September 29, 2023 7:25am

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Pre-open Indications: 1 Negative and 8 Positive Indications

My version of the morning’s “indications” is about what you need to know; it’s what could happen or materialize and what did happen at the close of the session

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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 UP +0.48% or (+163 points), S&P futures are UP +0.50% or (+21 points) and NASDAQ futures are UP +0.64% or (+95 points) early in the pre-open – so far

Stock futures rose Friday after riding September’s merry-go-round,

European markets were higher, ending a five-day losing streak,

Asia-Pacific markets largely climbed in the final trading day of the week.

 

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 rose on Thursday as the Dow closed UP +116.07 points or +0.35%, the S&P closed UP +25.19 points or +0.59% while the Nasdaq closed UP +108.43 points or +0.83%.

Economic Data Docket: August’s personal consumption expenditures PCE price index.

·         Economists expect the overall index to rise 0.5% vs. July, fueled by higher gasoline prices. The annual PCE inflation rate is forecast to climb to 3.5% vs. July's 3.3%. But the core PCE price index is seen up 0.2% once again, with core inflation cooling to 3.9% from July's 4.2%.

·         The PCE reading is the Fed’s preferred inflation metric.

·         If core PCE inflation undershoots Fed expectations in the next few months, policymakers will have an easy excuse not to go ahead with one more rate hike this year

 

Thursday’s (9/28) RegMed Investors’ (RMi) closing bell: “as I had asked on Tuesday, how long will the upside last? Reiterating, one (1) to three (3) sessions – 1 barely positive and 2nd positive with a Thursday steep decline.” … https://www.regmedinvestors.com/articles/13141

 

Ebb and flow:

Q3: September – 1 holiday, 8 positive and 11 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:

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:

Thursday’s closing price, some Wednesday, Tuesday, Monday, Friday, Thursday, Wednesday, Tuesday and Monday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Blueprint Medicine (BPMC) closed up +$1.14 with a negative -$0.57 or -1.125 aftermarket indication

 

Positive indications:

Thursday’s closing price, some Wednesday, Tuesday, Monday, Friday, Thursday, Wednesday, Tuesday and Monday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Homology Medicine (FIXX) closed down -$0.02 with a positive +$0.02 or +1.74% aftermarket indication

Ionis Pharmaceuticals (IONS) closed sown -$0.87 after Wednesday’s +$0.85, Tuesday’s+$3.62, Monday’s -$0.05 and last Friday’s +$0.23 with a positive +$0.61 or +1.32% pre-open indication; after jumping on news of Roche deal for two undisclosed early-stage programs for RNA-targeting investigational medicines for the treatment of Alzheimer's disease (AD) and Huntington's disease (HD).

Sage Therapeutics (SAGE) closed down -$0.59 after Wednesday’s +$0.47 and Tuesday’s +$1.58 with a positive +$0.59 or +2.85% aftermarket indication.

Alnylam Pharmaceuticals (ALNY) closed down -$2.83 after Wednesday’s +$1.81, Tuesday’s +$4.28, Monday -$0.78 and last Friday’s-$2.30 with a positive +$0.47 or +0.27% aftermarket indication.

CRISPR Therapeutics (CRSP) closed down -$1.39 with a positive +$0.42 or +0.92% pre-open indication

Intellia Therapeutics (NTLA) closed down -$0.33 with a positive +$0.14 or +0.44% pre-open indication

Editas Medicine (EDIT) closed down -$0.19 with a positive +$0.61 or +8.82% pre-open indication

Ultragenyx Pharmaceuticals (RARE) closed down -$1.74 after Wednesday’s-$0.50, Tuesday’s +$0.74, Monday’s +$0.24 and last Friday’s -0.18 with a positive +$0.18 or +0.51% aftermarket indication.

 

The BOTTOM LINE: underlines the framework of share pricing actions as the month of September and Q3 ends

U.S. equity futures moved higher Friday, while the dollar and Treasury yields retreated, as investors looked to close out the month of September on a high night while tracking inflation data at home and aboard. <The Street>

 

It can be hard to watch cell and gene therapy sector equities declining on Thursday; the question is … should investors be making strong moves to jump in after a depreciating session.

  • Considering the sector has been on the merry-go-round for September anticipating a final algorithmic or electronic trading ascension.

 

Friday, the last session of September and Q3

  • The closely watched XBI biotech index has fallen more than 10% in 2023, while the S&P 500 rose about 13% in the same period. Privately held companies have struggled to raise new capital without taking a hit to their valuations, and biotech IPOs have been rare in number and inconsistent in return.
  • The closely watched XBI biotech index has fallen more than 10% in 2023, while the S&P 500 rose about 13% in the same period. Privately held companies have struggled to raise new capital without taking a hit to their valuations, and biotech IPOs have been rare in number and inconsistent in returns.

 

In final trading session of the week of September and Q3, the sector has gone from oversold to a need to be bought!

  • Investors should be playing this market, but not for all the marbles.
  • Indexes attempted modest gains on Thursday after Wednesday's slim, mixed advance.
  • If the market rally attempt continues to gain momentum, investors could look for a follow-through day starting next week to confirm the new uptrend. But Friday's PCE inflation report and a likely government

 

Friday’s session of influencing economic …

  • Wholesale inventories month-over-month, August (-0.2% expected, -0.2% previously);
  • Retail inventories month-over-month, August (+0.5% expected, +0.3% previously)
  • Personal income, month-over-month, August (+0.4% expected, +0.2% previously);
  • Personal spending, month-over-month, August (+0.4% expected, +0.8% previously);
  • PCE inflation, month-over-month, August (+0.5% expected+ 0.2% previously);
  • PCE inflation, year-over-year, August (+3.4% expected, +3.2% previously);
  • "Core" PCE, month-over-month, August (+0.2% expected, +0.2% previously);
  • "Core" PCE, year-over-year, August (+3.9% expected; +4.2% previously);
  • University of Michigan consumer sentiment, August, final reading (67.7 expected, 67.7 previously)

 

Coming attraction:

  • Though October is known as the “jinx month” because of the 1929 and 1987 crashes, it also has a reputation as a “bear killer,” according to the “Stock Trader’s Almanac.”
  • “While October tends to be among the more volatile months of the year, it’s also the month where we usually see great buying opportunities, because it’s just before November and December, which are seasonally strong periods of the year for the markets.” <Mary Ann Bartels, chief investment strategist at Sanctuary Wealth>

 

I am more frequently right than consequentially wrong; if you want to be liked, don’t be an analyst/journalist. I hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I am more frequently right than consequentially 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.