June 28, 2023 8:10am
Another weak pre-open indication for today, Tuesday’s had also very weak aftermarket; has sentiment divorced us without serving the papers?
Pre-open Indication: 2 Negative
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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Pre – 8:30 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 UP +0.0.06% or (+24 points), S&P futures are DOWN -0.12% or (-5 points) and NASDAQ futures are DOWN -0.30% or (-45 points) early in the pre-open – so far
Futures inched lower and mixed on Wednesday,
European equity markets were up and elevated,
Asia-Pacific markets were mixed as the region digests May inflation figures out of Australia and China releases its industrial profits for May.
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 fluctuated through the morning session, then turning positive to the close as the Dow closed UP +212.03 points (+0.63%), the S&P closed UP +49.59 points (+1.15%) while the Nasdaq closed UP +219.90 points (+1.65%).
Economic Data Docket: Total mortgage application volume rose 3% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Tuesday (6/27) close … RegMed Investors’ (RMi) closing bell: “I told you yesterday, the cell and gene therapy sector would come back. As it closes positive after a session with growing momentum and price appreciators.” … https://www.regmedinvestors.com/articles/13021
Ebb and flow:
Q2/23 – June: 1 Holiday, 8 negative and 10 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
Negative Indication:
Tuesday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Sage Therapeutics (SAGE) closed down -$0.88 after Monday’s-$1.83 with a negative -0.90 or -1.60% aftermarket indication.
Vericel (VEL) closed up +$0.86 with a negative -$0.86 or -2.30% 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!
Today, Wednesday, I am sitting this one out as even I remain nervous; Tuesday, the sector “popped” as uncle algorism came to visit but, how long is he staying?
Economic data re inflation coming making markets and traders nervous.
Adding to uncertainty was the start of Q2’s final week and 1st half of 2023, weeks ahead of the financial reporting season.
However, I STILL believe bottom-feeding is NOW.
Earnings are about to be ready for release – questions are …RUNWAYS on track for further growth?
I 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!
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.
