October 29, 2021 7:42am
As I stated, “Are we to be ready for a goodbye Friday to come back next week?” Response, maybe?
Pre-open indications: 1 BUY, 6 SELLs with 1 Pump (or No Promote)
What I provide is an intelligence daily. RMi outlines a daily bell weather of “indications” 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 DOWN -0.12% (-41 points), S&P futures are DOWN -0.49% (-22 point) and NASDAQ futures are DOWN -0.87% (-136 point)
Stock futures are down and slipping in early morning trading Friday,
European stocks were lower as the pan-European Stoxx 600 was around 0.6% lower during the morning session,
Asia-Pacific stocks were mixed as Australian markets fell
Henry’omics:
I am also a watcher of overnight actions, which came after the S&P 500 and the Nasdaq closed Thursday’s session at record highs as investors disregarded disheartening economic data.
Month to date, the S&P 500 is up 6.7%, the Dow has gained 5.6%, while the Nasdaq has rallied 6.9% in October.
Investors largely shrugged off Thursday’s GDP report. The U.S. economy grew at a 2% annualized pace in the third quarter, its slowest increase since the end of the 2020 recession and missing expectations of 2.8% growth, the report showed. <CNBC>
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:
- Thursday’s evening’s recap: “a good session to sell into strength” … https://www.regmedinvestors.com/articles/12159
Q4: October, 8 positive and 12 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 with 95 shares traded after Wednesday’s +$0.10 after being down -$0.40 with 216 shares traded when suddenly 1,676 shares traded following Tuesday’s -$0.05 with 1,216 shares traded after Monday’s flat at $3.05 with 609 shares traded and Friday’s -$0.156 with 516 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?
Probabilities versus share pricing moves:
BUY after a huge dive and more than possible rebound even if early:
Alnylam Pharmaceuticals (ALNY) closed down -$29.02 to $162.14 after Wednesday’s -$6.55, Tuesday’s -$1.96 and Monday’s +$1.06) with a positive +$1.86 or +1.155 pre-open indication,
SELL into Strength:
CRISPR Therapeutics (CRSP) closed up +$1.22 to $94.00 with a negative -$0.44 or -0.47% pre-open indication,
Global Blood Therapeutics (GBT) closed up +$3.55 to $36.33 after Wednesday’s +$2.79, Tuesday’s -$0.86 and Monday’s -$0.71) with a negative -$0.64 or -1.76% pre-open indication,
uniQure NV (QURE) closed up +$1.59 to $30.65 with a negative -$0.11 or -0.36% pre-open indication,
Maintaining SELL into Strength:
BioLife Solutions (BLFS) closed up +$2.25 to $50.75 after Wednesday’s +$1.23, Tuesday’s +$1.99 and Monday’s +$2.28 with NO pre-open indication,
Intellia Therapeutics (NTLA) closed up +$6.51 to $136.11 after Thursday’s -$2.40 to $129.60 with a negative -$0.11 or -0.08% aftermarket indication; also, with a 52-week change of +441.35%.
Editas Medicine (EDIT) closed up +$1.35 to $38.15 after Wednesday’s -$1.10, Tuesday’s -$0.31 and Monday’s +$0.39) with a negative -$0.25 or -0.66% pre-open indication,
The BOTTOM LINE: I’ve been circling the portfolio for days as earnings and market fluctuations pronounce a “hurt” to sector equities.
“The Nasdaq briefly hit resistance this week with a number of breakouts struggling. Meanwhile, it's the middle of earnings season. A number of stocks have broken out or triggered early entries just before quarterly results, making them highly risky. A number of other stocks are setting up, but with earnings in the coming days. Earnings gaps have been suspect this week, though some have worked.” <IBD>
Reiterating, “Don't let earnings week take advantage of you” … because it will!
Be ready to act on up-coming earnings news, good or bad, but don't be too hasty.
It's highly risky to buy a stock just before earnings, and investors may want to take whole or partial profits on holdings with tiny gains.
I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim any new highs if one can!”
The stem, cell and gene therapy earnings with Sage Therapeutics (SAGE), Ultragenyx Pharmaceuticals (RARE) and Regenxbio (RGNX) on 11/2, Editas Medicine (EDIT) on 11/8, Vericel (VCEL) on 11/9, Athersys (ATHX) and Brainstorm Cell Therapeutics (BCLI) coming 11/15 (to date).
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.
WHY do I keep analyzing Biostage (BSTG): When one sees an inextricable wrong and morally repulsive scenario; it takes courage, resolve and patience to stay the course of asking the questions without response!
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.
