October 7, 2021 7:41am

After multiple negative sessions to expect a wannabe bounce

Pre-open indications: 6 BUYs, 3 SELL and 1 Pump (or No Promote)

News: BrainStorm Cell Therapeutics (BCLI) presentation identifies a range of biomarkers of neurodegeneration, neuroinflammation and neuroprotection to predict treatment “possible” outcomes

Remember that overnight and pre-open actions in futures doesn't necessarily translate into actual trading in the coming day’s session.

Dow futures are UP +0.83% (+286 points), S&P futures are UP +0.95% (+42 point) and NASDAQ futures are UP +1.20% (+177 point)

 

U.S. stock futures jumped on Thursday after reclaiming losses from Wednesday

European stocks rebounded as the pan-European Stoxx 600 added 0.8% in early trade,

Asia-Pacific stocks rose with Hong Kong stocks leading gains; mainland China markets remain closed for the holidays.

 

Henry’omics:

U.S. stock futures were set to be higher Wednesday night for Thursday’s open after the Nasdaq rose 0.47%, following a drop of -1.2% with a short-term suspension of the U.S. debt ceiling to avert a national default and economic crisis, which economists have warned could be disastrous.

 

Economic data Docket: initial jobless claims and consumer credit are due

 

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:

Q4: 1 positive and 3 negative closes

Q3/21:

  • September, 1 holiday, 10 positive and 10 negative close
  • August - 12 positive and 10 negative close
  • July: 6 positives, 1 holiday and 15 negative closes

 

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

Pump or no promote:

Biostage (BSTG) closed down -$0.02 to $3.02 after Tuesday’s -$0.59 following Monday’s +$0.59. For a company with NO clinical trial, an a one (1) and a half year approved IND, four (4) employees and NO CRO <clinical research organization> initiation – so what’s there to invest in – the “Sword of Damocles” hanging over its recent insurance company rejection of legal expense/costs of a terminal death suit against the company?

 

BUY:

Applied Genetic Technologies (AGTC) closed up +$0.07 to $2.70 after Tuesday’s -$0.07 to $2.63, Monday’s $2.70 and last Friday’s $2.84, the previous week’s Monday’s $3.01, Tuesday’s $3.08 and Wednesday’s $3.12 with a positive +$0.02 or +0.74% aftermarket indication.

CRISPR Therapeutics (CRSP) closed down -$0.50 to $101.99 after Tuesday’s $102.49, Monday’s $102.43 and last Friday’s $111.29 and the previous Thursday’s $111.93 with a positive +$2.01 or +1.97% pre-market indication

Fate Therapeutics (FATE) closed down -$0.18 to $57.12 after Tuesday’s $57.30 and Monday’s $56.41 with a positive +$1.27 or +2.22% aftermarket indication.

Global Blood Therapeutics (GBT) closed down -$0.40 to $25.41 after Tuesday’s $25.81 and Monday’s $26.12 with a positive +$0.82 or +3.23% pre-market indication.

Intellia Therapeutics (NTLA) closed up +$0.07 to $129.69 after Tuesday’s +$2.98 to $129.76 and Monday’s -$7.28 to $126.78, with a positive +$1.81 or +1.40% pre-market indication.

Mesoblast (MESO) closed down -$0.17 to $5.55 after Tuesday’s $5.72 and Monday’s $5.88 following last Friday’s $5.95 after last Thursday’s $6.01 with a positive +$0.15 or +2.70% aftermarket indication.

 

SELL into Strength:

Voyager Therapeutics (VYGR) closed up +$1.40 to $3.87 on news of an agreement through which Pfizer Inc (NYSE: PFE) may exercise options to license novel capsids generated from Voyager’s RNA-driven TRACERTM (Tropism Redirection of AAV by Cell-type-specific Expression of RNA) screening technology. Tuesday had closed down -$0.09 to $2.47 with a Thursday positive +$0.03 or +0.77% pre-market indication.

Regenxbio (RGNX) closed up +$1.60 to $32.50 after Tuesday’s $30.90 and Monday’s $32.33 with a negative -$0.46 or -1.42% pre-market indication.

Sage Therapeutics (SAGE) closed up +$0.62 to $45.64 after Tuesday’s $45.02 and Monday’s $44.35 with a negative -$0.54 or -1.18% pre-market indication

 

The BOTTOM LINE: Stocks seems to erase pre-open losses as Senate Minority Leader Mitch McConnell made a debt limit offer.

The sector remains in correction mode but, who lights the candle to see appreciation … investors should sneak into some oversold sector stocks; sure, gains could quickly disappear.

I say investors should take a shot or roll the dice for possible profits or loss as some gains are suspect

Be ready to cut some gains short.

Wednesday was day two of a stock market rally attempt for the Nasdaq, undercutting recent lows on Monday.

Theme is uncertainty, more likely to me: skepticism …

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.