July 6, 2022 8:02am
Pre-open indications: 4 SELLS into Strength, 4 Negative Indications and 1 Puff/Pump/Promote
RMi outlines a daily bell ringing 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.
Who is defining the metrics for investors and keeping you notified of the sector and market fluctuations? What I provide is a trusted source of share pricing intelligence – it’s more than opinion, I deal in the facts and numbers that back them up.
The 8:00 A.M., ET edition
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session.
Dow futures are DOWN -0.27% or (-85 points), S&P futures are DOWN -0.35% (-13 points) and NASDAQ futures are DOWN -0.47% (-0.55 points) early in the pre-open – so far,
U.S. equities futures were “floating” down on Wednesday,
European stocks bounced as markets attempted to reverse a negative slide
Asia-Pacific stocks mostly retreated as Covid-19 lockdown concerns resurfaced.
The Dow lost 129 points to start the holiday-shortened week, trimming steeper losses from earlier in the session while the S&P 500 rallied back from a 2% loss in the final hour of trading and finished the day up 0.2%, the Nasdaq outperformed, jumping 1.75%.
Economic Data Docket: Mortgage demand fell week over week even as rates declined, according to the Mortgage Bankers Association. The latest Markit and Institute for Supply Management manufacturing PMI data will be released at 9:45 a.m. and 10:00 a.m., respectively. The Job Openings and Labor Turnover Survey, or JOLTS, will also be released at 10:00 a.m.
· An overnight inversion of the U.S. Treasury yield curve, the market's go-to recession indicator, heaps added pressure on the Fed as minutes from its June meeting are published later today.
RegMed Investors’ (RMi) closing bell: “as indexes dived minus the Nasdaq, the sector surged as the oversold got recognized with the gene editors leading the climb” … https://www.regmedinvestors.com/articles/12501
Ebb and flow –
Q3/22 – 2 positive closes
June – 1 holiday, 9 positive and 11 negative closes
· May - 11 positive and 10 negative closes
· April - 1 holiday, 6 positive and 13 negative closes
· March – 13 negative and 10 positive closes
· February stats: 11 negative, 8 positive closes and 1 holiday
· January stats: 2 holidays, 1 neutral, 13 negative and 6 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
SELL into Strength: time for profit again …
Verve therapeutics (VERV) closed up +$0.40 to $16.03 with a positive +$0.46 or +2.87%
Caribou Biosciences (CRBU) closed up+$0.32 to $5.66 with a positive +$0.34 or +6.01% pre-open indication,
Intellia therapeutics (NTLA) closed up +$9.17 to $63.18 with a negative -$0.09 or -0.14% pre-open indication,
CRISPR Therapeutics (CRSP) closed up +$6.81 to $70.60 with a -$0.01 or -0.01% pre-open indication,
Chinook Therapeutics (KDNY) closed up +$0.80 to $18.31 with a negative -$0.312 or -1.69% pre-open indication,
Beam Therapeutics (BEAM) closed up +$6.70 to $46.49 with a negative -$1.05 or -2.56% pre-open indication,
Global Blood Therapeutics (GBT) closed up+$0.48 to $33.28 with a negative -$0.25 or -0.75% pre-open indication,
Editas Medicine (EDIT) closed up +$1.96 to $14.55 with a flat pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed up +$0.32 to $4.80 with 496 shares traded, Monday was a holiday after Friday’s -$0.17 to $4.48 with 568 shares, Thursday’s flat traded with 1 share traded, and last Wednesday’s+$0.15 to $4.65 with 1,015 shares traded,
.WARNING: “Earnings” will represent a VERY SAD picture of a company’s status without U.S investors and reliance on non-U.S. Chinese investors.
BSTG seems to always finagling a finagle and NOTHING is CLEAN and STRAIGHTFORWARD; is it the ONLY avenue to finance to utilize non-U.S. Chinese investors?
· WATCH and be ready for a BIG reverse of shares to enable offering from multiple private placements
The BOTTOM LINE: I try to keep it simple … and short, the title states my belief and actions!
BUILD CASH POSITIONS, the upward spiral will be STRIPPED, maybe NOT all today but, it’s coming.
Monday was a holiday, Tuesday opened positive after Friday’s positive close.
Still quoting a market strategist has sounded the alarm on more declines ahead for equities, with some suggesting the S&P 500 may plunge another 15%. <Matt Maley, equity strategist at Miller Tabak> "The thing is, people keep saying that the recession is getting priced into the stock market,” Maley said. “I think it’s just barely beginning to be priced in."
Be prepared, earnings or LPS (loss-per-share) sessions are on their way and many companies will be just as glad to get them out as fast-as-possible to re-set ANY trajectory in August for September. I read a heck of a lot of related material for my “Bottom Lines”.
Yet another economist Nouriel Roubini known as "Dr. Doom", said the US is headed for a recession that could send stocks falling another 50%. The S&P 500 just closed its worst first half of the year since 1970. "They will eventually wimp out and accept high inflation," Roubini predicted, referring to the Fed.
The ability to be aware is the point, not that everything will happen as “some, even me” predict".
There is VALUE out there however, it’s about playing or betting the timing of the sector.
We are left with choosing to hang on to “our” portfolio position as it is a given that the sector shifts from fierce, sudden sell-offs to gaining altitude or ascending not to its value but, better than it was.
Whether information or intelligence is good, bad or somewhere in between; 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.
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 securities referred to in this publication.