July 7, 2022 7:59am
The cell and gene therapy sector is under pressure, still facing a lot of key resistance levels
Pre-open indications: 2 positive Indications, 5 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 UP +0.40% or (+123 points), S&P futures are UP +0.33% (+12 points) and NASDAQ futures are UP +0.44% (+52 points) early in the pre-open – so far,
U.S. stock futures were higher into Thursday’s open,
European markets were up while U.K. Prime Minister Boris Johnson is expected to resign as prime Minister
Asia-Pacific markets were mostly higher
Yesterday, the Dow closed UP +69.86 points (+0.23%); the S&P closed UP +13.69 points (+0.36%) while the Nasdaq closed UP +39.61 points (+0.35%)
The major indexes rose slightly as Fed minutes held few surprises.
Fed minutes from the June 14-15 policy meeting revealed that policymakers said a "restrictive policy" was needed, and might need to become "more restrictive," fearing that inflation could become "entrenched." Policymakers saw a late July hike of 50 or 75 basis points as likely, according to the Fed meeting minutes. But Fed chief Jerome Powell already said as much after the meeting.
The Fed minutes offered no real surprises and underscored the big shift in economic conditions in the past three weeks. The Fed minutes mentioned "inflation" 90 times but not "recession" even once. Since the mid-June Fed meeting, recession fears have swelled while commodity prices have fallen sharply. The Fed minutes slightly reinforced market expectations for a rate hike of 75 basis points later this month, with 50 basis points in September. December still marks the likely end of Fed rate hikes. <IBD>
Economic Data Docket: At 8:15 a.m. ET, ADP will release its June estimate of private-sector hiring. At 8:30 a.m. ET, the Labor Department issues its weekly jobless claims report. Those come ahead of Friday's June jobs report.
RegMed Investors’ (RMi) closing bell: “managing risk sometimes means leaving some cash on the table. As the cell and gene therapy sector ascends, it’s just a tug-of-war matter of time for a stronger pull downward” … https://www.regmedinvestors.com/articles/12503
Ebb and flow –
Q3/22 – 1 holiday, 1 negative and 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
Beam Therapeutics (BEAM) closed down -$0.93 to $45.56 after Tuesday’s +$6.70 with a negative $0.47 or -1.03% pre-open indication,
Intellia Therapeutics (NTLA) closed down -$2.67 to $60.51 after Tuesday’s +$9.17 with a positive +$1.49 or -1.03% pre-open indication, although I feel differently,
Editas Medicine (EDIT) closed down -$0.21 to $14.34 after Tuesday’s +$1.96 with a positive +$0.07 or +0.49% pre-open indication,
uniQure NV (QURE) closed down -$0.65 to $20.19 with a negative -$0.45 or -2.23% pre-open indication,
Sage Therapeutics (SAGE) closed up +$0.81 to $34.57 with a negative -$2.55 or -7.38% pre-open indication,
CRISPR Therapeutics (CRSP) closed up +$2.10 to $72.70 after Tuesday’s +$6.81 with a positive +$1.29 or +1.77% pre-open indication,
Voyager Therapeutics (VYGR) closed down -$0.24 to $6.18 with a +$0.12 or +1.94% pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed up +$1.22 to $6.02 with 14, 121 shares traded <3 mo. Average = 1,408 shares> after Tuesday’s +$0.32 to $4.80 with 496 shares traded, Monday was a holiday, Friday’s -$0.17 to $4.48 with 568 shares following last Thursday’s flat traded with 1 share 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 cell and gene therapy sector is under pressure, with the major indexes still facing a lot of key resistance levels.
It's possible that the market will trend sideways for some time. That would allow a lot of bases to form and for clarity to develop on the economy and Fed policy. But even that occurs, there could be head fakes and shakeouts along the way for individual stocks and the overall market. <IBD>
BUILD CASH POSITIONS, the upward spiral will be STRIPPED, maybe NOT all today but, it’s coming.
Monday was a holiday, Tuesday opened positive and Wednesday’s negative close after Friday’s positive close.
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.”
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.