September 8, 2023 7:42am
As long as inflation is a major threat while traders will weigh the risks of rate hikes as the Fed doesn’t seem to be changing its stance on rates; this is an opportunity to buy some decliners and sell into strength a number of sector stocks. Let’s not forget September ends Q3 with following quarterly earnings releases
Pre-open Indications: 4 Positive and 2 Sell into Strength Indications
RMi defines the extenuating factors of share pricing; subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors!
Never leave an investor uninformed!
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 -0.19% or (-65 points), S&P futures are DOWN -0.20% or (-9 points) and NASDAQ futures are DOWN -0.27% or (-41 points) early in the pre-open – so far
Stock futures were lower Friday pre-open,
European markets were lower,
Asia-Pacific markets were also lower.
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 …
In regular trading Thursday, the Nasdaq suffered a fourth (4th) consecutive day of declines …
Thursday, indexes were mixed with the Dow closing UP +57.54 points or +0.17%, the S&P closed DOWN -14.34 points or -0.32% while the Nasdaq closed DOWN -123.64 points or -0.89%
Thursday’s (9/7) RegMed Investors’ (RMi) closing bell: “Gaze into the abyss, the abyss gazes also into you. A little bit of Nietzsche’s aphorism/quote (in my definition) “The meaning of the abyss is less obvious, but investors must gain the strength to stare past the downslides including its current origin, its constraints, and to gain greater control over our portfolios without eroding our value, our exactitudes that elevates our holdings from the abyss.” … https://www.regmedinvestors.com/articles/13111
Ebb and flow:
Q3: September – 1 holiday, 2 positive and 2 negative closes
· August – 9 positive and 14 negative closes
· July - 1 holiday, 12 positive and 8 negative close
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.
Positive Indications:
Thursday’s closing price, some Wednesday and Tuesday, Monday was a market holiday following aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Solid Biosciences (SLDB) closed down -$0.09 with a positive +$0.12 or +3.58% aftermarket indication
Beam Therapeutics (BEAM) closed up +$0.49 after Wednesday’s +$0.98, Tuesday’s +$0.22 and last Friday’s +$0.28, with a positive +$0.03 or +0.12% pre-open indication
BioLife Solutions (BLFS) closed down -$0.83 after Wednesday’s +$0.28 with a positive +$0.03 or +0.23% aftermarket indication.
Blueprint Medicine (BPMC) closed up +$0.60 after Wednesday’s +$0.36, Tuesday’s -$0.95 and last Friday’s +$0.78, with a positive +$1.01 or +1.99% aftermarket indication.
Ultragenyx Pharmaceuticals (RARE) closed up +$2.35 after Wednesday’s +$0.76 with a positive +$0.36 or +0.88% aftermarket indication.
Sell into Strength: maintaining
Thursday’s closing price, some Wednesday’s and Tuesday’s, Monday was a market holiday following aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Ionis Pharmaceuticals (IONS) closed up +$0.59 after Wednesday’s +$0.45 and Tuesday’s -$1.16 with a negative -$0.81 or -2.01% aftermarket indication
Sage Therapeutics (SAGE) closed up +$0.25 after Wednesday’s +$0.07, Tuesday’s +$0.28 after last Friday’s +$0.29 with a positive +$0.11 or +0.53% 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!
“August was a difficult month, with weak data, and September may be the same. Beyond that, though, the prospects remain good. Any recession is likely some time away, which should keep markets healthy.” < said Brad McMillan, chief investment officer at Commonwealth Financial Network>
As I have stated last week, it is STILL a “musical chairs” game! Remember, risk is riskier … except when it isn’t!
“The three major indexes are on pace for weekly losses, with the S&P 500 down 1.4% and the Nasdaq Composite off by 2%. It will be the first negative week in three for the two indexes. The Dow is tracking for a nearly 1% loss on the week.” <CNBC>
Investors crave share pricing explanations because they give us an illusion of portfolio control. I know what a company is supposed to look like, be like, and smell like to succeed; bottom line, investors own the right to exit or enter sector’s share pricing.
My version of the morning’s “indications” is about what you need to know; it’s what could happen or materialize after the opening and what might happen during the session.
Timing is everything, “I learned very early (as a military officer), if you weren’t 5 minutes early for a meeting, you were 10 minutes late – follow my lead by being EARLY in portfolio deliberations.”
A lot of words … from “others” … yet: “Don't act like the sector is in an uptrend until the sector is actually in an uptrend.”
Where and when is value creation as we have slipped into September and the end of Q3??
Reiterating, “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.
And, I am more frequently right than consequentially wrong
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.
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 could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.
