December 21, 2022 7:43am
Wednesday could offer a bounce; as the Nasdaq is still some distance below its 50-day moving average
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!
The Christmas holiday is starting for me with a limited review for the week, the 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 UP +0.66% or (+217 points), S&P futures are UP +0.41% or (+15 point) and NASDAQ futures are UP +0.22% or (+25 points) early in the pre-open – so far,
Stock futures traded higher early on Wednesday, December 21, 2022
European markets are higher as investor sentiment brightens
Asia-Pacific markets mixed as Japan stocks see second day of losses
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Indexes rose Tuesday as markets shook off a surprise move from the Bank of Japan that sent global bond yields up.
- Last night, the Dow closed UP +92.20 points (+0.28%), the S&P closed UP +3.96 points (+0.10%) while the Nasdaq closed UP +1.08 points (+0.01%)
Economic Data Docket: Mortgage applications to refinance a home jumped 6% last week as interest rates hit their lowest level since September. Applications to purchase a home decreased 0.1% for the week, during a traditionally slow season for the housing market.
- Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it did send homeowners looking for savings on their monthly payments. <CNBC>
Tuesday’s (9/20) … RegMed Investors’ (RMi) closing bell: “thinking about getting back invested to the sector – DON’T and WAIT. Many stocks experienced an upside progression today as I believe, “uncle” algorithms pumped the oversold to push to the upside.” … https://www.regmedinvestors.com/articles/12752
Ebb and flow:
Q4 – December – 9 negative and 5 positive closes
· November -1 holiday, 14 negative and 8 positive closes
· October -1 neutral, 11 positive and 9 negative closes
· 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
I am passing on any Positive or Negative indications – “Let ‘em ride”!
The BOTTOM LINE: I try to keep it simple and short!
Many cell and gene therapy equities experience a boost after being oversold; however, whether they'll hold and rebound is largely dependent on the overall market and IF support levels stay or even fall into place.
The past week’s cell and gene therapy sector roll-call …
· Yesterday’s Tuesday closed positive with 25 incliners, 7 decliners and 3 flats.
· Monday closed negative with 4 incliner, 30 decliners and 1 flat
· Friday closed negative with 16 incliner, 19 decliners and 0 flats
· Thursday closed negative with 6 incliner, 28 decliners and 1 flat
· The previous Wednesday closed negative with 12 incliner, 23 decliners and 0 flat
Sector equities “could extend gains” as markets fluidity ranges forward on Wednesday.
Be prepared … just 8 trading days remain in 2022.
Still, 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.
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.