June 7, 2023 7:51am
Will electronic trading raid across the tape?
Pre-open Indications: 2 Positive and 2 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.
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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 -0.06 or (-20 points), S&P futures are UP +0.03% or (+1 point) and NASDAQ futures are UP +0.01% or (+1 points) early in the pre-open – so far
Stocks futures were flat Wednesday, June 7, 2023,
European stocks were mixed,
Asia-Pacific markets are trading 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 …
Tuesday, indexes closed up; the Dow closed UP +10.42 points (+0.04%), the S&P closed UP +10.06 points (+0.24%) while the Nasdaq closed UP +46.69 points (+0.36%)
Economic Data Docket: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.81% from 6.91%. Applications for a mortgage to purchase a home fell 2% for the week and were 27% lower than a year ago.
Tuesday (6/5) … RegMed Investors’ (RMi) closing bell: “cell and gene therapy swells as Nasdaq uplifts. With four (4) positive closes following 2 negative closes and a holiday.” … https://www.regmedinvestors.com/articles/12990
Ebb and flow:
Q2/23 – 4 positive closes
· May – 10 negative and 12 positive closes
· April ended - 1 holiday, 8 positive close and 11 negative closes
Q1/23 –
· March – ended with 10 positive and 13 negative closes
· February – 1 holiday, 2 vacation, 7 negative and 8 positive closes
· January – 2 holidays, 11 positive and 9 negative closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Positive Indication:
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BPMC) closed up +$1.98 with a positive +$0.58 or +1% pre-open indication
Sage Therapeutics (SAGE) closed up +$1.81 with a positive +$0.71 or +1.32% aftermarket indication
Negative indications:
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
BioLife Solutions (BLFS) closed up +$0.40 after Monday’s +$0.48 with a negative -$0.31 or -1.29% aftermarket indication
Regenxbio (RGNX) closed up +$0.88 with a negative -$0.40 or -1.99% pre-open indication
The BOTTOM LINE:
I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all, as I try to keep it simple and short!
After four (4) up sessions, algorithms could reduce the upside as they take profits after Monday and Tuesday’s uplifts– I would!
There is STILL value out there however, I AM “parsing” and slowing forecasts anticipating a pullback or speedbump!
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.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. 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.
