April 25, 2023 7:43am

Investors are worried about whether gains can remedy the miserable economic outlook while the roller coaster remains full seated as tech and bank’s  earnings drag down our cell and gene therapy universe?

Q1/23 earnings release this week: Sangamo Therapeutics (SGMO) reports Wednesday – 4/26,

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

 

Dow futures are DOWN -0.29% or (-99 points), S&P futures are DOWN -0.46% or (-19 point) and NASDAQ futures are DOWN -0.39% or (-51 points) early in the pre-open – so far

U.S. stock futures dived Tuesday,

European stock markets fell,

Asia Pacific markets also fall.

 

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 …

Two (2) indexes were up (Dow and S&P) while the Nasdaq dived as the Dow closed UP +66.44 points (+0.20%), the S&P closed UP +3.52 points (+0.09%) while the Nasdaq closed DOWN -35.25 points (-0.29%).

Economic Data Docket: housing prices through the new home sales numbers in March, as well as the S&P/Case-Shiller 20-city home price index data for February. Consumer confidence data for April will also be released.

 

Monday’s (4/24) … RegMed Investors’ (RMi) closing bell: “calling the ball on underperforming share pricing, just too many factors to list. Investor shift focus to Q1 earnings season with LPS (loss-per-share) and runway status.” … https://www.regmedinvestors.com/articles/12929

 

Ebb and flow:

Q2/23 – 1 holiday, 6 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

I am NOT wading into the abyss this a.m. hoping for some or any upside.

 

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.”

I am extremely tentative about the performance of our universe as we are seated and await the first showing (Sangamo Therapeutics (SGMO) of earnings season.

Investors should be hesitant to add to positions re concerns of persisted inflation while electronic trading i.e., algorithms seem to be the only ones to lead the upside.

I am STILL believing, “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.