October 15, 2021 7:50am

Four (4) sector positive closes in a row and six (6) positive closes out of ten (10) sessions

Pre-open indications: 4 SELLs into Strength and 1 Pump (or No Promote)

What I provide is an intelligence daily. RMi outlines the prelude to the daily dose of facts and objectivity! 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.

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 +0.46% (+160 points), S&P futures are UP +0.39% (+17 point) and NASDAQ futures are UP +0.38% (+56 point)

 

U.S. stock index futures were higher despite concerns over hot inflation readings on Friday to close out the week,

European stocks also creeped higher,

Asia-Pacific stocks went along for the ride, rising led by Taiwan’s Taiex index, which surged more than 2% while Taiwan Semiconductor Manufacturing Company rose more than 4.5% following its earnings release a day earlier.

 

Henry’omics:

The S&P 500 advanced 1.71%, registering its best day since March 5, the Dow gained 1.55%, snapping a four-day losing streak while the Nasdaq gained 1.73% for its best day since May.

A better-than-expected employment reading boosted sentiment on Thursday. Weekly jobless claims for the prior week totaled 293,000, the Labor Department said, which was the first time the reading came in below 300,000 since the start of the pandemic. <CNBC>

…  despite hot inflation readings, which some have warned could derail the economic recovery.

 

Economic data Docket: retail sales numbers will be released Friday at 8:30 a.m. ET, while the University of Michigan Consumer Sentiment reading will hit the tape at 10 a.m. ET.

 

If you didn’t remember what happen at Thursday night’s close and the quarter’s “number’s” impact, you won’t be prepared for today’s session:

Q4: October, 6 positive and 4 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:

SELL with a Pump or no promote:

Biostage (BSTG) closed flat at $3.13 with 22 shares traded after Wednesday’s +$0.09 with 3,492 shares traded – WOW after Tuesday’s -$0.20 to $3.01 with 614 shares traded after Monday’s flat after last Friday’s $0.00 (flat) with 32 shares traded. 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. 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?

Sell into Strength:

Alnylam Pharmaceuticals (ALNY) closed up +$5.40 to $209.29 after Wednesday’s +$0.45, Tuesday’s -$1.09 and Monday’s +$0.83) with no pre-open indication.

Fate Therapeutics (FATE) closed up +$2.36 to $62.51 after Wednesday’s +$1.08 to $60.15 after Tuesday’s +$2.52 to $59.07 with a positive +$0.82 or +1.31% aftermarket indication.

Cellectis SA (CLLS) closed up +$1.08 to $10.70 after Wednesday’s +$0.47 to $9.62 with a negative -$0.31 or -2.90% pre-open indication.

CRISPR Therapeutics (CRSP) closed up +$1.93 to $98.70 after Wednesday’s -$5.82, Tuesday’s +$1.94 and Monday’s +$2.02) with a positive +$1.01 or +1.02% pre-market indication.

 

The BOTTOM LINE:  It is Friday and it has been a strong week for the markets and the sector of which I am saying … BYE to highs and seeking relative safety.

Theme is too much uncertainty, what’s more likely to me is skepticism …

Sector stocks have traded choppily over the past several weeks as investors contemplated the implications of ongoing price increases (i.e., inflation) against a backdrop of decelerating economic growth.

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.