January 13, 2023 7:41am
After a surge, there is usually a purge
Pre-open Indication: NONE
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! Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors! Join me … in the NO spin zone.
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 DOWN -0.45% or (-155 points), S&P futures are DOWN -0.56% or (-22 point) and NASDAQ futures are DOWN -0.71% or (-81 points) early in the pre-open – so far
Stock futures are slipping on Friday,
European markets are climbing,
Asia-Pacific shares trade mostly higher
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies
Last night, indexes closed modestly up.
The Dow closed UP +216.24 points (+0.64%), the S&P closed UP +13.48 points (+0.34%) while the Nasdaq closed UP +69.43 points (+0.64%)
Economic Data Docket: University of Michigan releases its preliminary index of consumer sentiment for January.
· Prices of imported goods likely fell 0.9% month-over-month, following a 0.2% slide in October. It would mark the sixth straight monthly drop in prices and coming on the heels of yesterday’s cooler December CPI data.
· Export prices are expected to fall 0.5% in December, following a 0.3% decline the prior month.
Thursday’s (1/12) … RegMed Investors’ (RMi) closing bell: “cell/gene therapy sector appreciated in recent sessions as CPI report confirmed a weakening inflation trend. The so-called “core” index was 5.7% higher than a year ago in December” … https://www.regmedinvestors.com/articles/12784
Ebb and flow:
Q1/23 – 1 holiday, 5 positive and 3 negative closes
· 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
None - after a surge, there is usually a purge
The BOTTOM LINE: I try to keep it simple and short!
I was surprised the JPM23 healthcare conference had little news that drove pricing!
Three (3) sector positive closes in a row as the Nasdaq, which has been a laggard in recent months, cleared its 50-day line for the first time in nearly a month.
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.