January 4, 2023 7:49am
Although, some indications are encouraging, they need support not resistance or technical hurdles
Pre-open Indication: 3 Positive Indications, 2 Negative Indications and 2 Sell into Strength
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!
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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 +0.17% or (+55 points), S&P futures are UP +0.23% or (+9 point) and NASDAQ futures are UP +0.45% or (+49 points) early in the pre-open – so far,
Stock futures traded higher Wednesday,
European markets traded higher,
Asia-Pacific markets were higher.
Henry’omics:
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Last night, indexes gave up early gains on the first trading day of 2023.
- The Dow closed DOWN -10.88 points (-0.03%), the S&P closed DOWN -15.36 points (-0.40%) while the Nasdaq closed DOWN -79.50 points (-0.76%
Economic Data Docket: release of Fed’s policy meeting “minutes”, the Job Openings and Labor Turnover Survey, or JOLTS, and ISM manufacturing data
Tuesday’s (1/3) … RegMed Investors’ (RMi) closing bell: “2023 first session of pain as recessionary perceptions initiated sudden decline. Momentum turned negative breaking support.” … https://www.regmedinvestors.com/articles/12769
Ebb and flow:
Q1/23 – 1 holiday and 1 negative close
Q4
· December – 1 holiday, 13 negative and 8 positive closes
· November -1 holiday, 14 negative and 8 positive closes
· October -1 neutral, 11 positive and 9 negative closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Sell Into Strength:
Caribou Biosciences (CRBU) closed up +$0.33 to $6.61 with a negative -$0.11 or -1.66% aftermarket indication,
Solid Biosciences (SLDB) closed up +$0.24 to $5.62 with a positive +$0.12 or +2.14% aftermarket indication,
Positive Indications:
AxoGen (AXGN) closed down -$0.10 to $9.88 with a positive +$0.49 or +4.96% aftermarket indication,
BioLife solutions (BLFS) closed down -$0.53 to $17.67 with a positive +$0.88 or +4.98% aftermarket indication,
Chinook Therapeutics (KDNY) closed down -$0.76 to $25.44 with a positive +$1.35 or +5.31% aftermarket indication
Negative Indications:
Agenus (AGEN) closed flat at $2.40 after Monday’s holiday and Friday’s +$0.09 (52-week low of $1.25 and a high of $3.49) with a negative -$0.00 or -0.00% pre-open indication. Possible offering or shelve filing of 1.95 million share … https://www.regmedinvestors.com/articles/12767
Ultragenyx (RARE) closed down -$0.81 to $45.52 with a negative -$0.56 or -1.23% aftermarket indication,
The BOTTOM LINE: I try to keep it simple and short!
Investors should wait for clear signs of upward or forward motion before making new buys.
My interpretation of the morning’s numbers is written to be informative; it’s built on will happen behind the headlines today, not tomorrow or yesterday
As 2023 trading begins, some investors think the pain is far from over; I agree for Q1 as earnings releases could hinder share pricing however, once through that “gauntlet” – we could see a bit of a smoother road in Q2 hoping for a few clinical results and successful financings – well needed for more than usual companies.
“Don't act like the market is in an uptrend until the market is actually in an uptrend”. <IBD>
Just remember, when you point one finger, there are three fingers pointing back at you.
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.
