April 21, 2023 7:39am

Thursday selling seemed the usual and daily alternating cycle as well as prevalent with a weak aftermarket

Pre-open indications: 3 Positive and 1 Negative Indications

It is also the third Friday of the month expiration date, that the option & futures contract perishes

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 - TGIF

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 what will happen behind the headlines today, not tomorrow or yesterday …

 

Dow futures are DOWN -0.09% or (-31 points), S&P futures are DOWN -0.18% or (-7 point) and NASDAQ futures are DOWN -37% or (-49 points) early in the pre-open – so far

U.S. stock futures were lower Friday morning,

European stock markets were slightly higher,

Asia-Pacific markets were also lower.

 

Henry’omics:

We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …

Indexes fell on Thursday reacting to a mixed bag of corporate earnings as the Dow closed DOWN -110.39 points (-0.33%), the S&P closed DOWN -24.73 points (-0.60%) while the Nasdaq closed DOWN -97.67 points (-0.80%).

The major indexes are on pace to end the week in the red, with the Dow and the S&P 500 on track for their worst weekly performances since March. <CNBC>

Economic Data Docket: Purchasing Managers’ Index for the manufacturing and services sectors

 

Thursday’s (4/20) … RegMed Investors’ (RMi) closing bell: “RegMed Investors’ (RMi) closing bell: the percentage downsizers are telling. If it was up on Wednesday, it got snuffed on Thursday with percentage sliders ranging -8.55% (25) from -0.31% versus ascensions (8) +0.20% to +8.70% with 2 flats.” …  https://www.regmedinvestors.com/articles/12925

 

Ebb and flow:

Q2/23 – 1 holiday, 5 positive close and 8 negative closes

Q1/23 –

·         March – ended with 10 positive and 13 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

Positive Indications:

Thursday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

bluebird bio (BLUE) closed down -$0.11 with a positive +$0.05 or +1.50% pre-open indication

Chinook Therapeutics (KDNY) closed down -$1.04 with a positive +$0.76 or +3.56% aftermarket indication.

Fate Therapeutics (FATE) closed down -$0.36 with a positive +$0.10 or +1.67% pre-open indication.

 

Negative Indications:

Thursday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)

BioLife Solutions (BLFS0 closed down -$0.57 with a negative -$0.11 or -0.57% aftermarket indication

 

 

The BOTTOM LINE: I try to keep it simple and short!

I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

TGIF

Investor focus will now be shifting to Q1 earnings season. Investors are hesitant to add to positions re concerns of persisted inflation while electronic trading i.e., algorithms are the only ones to lead the upside.

I STILL believe the cell and gene therapy sector will continue to trade sideways, spotty with some down. Sector breadth has been less impressive on the Nasdaq; it is STILL a tug of war between sentiment and conviction

Reiterating, “A SUSTAINABLE uptrend is needed to get credibility BACK into the sector’s investment”

I also hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!

At ANY time, this week, be ready to take partial profits and exit losers.

 

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.