February 1, 2024 8:40am

As lean aftermarket shows little yet, some effort

Pre-open indications: 1 Sell into Strength and 6 Positive Indications

Who is defining the metrics for investors and keeping you notified of the sector and market fluctuations?  What RMi provides is a trusted source of share pricing intelligence. Join me … in the NO spin zone!

Never leave an investor uninformed!

Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

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

 

Thursday: The pre-open Dow futures are DOWN -0.02% or (-7 points), the S&P futures are UP +0.28% or (+13 points) as the Nasdaq futures are UP +0.38% or (+65 points)

 

Henry’omics:

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

Wednesday’s session was markedly terrible for the major averages. It was the worst performance for the Dow since December.

Wednesday, indexes closed mixed as the Dow fell 317.01 points, or 0.82% to close at 38,150.30. The S&P 500 fell 1.61% to 4,845.65 while The Nasdaq lost 2.23% to finish the session at 15,164.01.

For the S&P 500, it was the worst day since September, and since October for the Nasdaq.

For the year to date with January ending on a positive note as the S&P 500 added 1.6%, while the Dow advanced 1.2% and the Nasdaq gained 1%.

Economic Data Docket: weekly jobless claims, the ISM manufacturing index and construction spending reports

 

Last night’s RegMed Investors (RMi) Closing Bell: “When you are a cell and gene therapy believer, the benefit of the doubt is immeasurable – the sector is oversold.” … https://www.regmedinvestors.com/articles/13308   

 

Q1/24: February – 1st session

  • January: 2 holidays, 11 negative and 8 positive closes

 

Companies in my headlights – It’s your decision; I provide ideas and context:

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, Tuesday, Monday, Friday and last Thursday closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Fate Therapeutics (FATE) closed up +$0.58 with a positive +$0.21 or +3.41% indication

 

Positive Indications:

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

Blueprint Medicine (BLMC) closed down -$3.99 after Tuesday’s-$1.53 after Monday’s +$3.49 with a positive +$0.59 or +0.74% indication.

CRISPR Therapeutics (CRSP) closed down -$1.53 after Tuesday’s -$1.30 and Monday’s +$4.77 with a positive +$0.85 or +1.35% indication.

Beam Therapeutics (BEAM) closed down -$1.44 after Tuesday’s -$2.45 and Monday’s +$4.00 with a +$0.81 or +3.31% indication.

Solid Biosciences (SLDB) closed down -$1.19 after Tuesday’s +$0.12 and Monday’s -$0.02 with a positive +$0.21 or +3.05% indication.

Ionis Pharmaceuticals (IONS) closed down -$0.51 with a positive +$0.11 or +0.21% indication.

Intellia Therapeutics (NTLA) closed down -$0.77 after Tuesday’s -$1.59 and Monday’s +$1.50 with a positive +$0.42 or +1.76% indication

 

 

 

The BOTTOM LINE: Investors should NOT wait before considering new buys …

The RegMed sector…  needs to “decant” the algorithmic and electronic trading tourist routine … and UNDERSTAND how and when they pump to buy and a dump to sell.

That is WHY I focus on INDICATIONS …

As I wrote on Tuesday, “When it comes to short-term investing or trading; the trend is NOT your friend.”

Sector investors need to be cautious about any buys to see how the Wednesday’s dust settles.

  • Coming attractions …Q4 and FY23 reporting season and “runways” will get measured as consensus and estimates will get missed!

 

Thursday coming after Wednesday’s actions and thoughts:

  • Market sold-off as Fed chief Powell said a Fed rate cut in March was unlikely
  • Benchmark 10-year Treasury slips near 3-week low.
  • The Russell 2000 tumbled 2.45%, undercutting the 21-day line and nearing the 50-day. Regional banks were a big drag on the small-cap index.
  • the Nasdaq was getting extended from its 50-day line. But it just 2.6% above that key level on Wednesday

 

Interesting … Put-call ratio can signal market consolidation ahead:

  • A short-term indicator can indicate a market breather on the horizon, according to Wolfe Research.
  • Managing director Rob Ginsberg said the five-day moving average of the ratio between puts and calls has fallen into what he calls a “complacency zone.” For reference, investors buy a call option when they anticipate a stock’s price will rise, or get a put when they foresee shares tumbling.
  • Investors should prepare for a short-term correction ahead

 

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
  • The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.

As I head to my colonoscopy …talk about drinking their version of Kool-Aid!

 

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.