September 15, 2023 7:45am
The sector is what it is, until it isn’t and even then, it doesn’t seem to be
Pre-open Indications: 1 Positive, 1 Negative Indications and 1 Sell into strength
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 UP +0.21% or (+75 points), S&P futures are UP +0.08% or (+4 points) and NASDAQ futures are DOWN -0.10% or (-16 points) early in the pre-open – so far
Stock futures ticked up on Friday,
European markets were up,
Asia-Pacific markets were also up.
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 …
Indexes were up having experiences August’s producer price index showing core PPI was held in check last month as the Dow closed UP +331.58 points or +0.96%, the S&P closed UP +37.66 points or +0.84% while the Nasdaq closed UP +112.47 points or +0.81%.
Investors are looking ahead to another packed day for economic data…
Economic Data Docket: preliminary September Michigan sentiment reading, as well as import and export prices for August. Industrial and manufacturing production data for August are also due.
Thursday’s (9/14) RegMed Investors’ (RMi) closing bell: “rebound. Snap crackle and pop, there were low cent winners after Wednesday’s losers as September spins cell and gene therapy sector with 6 positive, 3 negative closes and 1 holiday – so far.” … https://www.regmedinvestors.com/articles/13121
Ebb and flow:
Q3: September – 1 holiday, 6 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.
Sell into Strength:
Thursday’s closing price, some Tuesday and Monday, with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
CRISPR Therapeutics (CRSP) closed up +$1.92 after Wednesday’s -$1.01, Tuesday’s -$0.70 and Monday’s +$1.13 with a negative -$0.03 or +0.06% pre-open indication.
Negative Indications:
Thursday’s closing price, some Tuesday and Monday, with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Intellia Therapeutics (NTLA) closed up +$0.51 after Wednesday’s -$1.65, Tuesday’s -$1.10 and Monday’s +$0.38 with a positive +$0.01 or +0.03% pre-open indication.
Positive indications:
Thursday’s closing price, some Tuesday and Monday with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed down -$18.59 after Wednesday’s flat as trading was stopped after Tuesday’s +$7.93 and Monday’s +$2.29 after a positive outcome by the FDA (in title) with a positive +$0.04 or +0.02% aftermarket indication
The BOTTOM LINE:
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.
The cell and gene therapy closed up on Thursday but was weak for most of those who ascended and remain under pressure. A few good days and many sector equities have enjoyed the upside position so far in September; I believe some equities are actionable or in position whether to be bought, or sold into strength.
Investors should be cautious with new buys after a mixed bag of closes; a couple of bad sessions are due and many equities look … about to be seriously damaged! So, if you're buying on weakness, you might be jumping onto a sinking ship.
Remember, there are four (4) phases of the stock cycle: accumulation; markup; distribution; and markdown
A lot of words … yet: “Don't act like the sector is in an uptrend until the sector is actually in an uptrend.”
On Thursday night, more than 143,000 autoworkers went strike since 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.
Where and when is value creation as we slip into September and the end of Q3 with LPS <loss-per-share> quarterly releases coming due?
Reiterating, “I am STILL 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.
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.
