February 2, 2023 7:21am
However, can Thursday replicate its moves; the market often has a day-two reaction to Fed meetings?
Up-coming Q4 & FY22 earning’s reporting: Sage Therapeutics (SAGE) on Thursday, 2/16
Pre-Open Indications: 1 Positive Indications, 2 Sell into Strength and 1 Negative Indication
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. 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 …
Dow futures are DOWN -0.32% or (-110 points), S&P futures are UP +0.39% or (+16 point) and NASDAQ futures are UP +1.23% or (+152 points) early in the pre-open – so far
Stock futures are mixed and fluctuating on Thursday,
European markets were higher,
Asia-Pacific markets mostly rose.
Henry’omics:
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
The Fed raised rates by a quarter point and said it still sees "ongoing increases" ahead. Powell said it's a "good thing" and "gratifying" that inflation is coming down even without labor markets weakening.
Indexes slipped and ascended after the policy decision Wednesday … as the Dow closed UP +6.92 points (+0.02%), the S&P closed UP +42.61 points (+1.05%) while the Nasdaq closed UP +231.77 points (+2%)
Economic Data Docket: jobless claims, productivity, labor costs and factory orders.
Wednesday’s (2/1) … RegMed Investors’ (RMi) closing bell: “We waited for Jerome – 25-basis points, Godot never really had a day in the limelight. As sector gets hammered, then snapping back positive having gotten ahead of itself.” … https://www.regmedinvestors.com/articles/12813
Ebb and flow:
Q1/23 – February – 1 positive session
· January – 2 holidays, 11 positive and 9 negative closes
Q4/2022
· 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
Positive Indications:
Verve Therapeutics (VERV) closed down -$0.68 to $22.07 with a positive +$0.52 or +2.36% aftermarket indication
Sell into Strength:
Beam Therapeutics (BEAM) closed up +$2.52 to $45.97 with a positive +$3.02 or +6.57% pew-open indication
Intellia Therapeutics (NTLA) closed up +$0.71 to $43.15 with a positive +$1.39 or +3.22% pre-open indication
Maintaining Negative Indication:
BioLife Solutions (BLFS) closed up +$0.08 to $23.52 after Tuesday’s +$0.32 and Monday’s -$0.38 with a negative -$0.25 or -1.06% aftermarket indication,
The BOTTOM LINE: I try to keep it simple and short!
The market and sector “gyrate” as algorithms and electronic trading satisfies the lust for returns in quant and hedge funds. I STILL don’t think it’s a good time to add exposure.
I do NOT believe there aren't a lot of cell/gene therapy companies in position yet – UNTIL earnings (Q4) are reported – any breakout is a false hope with the inevitable downside re-occurring.
I also hate to be so negative or contrarian but, this is a NO spin zone and truth is its product.
And I can always be WRONG but, mostly EARLY!
So be cautious about adding exposure and stick to loss-cutting rules.
A couple of companies have become … black holes … of investor sentiment; yet, some get financing to continue the chain around investors’ necks until they recognize it could be forever with “some” of these equities.
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.
