November 24, 2023 7:56am

Exchanges will close early at 1 p.m. ET, with bond trading ending at 2 p.m. ET. Expect limited trading volume.

Pre-Open Indications: 3 Sell into Strength, 2 Negative and 2 Positive

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I say today what others won't, so you can do what others can't whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.

 

The pre-open Dow futures are UP +0.25% or +89 points), the S&P is UP +0.11% or (+5 points) as the Nasdaq is DOWN -0.08% or -12 points)

Futures are mixed post-thanksgiving Thursday on Friday, November 24, 2023

European markets are mixed Friday as investors remain cautious.

Asia-Pacific markets were mixed as investors assessed key economic data from Japan

 

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 into Thanksgiving … as the market rally rose modestly Wednesday.

Thursday was Thanksgiving and Wednesday: The Dow closed UP +184.74 points or +0.53%, the S&P closed UP +18.43 points or +0.41% while the Nasdaq closed UP +65.88 points or +0.46%.

 

Tuesday, RegMed Investors (RMi) Closing Bell: “gobble, gobble. Upsides are scattered like grain for the fattened turkey equities to be eaten by Pacman electronic trading.” … https://www.regmedinvestors.com/articles/13216

 

Q4: November – 9 positive and 7 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.

Sell into Strength Indication:

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

Beam Therapeutics (BEAM) Wednesday closed up +1.52 after Tuesday’s +$3.39, Friday’s +$2.68, Thursday’s -$0.36, Wednesday’s +$0.60 and last Tuesday’s +$2.61 with a positive +$0.53 or +1.80% pre-open indication.

Intellia Therapeutics (NTLA) Wednesday closed up +1.80 after Tuesday’s +$2.16, Friday’s +$2.10 and last Thursday’s -$0.56  Friday’s +$2.10 and last Thursday’s -$0.56 with a positive +$1.22 or +4.03% pre-open indication.

Verve Therapeutics (VERV) Wednesday closed up +$0.60 before Thursday’s holiday after Tuesday’s -$0.92 and Monday’s +$0.63 with a positive +$0.29 or +2.41% pre-open indication.

 

Negative Indications:

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

Caribou Biosciences (CRBU) closed up +$0.39 with a negative -$0.07 or -1.20% aftermarket indication.

Prime Medicine (PRME) closed up Wednesday +$0.37 before Thursday’s holiday with a negative -$0.42 or -5.83% aftermarket indication.

 

Positive Indication:

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

Alnylam Pharmaceuticals (ALNY) Wednesday closed down -$0.80 after Tuesday’s +$1.53, Friday’s -$5.24, Thursday’s -$2.08, Wednesday’s +$1.06 and last Tuesday’s +$4.98 with a positive +$0.62 or +0.38% aftermarket indication.

Ultragenyx Pharmaceuticals (RARE) Wednesday closed down -$0.63 after Tuesday’s-$0.51, Monday’s -$0.62 and last Friday’s +$1.02 with a positive +$0.09 or +0.24% pre-open indication.

 

The BOTTOM LINE:  After dining well on Thanksgiving, it could/should be time to … dash!

  • While many cell and gene therapy sector upsiders are I believe …extended.
  • I DON’T believe totally in … following i.e., believing in the market and sector's actions – it’s usually a signal to lighten the load of the sector’s upside movers.
  • I have concerns over the resiliency of upside moves that usually end in downward sells as the risk/reward profile doesn’t always compel elevated and “dramatic” i.e., sudden equity pricing.

 

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 as … I am mostly EARLY!

 

Today’s relevancy from Wednesday’s session:

  • The small-cap Russell 2000 gained 0.7%, but is still below the 200-day line after hitting resistance at that key level last week.
  • U.S. crude oil prices fell 0.9% to $77.10 a barrel, but after tumbling 5% at one point. OPEC+ delayed an upcoming meeting by a few days to Nov. 30. That's a sign that a push to cut oil production further is hitting some resistance.
  • The 10-year Treasury yield was essentially flat at 4.415% after falling to 4.365% intraday, a two-month low.
  • Investors should be very cautious, holding to some positions and building cash if possible!

 

So, it's time to think ahead to December. It's usually an important month for the Nasdaq.

  • Don’t FORGET portfolio tax selling and a bit of rebalancing
  • And then comes January and with worries that the U.S. economy will be slowing down, the potential for continued Middle East violence and, of course, the real prospect of bitterly contested elections across all of the United States. <The Street>

 

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.