June 8, 2023 7:46am

“We’re in a bit of a news vacuum: earnings are done, the debt ceiling is resolved, and now we wait for the Fed next week.” <B. Doran, CEO of BD8 Capital Partners>

Pre-open Indications: 2 Positive and 1 Sell into Strength 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 -0.10% or (-32 points), S&P futures are DOWN -0.08% or (-3 point) and NASDAQ futures are DOWN -0.13% or (-17 points) early in the pre-open – so far

Stock futures were slipping down on Thursday,

European markets inched lower,

Asia-Pacific markets slid overnight.

 

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 …

Wednesday, indexes were mixed as the Dow closed UP +92.76 points (+0.28%), the S&P closed DOWN -16.28 points (-0.38%) while the Nasdaq closed DOWN -171.52 points (-1.29%).

Markets seem to be in a holding pattern while awaiting the Federal Reserve’s policy meeting on June 13 and 14. Economic signs suggest that inflation is inching downward, even though it remains above the central bank’s 2% target.

Economic Data Docket: weekly jobless claims and wholesale inventories due.

 

Wednesday (6/7) … RegMed Investors’ (RMi) closing bell: “the cell and gene therapy sector initiating a fifth (5th) uplifted session. What are the probabilities of algorithms and electronic trading making an impact tomorrow, Thursday?” … https://www.regmedinvestors.com/articles/12992

 

Ebb and flow:

Q2/23 – 5 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:

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

Chinook Therapeutics (KDNY) closed down -$0.80 with a positive +$0.72 or +3% preopen indication

Intellia therapeutics (NTLA) closed down -$0.16 with a positive +$o.70 or +1.615 pre-open indication

 

Sell into Strength:

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

Sage Therapeutics (SAGE) closed up +$2.79 with a flat aftermarket 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 fibe (5) up sessions, algorithms could reduce the upside as they take profits after multiple 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.