September 14, 2023 7:43am
Prepare for the August producer price index, a measure of wholesale inflation
Pre-open Indications: 2 Positive and 1 Negative Indications
News: Alnylam Pharmaceuticals (ALNY -$12.15 pre-open) An outside panel of FDA experts panel voted 9 to 3 to back the expanded use of patisiran, a gene silencing drug to treat a type of heart disease associated with a type of heart muscle disease, cardiomyopathy, caused by a wild-type or hereditary transthyretin-mediated amyloidosis (ATTR).
While many talk about the shift in alternating sentiment, I monitor the pulse and focus of possible outcomes. Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors!
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 +0.31% or (+107 points), S&P futures are UP +0.44% or (+19 points) and NASDAQ futures are UP +0.46% or (+71 points) early in the pre-open – so far
Stock futures climbed Thursday morning,
European markets were positive,
Asia-Pacific markets mostly positive.
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’s regular trading, the Dow dived -70.46 points or -0.20%, the S&P closed UP +5.54 points or +0.12% while the Nasdaq closed UP +39.96 points or +0.29%
Economic Data Docket: the August reading of the producer price index. It is expected to have risen 0.4%. In July, wholesale prices climbed 0.3%, surpassing expectations. Retail sales are also due before the open.
Wednesday’s (9/13) RegMed Investors’ (RMi) closing bell: “cell and gene therapy sector runs out of gas. As gasoline also fueled US inflation, snatching the upside after August's Consumer Price Index report showed a bigger-than-expected jump in inflation last month especially.” … https://www.regmedinvestors.com/articles/13119
Ebb and flow:
Q3: September – 1 holiday, 5 positive and 3 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.
Negative Indications:
Wednesday’s closing price, some Tuesday and Monday, with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed flat as trading was stopped after Tuesday’s +$7.93 after Monday’s +$2.29 with a positive outcome by the FDA (in title) with a negative -$12.15 or -5.74% pre-open indication
Positive indications:
Wednesday’s closing price, some Tuesday and Monday with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
CRISPR Therapeutics (CRSP) closed down -$1.01 after Tuesday’s -$0.70 after Monday’s +$1.13 with a positive +$0.41 or +0.83% pre-open indication.
Intellia Therapeutics (NTLA) closed down -$1.65 after Tuesday’s -$1.10 and Monday’s +$0.38 with a positive +$0.04 or +0.11% 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!
The Strange Case of Dr. Jekyll and Mr. Hyde might make for a great read, but it’s far less fun when the sector act like it’s their blueprint. Stocks have lately been alternating between the horrific and the benign.
On Thursday night, more than 143,000 autoworkers are expected to strike when their contracts with America's Big Three automakers expire. A prolonged work stoppage by the United Auto Workers (UAW) union at Stellantis (STLA), GM (GM), and Ford (F) could have broad economic impacts that reach as far as the Fed's next decision on interest rates.
Remember, the sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.
A lot of words, lets see what “shakes” in the next sessions of the week!
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.
