August 22, 2022 7:57am
Pre-open indications: 7 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.
More frequently right than consequentially wrong; there is VALUE out there. What I provide is an intelligence daily.
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 -0.90% or (-305 points), S&P futures are DOWN -1.14% (-48 points) and NASDAQ futures are DOWN -1.54% (-204 points) early in the pre-open – so far,
U.S. stock futures fell Monday following a halt in the summer rally last week, as fears of aggressive interest rate hikes,
European markets retreated,
Asia-Pacific markets were mixed and mostly lower.
Stocks tumbled on Friday faltering as rate hike fears resurfaced, leading the indexes to end the week on a sour note. For the week, the S&P edged -1.21% lower, while the Dow slipped -0.16% while the Nasdaq closed out the week down -2.62%.
Despite the week’s moves, many investors and traders are holding out hope for a bounce back.
RegMed Investors’ (RMi) closing bell: “feeling the low while experiencing “positioning complexity. All week the advance/decline (A/D) lines deteriorated as Friday’s $2.3 trillion options expiration removed critical support for stocks.” … https://www.regmedinvestors.com/articles/12571
Ebb and flow –
Q3/22 – August – 7 positive and 6 negative closes
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
BioLife Solutions (BLFS) closed down -$1.01 to $22.74 after Thursday’s +$1.02, Wednesday’s -$2.62, Tuesday’s -$0.66 and last Monday’s +$1.42 with a negative -$0.57 or -2.51% pre-open indication. Their debt is a problem.
Caribou Biosciences (CRBU) closed down -$0.27 to $10.06 with a negative -$0.52 or -5.17% pre-open indication,
Chinook Therapeutics (KDNY) closed up +$0.11 to $21.86 with a negative -$0.11 or -0.50% pre-open indication,
CRISPR Therapeutics (CRSP) closed down -$3.55 to $68.60 after Thursday’s +$0.41, Wednesday’s -$4.11, Tuesday’s -$4.29 and Monday’s +$1.48 with a negative -1.63 or -2.38% pre-open indication.
Intellia Therapeutics (NTLA) closed down -$3.17 to $56.30 with a negative -$1.30 or -2.31% pre-open indication,
Verve Therapeutics (VERV) closed down -$2.07 to $33.48 with a negative -$0.48 or -1.43% pre-open indication,
Vericel (VCEL) closed down -$0.57 to $30.35 with a negative -$1.45 or -4.78% pre-open indication,
Homology Medicine (FIXX) closed down -$0.21 to $2.47 with a positive +$0.07 or +2.83% pre-open indication,
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed flat with 37 shares traded after Thursday’s -$0.15 with 790 shares traded after Wednesday’s +$0.15 with 1,035 shares traded, Tuesday’s flat (with 1,824 shares traded), and last Monday flat <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.”
From the title, “the cell and gene therapy sucked down pond water most of last week”; most investors are under water and it there ain’t no waves.
· Friday closed negative with 5 incliner, 29 decliners and 1 flat
· Thursday closed negative with 14 incliner, 20 decliners and 1 flat
· Wednesday closed negative with 6 incliner, 28 decliners and 1 flat
· Tuesday closed negative with 7 incliner, 25 decliners and 3 flats
· Monday closed positive with 26 incliner, 8 decliners and 1 flat
Investors should wait to see how the market pullback plays out before adding new exposure.
The stock market rally hit resistance around the 200-day moving average last week. The S&P 500 came within one point of that key level while the Dow and Russell 2000 moved above it during the week, but ultimately finished below. <IBD>
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.