December 28, 2022 7:56am
With another coming to follow the New Year
Pre-open Indication: 4 positive Indications
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 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 +0.29% or (+97 points), S&P futures are UP +0.29% or (+11 point) and NASDAQ futures are UP +0.27% or (+29 points) early in the pre-open – so far,
Index’ futures are barely up on Wednesday,
European markets moved cautiously higher
Asia-Pacific markets traded mixed
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Tuesday’s, indexes were mixed as bond yields also pushed higher, putting pressure on growth stocks like technology.
The Dow closed UP +37.63 points (+0.11%), the S&P closed DOWN -15.57 points (-0.40%) while the Nasdaq closed DOWN -144.64 points (-1.38%)
With three trading days left in 2022, the stock market is on track for its worst year since 2008. The Nasdaq has performed the worst of the three indexes, losing 33.8% this year as investors rotated out of growth stocks amid rising recession fears. The Dow has lost -8.5% and S&P 500 -19.7%.
Economic Data Docket: pending home sales and the Richmond Federal Reserve’s business activity survey on tap at 10 a.m. ET.
Tuesday’s (9/27) … RegMed Investors’ (RMi) closing bell: “downside spirals as 2022 fades. Tax loss selling, portfolio rebalancing, and investors deciding where and what to position in their portfolios in 2023 with recession possibilities looming” … https://www.regmedinvestors.com/articles/12760
Ebb and flow:
Q4 – December – 1 holiday, 12 negative and 6 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
Take a turn at the dice throw:
- Beam Therapeutics (BEAM) closed down -$2.28 to $38.08 with a positive +$1.13 or +2.97% pre-open indication.
- Caribou Biosciences (CRBU) closed down -$0.50 to $5.66 with a positive +$0.17 or +3% pre-open indication.
- CRISPR Therapeutics (CRSP) closed down -$3.08 to $41.01 with a positive +$0.44 or +1.07% pre-open indication.
- Ultragenyx (RARE) closed down -$0.65 to $42.87 with a positive +$2.14 or +4.99% pre-open indication.
- Verve Therapeutics (VERV) closed down -$0.36 to $17.85 with a +$0.54 or +3.03% pre-open indication.
The BOTTOM LINE: I try to keep it simple and short!
If I have learned one thing as a former research analyst in a venture and public fund now a journalist; There's nothing wrong with taking no new positions, or even being entirely in cash.
Be prepared … just 3 trading days remain in 2022.
Still, until December 31, it's not a good time to be buying stocks, especially cell and gene therapy sector names; investors may want to be cautious about making ANY buys.
If you want to trade, sector exposure should be slim, limited only to positions that are working; investors might want to take partial profits or simply exit some trades with a gain.
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.