December 15, 2022 7:47am
And it "ain’t" over, more economic news while monetary policy is going to handicap “our” universe
Indications: 3 Positive Indications, 1 Negative Indication and 2 Sell into Strength
A daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined, evaluated and reported.
I write this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others won’t say or write about - truth!
8:00 a.m. 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 -0.77% or (-270 points), S&P futures are DOWN -1.02% or (-41 point) and NASDAQ futures are DOWN -1.24% or (-147 points) early in the pre-open – so far,
Stock futures were sharply lower Thursday following the Fed’s latest policy update,
European stocks retreated,
Asia-Pacific markets trade lower
Henry’omics:
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Yesterday, indexes gained ahead of Fed rates hikes and Fed Chair Powell's comments, dived, came back and then dropped like a stone dropped into water.
· Followed by …the Dow falling 142 points, while the S&P 500 declined 0.61% and the Nasdaq dropped 0.76%.
Today, futures signal more losses on the Fed's rate hike outlook.
Powell didn't rule out a further step-down in rate hikes, to just a quarter point in February. But where the fed funds rate peaks, and how long it stays high, is more important, he stressed. Notably, Powell doesn't see any rate cuts in 2023. <CNBC>
Economic Data Docket: Retail sales, jobless claims and Philadelphia Fed manufacturing index are all due out at 8:30 a.m. ET.
- The Bank of England on Thursday hiked its main interest rate by 50 basis points and signaled that more tightening will be needed to rein in inflation.
Wednesday’s (9/14) … RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector craters as Fed rate decision unfolds with more hikes next year. The Fed delivered a widely-anticipated 50-basis point rate hike which likens to deepen economic pain in share pricings” … https://www.regmedinvestors.com/articles/12744
Ebb and flow:
Q4 – December – 6 negative and 4 positive closes
· November -1 holiday, 14 negative and 8 positive closes
· October -1 neutral, 11 positive and 9 negative closes
Q3/22 –
· September – 1 holiday, 10 positive and 11 negative closes
· August – 1 neutral, 11 positive and 11 negative closes
· July - 1 holiday, 10 negative and 10 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Attention remains laser-focused on week’s busy economic calendar; there’s still a bit of hesitation in front of inflation data to really see the reality of the markets and cell and gene therapy sector ability or capacity to move upward.
Positive indications exist:
BioLife Solutions (BLFS) closed down -$0.52 to $19.40 and has a positive +$0.49 or +2.53% aftermarket indication.
Intellia Therapeutics (NTLA) closed down -$1.23 to $38.80 with a positive +$0.28 or +0.72% aftermarket indication.
Voyager Therapeutics (VYGR) closed down -$0.41 to $5.84 after Tuesday’s +$0.05 with a positive +$0.12 or +2.05% aftermarket indication.
Negative Indication:
Avrobio (AVRO) closed down -$0.0049 to $0.7951 with a negative -$0.01 or -1.86% aftermarket indication. Is an outstanding stock reverse in the near future followed by Cowen offering??
Maintaining Sell into Strength:
Vericel (VCEL) closed up +$1.19 to $25.77 after Tuesday’s+$0.99 with a positive +$2.80 or +12.19% aftermarket indication
uniQure NV (QURE) closed up +$0.06 to $23.52 after Tuesday’s +$0.47 with a negative -$0.46 or -1.96% pre-open indication.
The BOTTOM LINE: I try to keep it simple and short!
Today, the sector is about to experience a second-day reaction to Fed meetings, especially with so much in flux.
The past two days are a great example that it's not the news, it's the market's reaction to the news.
This market and sector aren't giving any reason to add exposure as the major indexes can't hold a gain
If you're buying on weakness, you might be jumping onto a sinking ship.
Be prepared … just 11 trading days remain in 2022.
Until December 31, investors may want to be cautious about making new buys.
I’d be calculating selling for tax purposes amid the ongoing cell and gene therapy sector volatility, “our” universe’s trend remains " in a constant correction." That means that … lately we are investors are safer on the sidelines.
Yet, it’s setting-up for those to bottom fish for December exits and new Year BUYS although it will be tough to get through the end-of-month sessions
Insight is about understanding perception and also about putting into context what is relevant to expectation fulfillment
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.
