August 29, 2023 7:38am
The cell and gene therapy sector has enjoyed positive closing in 5 out of 6 recent sessions, can it last?
If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi defines the extenuating factors of share pricing.
Pre-Open Indications: Caution with 1 Sell into Strength
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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 -0.02% or (-7 points), S&P futures are DOWN -0.04% or (-2 points) and NASDAQ futures are DOWN -0.11% or (-16 points) early in the pre-open – so far
Stock futures were “barely” i.e., and fluctuating to the downside on Tuesday,
European stock markets were higher,
Asia-Pacific markets were also higher.
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 …
Monday, indexes continued to ascend after Friday’s pop in the final trading week of August with the Dow closing UP +213.08 or +0.62%, the S&P closed UP +27.60 or +0.63% and the Nasdaq also closed UP +114.48 points (+0.84%).
Economic Data Docket: home prices, job openings and consumer confidence will also be due Tuesday morning.
Monday’s (8/28) RegMed Investors’ (RMi) closing bell: “the music slowed eliminating downside. Sector’s loss of (musical) chairs while navigated algos and electronic trade” … https://www.regmedinvestors.com/articles/13097
Ebb and flow:
Q3: August – 8 positive and 12 negative closes
· July - 1 holiday, 12 positive and 8 negative close
· June -1 Holiday, 8 negative and 11 positive closes
· May – 10 negative and 12 positive closes
· April ended - 1 holiday, 8 positive close and 11 negative closes
· 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 post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.
Sell into Strength:
Monday’s closing price, aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Ionis Pharmaceuticals (IONS) closed up +$0.54 after Friday’s +$0.51 with a positive +$0.82 or +2.01% 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!
Will the algorithms and electronic trading let the sector keep its gains?
I am for a number of exits… with investors “holding on to the railings” for new reads on the well-being of the US economy as a dismal August draw to a close.
· Updates on US consumer confidence, jobs openings and the Case-Shiller home price index on Tuesday, an appetizer for the key PCE inflation and August payrolls reports due Thursday and Friday.
Let’s get to the point, few adverbs and even fewer adjectives, no vacillating; I get right to the point, telling investors what has meaning and why news or indications matter.
My “posts” are conveyed with a simplicity of language to highlight what is informative. I am mostly an optimist, yet I also believe that patterns exist.
It “ain’t” been a good August for the cell and gene therapy sector as it suffers 6 positive and 11 negative closes so far… which could also be a set-up for profit reaping in view of economic and inflation “readings”
As I had stated Monday, I am NOT confident that some cell and gene therapy sector equities can continue ascending to the upside; unfortunately, it is STILL a “musical chairs” game!
Risk is riskier …
There's ALSO nothing wrong with standing pat in the short run, holding on to sizable existing exposure.
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.
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Henry McCusker, the editor and publisher of RegMed Investors could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.