher on Monday, boosted by shares of Biogen (BIIB) which surged 38% after the FDA approved its groundbreaking Alzheimer’s drug.

 

RegMed/Cell and Gene Therapy Earnings Scorecard Q1/21 LPS Results … thirty (32 – MESO added) to date …  https://www.regmedinvestors.com/articles/11628

 

Monday’s evening’s recap: “not crying about the sector high but, worried as the upside is blanket algorithmic volume play” … https://www.regmedinvestors.com/articles/11944

  • The Nasdaq closed UP +67.23 points (+0.49%0;
  • The IBB closed up +3.44% and XBI closed up +4.62%
  • Sector volume was DEFINETELY INCREASED with 16 of the 30-upside having higher than the 3-month average volume with the volume of 3 of 4-downside having higher than the 3-month average volume;
  • The CBOE Volatility Index (VVIX: INDEX) was flat at 0.00 points or 0.00% at 16.42;
  • Monday’s percentage (%) of the 30-upside were +1.79% (AXGN) to +8.84% (BCLI) while the 4-downside ranges from -1.18% (RENE.L) to -13.08% (BSTG);

Q2/21:

June: 3 positive and 2 negative close

May:  8 positive, 12 negative closes and 1 holiday

April: 11 negative and 10 positive closes

Q1/21:

  • 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:

The Biostage (BSTG) - Maintaining Sell – It’s about saying WHAT NEEDS to be written …

Biostage (BSTG) closed down -$0.17 to $1.13 with 2,320 shares traded after Friday’s +$0.19 to $1.30 with 800 shares traded, Thursday’s flat with 3,528 shares traded, Wednesday’s -0.11 to $1.11 with 5,673 shares traded and last Tuesday’s +$0.10 to $1.22 with 2216 shares traded post Monday’s holiday.

Question#`1: Notice the volume numbers per session? WHY the need to “pump, promote and inflate” the share price; does the volume reflects the manipulation to execute the last remaining warrants?

MINORITY PUBLIC shareholders are waiting, watching and weighing responses to MAINTAIN their RIGHTS.

 

The morning’s indications: SELL into Strength: for profit …

Athersys (ATHX) closed up +$0.08 to $1.74 with a negative -$0.02 or -1.15% aftermarket indication.

Editas Medicine (EDIT) closed up +$1.84 to $35.51 after Friday’s +$0.51 to $33.67 and has a positive +$0.80 or +2.25% pre-market indication.

Ionis Pharmaceuticals (IONS) closed up +$1.33 to $35.87 and has a positive +$0.39 or +1.09% aftermarket indication.

CRISPR Therapeutics (CRSP) closed up +$5.91 to $119.20 after Friday’s +$3.16 to $113.29 and has a positive +$1.25 or +1.05% pre-market indication.

 

Maintaining SELL:

Homology Medicine (FIXX) closed up +$0.25 to $6.78 after Friday’s -$0.02 to $6.53 and has a negative -$0.01 or -0.15% aftermarket indication.

Global Blood therapeutics (GBT) closed up +$0.84 to $39.85 after Friday’s +$0.74 to $39.00 and has a negative -$0.74 or -1.86% aftermarket indication.

 

BUY:

Applied Genetic Technologies (AGTC) closed up +$0.12 to $4.16 with a positive +$0.08 or +1.92% pre-market indication.

 

The BOTTOM LINE: Wake-up volatility is NOT going away!

I continue to MAINTAIN, this is a confused sector as sentiment fades, momentum is usurped, fundamentals are being ignored – or is it a test of our staying power in certain equities.

It’s going be a long hot summer – expects the fizzle on stock pricing until it isn’t!

Although, “I would consider new highs … to be SOLD into …complacency is in store as many investors actually get out to vacations (one indicator).”

A true contrarian thought …

My focus has always been “warning analysis” … my advice, trim and skim any new highs if one can!” I also see a number of lows that could be in the “pick-up” stock game.

My motto, never leave an investor uninformed about what I know!

 

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.