March 24, 2023 7:26am
Bad news, I’m headed to the backdoor
As I have stated, “What goes up with ceremony, goes down with disdain followed by the opposite effect.”
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.
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 -0.93% or (-301 points), S&P futures are DOWN -0.77% or (-30 point) and NASDAQ futures are DOWN -0.38% or (-48 points) early in the pre-open – so far
Stock futures fell Friday,
European stock markets were lower,
Asia Pacific markets mixed.
Henry’omics:
We need to understand the macro to comprehend the micro re “our” universe of cell and gene therapy companies …
Thursday was a volatile session … the Dow closed UP +74.12 points (+0.23%), the S&P closed UP +11.53 points (+0.29%) while the Nasdaq closed UP +117.44 points (+1.01%)
An on-target quote, “the “primary driver of market volatility is investors assessing the push-and-pull between price stability and financial stability,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. Hainlin said that the Fed has a “mandate to tame inflation while also limiting further strains on capital market activity that can stem from ongoing rate hikes.” <CNBC>
Economic Data Docket: purchasing managers’ survey
Thursday’s (3/23) … RegMed Investors’ (RMi) closing bell: “momentum interrupts sector’s share pricing bouncing luckily to the upside.” … https://www.regmedinvestors.com/articles/12886
RegMed Investors (RMi) Research Note: Q4 and FY22 earnings reporting … “The cell and gene therapy sector fluctuates in revenues, collaboration, regulatory submissions and expenses, but the changes may alarm investors who prefer to see expectation and consensus stability and share pricing growth” … https://www.regmedinvestors.com/articles/12843 --- 28 of 35 (my coverage group)
Ebb and flow:
Q1/23 –
March – 6 positive and 11 negative closes
· February – 1 holiday, 2 vacation, 7 negative and 8 positive closes
· January – 2 holidays, 11 positive and 9 negative closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
- Passing on today’s market adventure --- the sector’s direction is uncertain and very subject to more volatility.
The BOTTOM LINE: I try to keep it simple and short!
Thursday, the cell and gene therapy sector attempt was divided, volatile and news-driven; thus, not a confirmed uptrend.
Investors can try to play some “leaders”. While some, have worked, many others have fizzled. Anyone buying stocks on strength in the past two days is likely sitting on at least modest losses. <IBD>
So, today keep your exposure light, hang back and watch.
Also, the rush of Q4 and FY22 earnings to release is STILL on … I do NOT believe there are not a lot of cell/gene therapy companies in position yet – UNTIL earnings (Q4 and FY22) are reported – any breakout is a false hope with the inevitable downside re-occurring.
· AVRO and SLDB reported Thursday
· 28 of my 35 covered have reported - 7 remaining
· There are more coming – waiting for announcements
· Brainstorm Cell Therapeutics (BCLI) 3/30 - Thursday
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, I am mostly EARLY!
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.
