January 5, 2023 7:47am
Despite one (1) up 2023 session; inflation, rate hikes, volatility and recession possibilities in 2023 and Q4 earnings season due will put a fence around the parameters of share pricing – keep it in the back of your mind
Pre-open Indication: 2 Positive Indications, 1 Negative Indications and 5 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 +0.13% or (+45 points), S&P futures are UP +0.25% or (+9 point) and NASDAQ futures are UP +0.39% or (+42 points) early in the pre-open – so far
Stock futures were flat Thursday,
European markets flat,
Asia-Pacific markets were up.
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Indexes gained Wednesday and rates slid, key jobs data came in slightly better than anticipated, manufacturing data showed a contraction in the sector after 30 months of expansion; while the Fed’s meeting minutes showed the central bank will remain aggressive in its policy to tame high inflation. <me>
- Wednesday, the Dow closed UP +133.40 points (+0.40%), the S&P closed UP +28.82 points (+0.75%) while the Nasdaq closed UP +71.78 points (+0.69%)
Quote to be seriously considered, “Investors have “wounds that are still fresh” following 2022, which brought the worst year for the stock market since 2008. He said investors are attempting to balance what each new piece of economic data or Fed commentary can indicate with broader concerns about the future.” <Keith Buchanan, a portfolio manager at GLOBALT Investments>
Economic Data Docket: data on jobs, the trade deficit and business activity
Wednesday’s (1/4) … RegMed Investors’ (RMi) closing bell: “sector churns higher. Reversing losses but, don’t totally bet on today’s “re-positioning” … https://www.regmedinvestors.com/articles/12771
Ebb and flow:
Q1/23 – 1 holiday, 1 positive and 1 negative close
· 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:
Beam Therapeutics (BEAM) closed up +$3.88 to $41.20 with a negative -$0.20 or -0.49% aftermarket indication,
BioLife Solutions (BLFS) closed up +$0.99 to $18.66 after Tuesday’s -$0.53 with a positive +$0.11 or +0.59% aftermarket indication,
Fate Therapeutics (FATE) closed up +$0.95 to $11.12 with a positive +$0.17 or +1.53% aftermarket indication,
Intellia Therapeutics NTLA) closed up =$4.48 to $39.13 with a positive +$0.67 or +1.71% aftermarket indication
Ionis Pharmaceuticals (IONS) closed up +$1.67 to $39.25 with a neutral ($0.00) aftermarket indication,
Maintaining Positive Indications:
Chinook Therapeutics (KDNY) closed up +$0.20 to $25.64 after Tuesday’s -$0.76 with a positive +$1.08 or +4.21% aftermarket indication
CRISPR Therapeutics (CRSP) closed up +$4.00 to $45.00 with a positive (+$2.38) pre-open indication,
Maintaining Negative Indications:
Agenus (AGEN) closed up +$0.12 to $2.52 after Tuesday’s flat and Monday’s holiday and Friday’s +$0.09 (52-week low of $1.25 and a high of $3.49) with a negative -$0.05 or -1.98% pre-open indication. Possible offering or shelve filing of 1.95 million share … https://www.regmedinvestors.com/articles/12767
The BOTTOM LINE: I try to keep it simple and short!
The “glitter” of JPM’s healthcare Conference <next week> should highlight “disparities” of the sector and NOT just in share pricings!
If it is all about the future, hope is NOT a technical or fundamental factor!
Investors should wait for clear signs of upward or forward motion before making new buys.
“Be wary of buying stocks on the first "blip" of strength. It's still time to be cautious about any new buys. Buy signals and breakouts could quickly fizzle if the market falls back again.” <IBD>
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
Reiterating, “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 Q2/2023 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”.
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.