October 3, 2023 7:38am
Hoping “uncle algo and his electronic trading dwarfs” come to visit
Pre-open Indications: 1 Sell into Strength, 3 Negative and 1 Positive Indications
News: Regeneron Pharmaceuticals (REGN) and Intellia Therapeutics (NTLA +$0.24) expanded its research collaboration to develop additional in vivo CRISPR-based gene editing therapies focused on neurological and muscular diseases.
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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 could happen or materialize
Dow futures are DOWN -0.29% or (-99 points), S&P futures are DOWN -0.37% or (-16 points) and NASDAQ futures are DOWN -0.51% or (-76 points) early in the pre-open – so far
Stock futures were down and fluctuating on Tuesday,
European stock markets were irregular i.e., fluctuating,
Asia-Pacific markets were 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 …
Indexes were lower Monday as the Dow closed DOWN -74.15 points or -0.22%, the S&P closed UP +0.34 points or +0.01% while the Nasdaq closed UP +88.45 points or +0.67%
Economic Data Docket: The Job Openings and Labor Turnover Survey for August. anticipate 8.8 million job openings.
Monday’s (10/2) RegMed Investors’ (RMi) closing bell: “bottoms up. What a way to begin Q4, there are four (4) camps, institutional and hedge funds, electronic trading and algorithms, traders and investors who STILL wonder if the worst is behind us as these “entities” continue to elevate tailwinds and headwinds.” … https://www.regmedinvestors.com/articles/13145
Ebb and flow:
Q4: October – 1 negative close
Q3:
· September – 1 holiday, 8 positive and 12 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.
Sell into Strength:
Monday’s closing price, some Friday, Thursday, Wednesday, and last Tuesday, Monday, closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed up +$1.86 after Friday’s +$3.07with a positive +$1.02 or +0.57% aftermarket indication
Negative Indications:
Monday’s closing price, some Friday, Thursday, Wednesday, and last Tuesday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Maintaining, Ultragenyx Pharmaceuticals (RARE) closed down -$0.85 after Friday’s +$0.48 after Thursday’s -$1.74, Wednesday’s-$0.50 and last Tuesday’s +$0.74 with a negative -$0.61 or -1.75% pre-open indication.
Prime Medicine (PRME) closed down -$0.80 after Friday’s +$0.04 with a negative -$0.09 or -1.03%pre-open indication.
CRISPR Therapeutics (CRSP) closed down -$2.98 after Friday’s -$0.35 and Thursday’s -$1.39 with a negative -$0.06 or -0.14% pre-open indication
Positive indications:
Monday’s closing price, some Friday, Thursday Wednesday and last Tuesday, Monday closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Maintaining, Intellia Therapeutics (NTLA) closed down -$2.21 after Friday’s -$0.14 and Thursday’s -$0.33 with a positive +$0.24 or +0.82% pre-open indication
The BOTTOM LINE: October, Q4 historically has been the best quarter for the U.S. stock market …
- However, what's “spooking” the market and cell and gene therapy sector is volatility …
- After 1 negative close in the new October, three (3) negative weekly closes and twelve (12) negative closes of twenty-one (21) in the month of September; hope springs eternal, which is NOT a technical indicator.
- An issue, the 10-year U.S. Treasury yield hit new highs, trading as high as 4.714% before closing at 4.68%.
- Fed said last month it may hike rates again as it struggles to bring inflation closer to its 2% annual target.
Weekly Economic data Calendar:
- Tuesday: JOLTS Job Openings, August (8.9 million expected, 8.8 million previously);
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!
- I am more frequently right than consequentially wrong; if you want to be liked, don’t be an analyst/journalist.
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.
