September 9, 2021 7:49am
Feeling the burn, is the churn still on?
Pre-open indications: SELLs: 4; BUY: 1; Maintain SELL: 1
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
Framing the main takeaway … pricing, volume and machine trading creates volatility and liquidity!
Dow futures are DOWN -0.25% (-85 points), S&P futures are DOWN -0.26% (-12 point) and NASDAQ futures are DOWN -0.22% (-34 point)
U.S. stock futures were down in early morning trading Thursday as investors remained cautious on the remaining September and October months of trading.
European markets fell, as investors in the region watched for announcements from the European Central Bank.
Asia-Pacific markets mostly fell, as a regulatory crackdown from the Chinese government continued to hit Hong Kong-listed gaming and education stocks.
Data Docket: weekly jobless claims data; economists expected 335,000 Americans filed for unemployment last week, compared to the previous week’s 340,000.
- Job creation is petering out simply because employers already have too many open jobs they can’t fill.
On Wednesday, the Dow (-0.20%), S&P 500 (-0.13%) and the Nasdaq (-0.57%) fell.
If you didn’t remember what happen at Wednesday night’s close and the quarter’s “number’s” impact, you won’t be prepared for today’s session:
- Wednesday’s evening’s recap: “another cell and gene therapy session of drip, drip down on thin volume” … https://www.regmedinvestors.com/articles/12085
- The Nasdaq closed DOWN -87.69 points (-0.57%);
- The IBB closed down -0.96% and XBI closed down -1.16%;
- Sector volume was LOW with 1 of the 7-upside having higher than the 3-month average volume with very LOW volume of 3 of 27-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down -0.18 points or -0.99% at 17.96;
- Wednesday’s percentage (%) of the 7-upside were +0.06% (AXGN) to +20.73% (BSTG) while the 27-downside -0.33% (PSTI) to -4.98% (FATE)
- September, 2 positive and 3 negative close
- August - 12 positive and 10 negative close
- July: 6 positives, 1 holiday and 15 negative closes
Q2/21 Earnings releases … https://www.regmedinvestors.com/articles/11542 … to date:
Companies in my headlights – It’s your decision; I provide an idea and context:
The Biostage (BSTG) Chronicles - Maintaining Sell – notice how the shares trade with the “pump/promote”?
Biostage (BSTG) closed up +$0.57 to $3.32 with 7,833 shares traded after Tuesday’s -$0.75 to $2.75 with 6,705 shares traded following Monday’s Holiday
Question#1: Being able to trade a stock doesn't mean it is worth the share price; an equity that has WHAT is BSTG’s value proposition, after all the share price pumping – NO clinical trial?
Questiob#2: WHAT is the end game of “pumping” the share price as the float is MINIMAL compared to the ever-OUTSTANDING shares? WHERE is the SEC?
MINORITY PUBLIC shareholders are waiting for the specific time, watching and weighing responses to MAINTAIN their RIGHTS.
Pre-open Indications: who and what’s lookin’ which way …
ReNeuron (RENE.L) closed down -$1.50 after being flat on Tuesday following Friday’s up +$4.00 and is bouncing down -$2.63 or -2.48% on Thursday,
Intellia Therapeutics (NTLA) closed down Wednesday -$3.36 after being down Tuesday -$13.53 to $163.25, Friday’s up again +$2.77 to $176.78 and last Thursday’s +$9.97, with a negative -$0.89 or -0.56% pre-market indication,
CRISPR Therapeutics (CRSP) closed down Wednesday -$1.25 after being down again -$1.45 to $120.51 following Friday’s -$5.11 to $121.96 and has a negative -$1.16 or -0.97% pre-market indication,
Editas Medicine (EDIT) closed down again -$2.41 on Wednesday after Tuesday’s -$1.52 to $66.73 and last Friday’s -$4.69 and has a positive +$0.23 or +0.35% pre-market indication,
Cellectis SA (CLLS) closed down -$0.67 to $14.32 and has a positive +$0.33 or +2.30% pre-market indication
The BOTTOM LINE: Sector sentiment has been more than light – maybe non-existent is the word on Wednesday, Tuesday (after Monday’s holiday) and last Friday’s negative closes.
Indicators: The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI):
- Wednesday, the IBB closed up +0.96% and XBI closed down -1.16%
- Tuesday, the IBB closed down -0.21% and XBI closed down -0.54%
- Monday was a holiday
- Friday, the IBB closed down -0.11% and XBI closed down -1.41%
When you’re on a roller coaster, the only thing you can be sure of is you’ll end up back where you started
Investors should take short-term profits to cash-up for coming drifts!
Some earnings’ Reports Outstanding:
- Applied Genetic Technologies (AGTC), Mesoblast (MESO) – still trying to access, Pluristem (PSTI) and ReNeuron (RENE.L)
RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
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.
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 does not hold or have positions in securities referred to in this publication.