November 20, 2023 7:40am

Happy Turkey Day as many investors, money managers, and traders will also go early in week; so be safe in travel especially with portfolio management!

Pre-Open Indications: 1 Sell into Strength 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.

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 UP +0.01% or (+4 points), the S&P is UP +0.07% or (+3 points) as the Nasdaq is UP +0.14% or +22 points)

U.S. equity futures were minimally up and positive on Monday,

European markets saw a cautious start and were mixed as session proceeded,

Asia-Pacific markets were mostly higher.

 

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 closed up as the Dow closed UP +1.81 points or +0.01%, the S&P closed UP +5.78 points or +0.13% while the Nasdaq closed UP +11.81 points or +0.08%.

U.S. markets will be closed Thursday due to the Thanksgiving holiday. Friday will also be a shortened trading day. Trading around the Thanksgiving holiday has been choppy in recent years, but November is still the best-performing month for the S&P 500, according to the Stock Traders’ Almanac. <CNBC>

 

Friday, RegMed Investors (RMi) Closing Bell: “Crispr Therapeutics (CRSP) and Vertex (VRTX) set the stage for gene editing stocks to appreciate across the board in a first-ever approval. As cell and gene therapy sector flips to upside.” … https://www.regmedinvestors.com/articles/13213

 

Q4: November – 6 positive and 6 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:

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

CRISPR Therapeutics (CRSP) closed up +$8.67 after Thursday’s +$2.99, Wednesday’s +$0.93, Tuesday’s +$3.29 and Monday’s -$1.15 with a positive +$1.36 or +2.93% pre-open indication.

 

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 again -$5.24 after Thursday’s -$2.08, Wednesday’s +$1.06, Tuesday’s +$4.98 and last Monday’s +$3.12 with a positive +$4.27 or +2.61% pre-open indication.

Beam Therapeutics (BEAM) closed up +$2.68 after Thursday’s -$0.36, Wednesday’s +$0.60, Tuesday’s +$2.61 and last Monday’s -$0.22 with a positive +$0.03 or +0.11% pre-open indication.

 

The BOTTOM LINE: The cell and gene therapy sector had a strong week, buoyed by a gene editing approval in the U.K., tamer inflation and falling Treasury yields.

  • The Nasdaq trades right around its Sept. 1 short-term peaks, with July's 52-week highs the next hurdle.  The Nasdaq is on four-day win streaks.
  • In November, the Nasdaq has leapt 9.9%; its best month since rising 10.7% in January.
  • How long will it last, gotta pay for the turkey and its trapping’s?
  • From Friday’s closing post, CRISPR Therapeutics (CRSP) approval with Vertex (VRTX) set the stage for gene editing stocks to appreciate across the board.  This authorization of Casgevy in Great Britain is the first regulatory authorization of a CRISPR-based therapy in the world." <me>
  • Market rallies in power trends often go on to big gains, but sometimes “power trends” quickly fizzle out.

Power trends are a time to be more aggressive, including being more open to aggressive growth names and being willing to hold stocks for longer. Market rallies in power trends often go on to big gains, but sometimes power trends quickly fizzle out.

  • A trend is the direction that prices are moving in, based on where they have been in the past. Trends are made up of peaks and troughs. It is the direction of those peaks and troughs that constitute a market's trend. Whether those peaks and troughs are moving up, down, or sideways indicates the direction of the trend.
  • So, I DON’T believe totally in … following the market's actions – it’s usually a signal to lighten the load of upside movers.

 

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 Friday’s session:

  • The small-cap Russell 2000 surged 5.4%, despite being rejected from the 200-day line. The Invesco S&P 500 Equal Weight ETF (RSP) rallied 3.4% to retake its 200-day. <IBD>
  • 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.

  • But, 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.