August 18, 2022 7:52am
Adding to some diminished positions could expose limited uptrends while cutting losses of others or moving to cash
Pre-open indications: 6 Positive Indication, 2 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.
I DEVOTE a HUGE amount of time to “reckoning” the geography of my coverage group - 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 +0.13% or (+43 points), S&P futures are UP +0.16% (+6 points) and NASDAQ futures are UP +0.17% (+23 points) early in the pre-open – so far,
Stock market futures were barely higher on Thursday,
European markets were fluctuating and struggling,
Asia-Pacific markets are trading lower.
Yesterday, Wednesday … indexes sharply pared losses in afternoon trading on Wednesday after minutes from the Fed's July meeting showed officials said the pace of future interest rates hikes would depend on incoming data.
The Dow closed DOWN 171.62- points (-0.50%); the S&P closed DOWN -31.17 points (-0.72 %) while the Nasdaq closed DOWN -164.43 points (-1.25%)
Economic Data Docket: weekly jobless claims and existing home sales
RegMed Investors’ (RMi) closing bell: ““Waiting for Godot” or as I decipher, waiting for a bottom to happen. The play begins and ends with similar words. Its final lines are: "Well, shall we go. / Yes, let's go. / (They do not move)." Typical … https://www.regmedinvestors.com/articles/12567
Ebb and flow –
Q3/22 – August – 7 positive and 6 negative close
July - 1 holiday, 10 negative and 10 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 -$4.00 to $59.56 with a positive +1.79 or +3.10% pre-open indication,
bluebird bio (BLUE) closed up +$0.20 to $6.78 after the FDA approved a first-of-its-kind treatment that represents a potential cure for a rare blood disorder at a price of $2.8 million per patient – quite a BIG ticket, reimbursement parameters- it didn’t work in the EU. A positive +$0.78 or +11.50% pre-open indication; still questions will exist?
Chinook Therapeutics (KDNY) closed down -$0.83 to $21.61 with a positive +$0.79 or +3.66% pre-open indication,
Ionis Pharmaceuticals (IONS) closed up +$0.20 to $6.78 with a positive +$0.92 or +2.10% pre-open indication,
Ultragenyx (RARE) closed down -$2.06 to $47.25 with a positive +$2.70 or +5.71% pre-open indication,
uniQure NV (QURE) closed down -$0.80 with a positive +0.57 or +3.05% pre-open indication,
Homology Medicine (FIXX) closed down -$0.11 to $2.78 after pausing clinical development of a gene therapy trial while also disclosing a workforce reduction or layoff of 10% of the workforce with a negative -$0.18 or -6.47% pre-open indication,
Regenxbio (RGNX) closed down -$0.79 to $31.20 with a negative -$0.40 or -1.28% pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed up +$0.15 to $4.70 with 1,035 shares traded after Tuesday’s flat (with 1,824 shares traded), Monday and last Friday following the previous Thursday <3 mo. Average = 962 shares>
· Its BOD approved on 7/28 amending and restating their Certificate of Incorporation to affect a reverse split of the issued and outstanding common stock at a ratio of not less than 1-for-1.25 and not greater than 1-for-5. What about all those PPM (private placements) as an offering follows?
· BSTG seems to have the ONLY avenue to finance to utilize non-U.S. Chinese investors? Are we in favor of Beijing funding and continue to control BSTG in our own country? Another question, makes one wonder, Newbridge Securities?
· How much lipstick is a lot on this pig with an almost 4-year-old IND and NO clinical trial initiation?
· New CFO, number #7 for the chute?
· WATCH and be ready for a BIG reverse of shares to enable offering from multiple private placements as it tries to facilitate an offering with Newbridge Securities?
The BOTTOM LINE: I try to keep it simple … and short!
As I have written, I devote a lot of time to the direction of the sector to “reckon” the geography of my coverage group.”
Especially, since I now (temporarily) tread slowly with a “walking stick” having over done it in yard work which as I have been told – NO more. I do love yard work.
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.