May 11, 2023 7:46am
Earnings: Avrobio (AVRO) and Solid Biosciences (SLDB)
Pre-open indications: 1 Sell into Strength, 1 positive and 1 Negative indications
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday.
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.
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 -0.28% or (-94 points), S&P futures are DOWN -0.08% or (-3 point) and NASDAQ futures are UP +0.05% or (+7 points) early in the pre-open – so far
U.S. stock futures were diving yet, mixed on Thursday,
European markets were higher
Asia-Pacific markets traded mixed.
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 were mixed on Wednesday, with two (2) benchmarks gaining and one (1) losing ground; as the Dow closed DOWN -30.81 points (-0.09%), the S&P closed UP +18.42 points (+0.45%) while the Nasdaq closed UP +126.89 points (+1.04%)
Economic Data Docket: Weekly jobless claims numbers
· Yesterday’s core and headline inflation were both more than double the Fed’s target.
· Wednesday’s consumer prices rose 0.4% in April with headline CPI up 4.9% on a year-on-year basis, its first reading below 5% in two years.
Wednesday’s (5/1-0) … RegMed Investors’ (RMi) closing bell: “economic expectation influences share pricing reality. As inflation falls further, equities will ride the roller-coaster -- creating opportunities for short and near-term investors.” … https://www.regmedinvestors.com/articles/12953
Ebb and flow:
Q2/23 – May – 2 negative and 6 positive closes
· April ended - 1 holiday, 8 positive close and 11 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:
CRSPR Therapeutics (CRSP)closed up +$4.35 with a positive +$0.52 or +0.77% pre-open indication
Negative Indications:
bluebird bio (BLUE) closed up +$0.13 after Tuesday’s $0.55 with a negative -$0.02 or -0.40% pre-open indication.
Sell into Strength:
Wednesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Intellia Therapeutics (NTLA) closed up +$121 after Tuesday’s +$0.79 with a positive +0.17 or +0.38% pre-open 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.”
Sector action isn't as strong as the Nasdaq might suggest… as buying opportunities remained relatively light
As I stated, I wouldn’t buy into ANY rally during earnings reporting season, I’d be selling and I have been RIGHT.
This week’s special, sector earnings continue rolling out … just one (1) NET INCOME to date yet, 25 net losses.
The cell and gene therapy sector could experience yet another the “flight of Icarus” … since “our” universe have oscillated between gains and losses since the first of 2023!
Reiterating, “More frequently right than consequentially wrong … “The rubber is hitting the road, so those companies have to do quite well to justify it.” What is the “it” – as LPS (loss-per-share) numbers facilitate downslides.”
Investors should STILL be hesitant to add to positions re concerns of electronic trading i.e., algorithms seem to be the only ones leading any upside – go with flow.
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.
