December 12, 2023 8:07am
Monday ended with its highest close of the year while CRSP and VRTX were down (BLUE was up +$0.21) despite the FDA’s signal to SCD (sickle cell disease) therapies; while Monday, the cell and gene therapy sector’s, EDIT, NTLA, PRME dived, a couple hope for a Tuesday uplift
Pre-open Indications: 2 Positive and 3 Negative Indications
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Remember that overnight action in a.m. Futures and global markets doesn't necessarily translate into actual trading in the today’s market session.
Sentiment seems fleeting. My usual question, are we facing a prisoner’s dilemma - a situation wherein algorithms acting with electronic trading interest do not achieve a continued optimal outcome for this investor group
The pre-open Dow futures are UP +0.31% or (+114 points), the S&P is UP +0.19% or (+8 points) as the Nasdaq is UP +0.33% or (+53 points)
Stock futures rose slightly Tuesday if the market rally can power through another round of inflation data,
European markets were mixed,
Asia Pacific markets were positive.
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
On Monday, the Dow popped +0.43%, the S&P 500 +0.39%, while the Nasdaq rose +0.20%.
Economic Data Docket: The consumer price index was expected to be flat in November and up 3.1% from a year ago, according to Dow Jones consensus estimates.
- The CPI is expected to come in unchanged for the month of November, with an annual increase of 3.1%. Core prices in November are anticipated to rise 0.3% on the month, with an annual rise of 4%.
Monday, RegMed Investors (RMi) Closing Bell: “what’s on the sector decision horizon? The after effects of vacillating sentiment, conflicting news response or the lack there of, CPI, Fed, tax selling, caution and gene therapy pricing treatment and accessibility hurdles followed by sector financings” … https://www.regmedinvestors.com/articles/13241
Q4: December – 4 positive and 3 negative closes
- November – 11 positives, 1 holiday and 10 negative closes
- October – 1 sick day, 9 positive and 12 negative closes
Companies in my headlights – It’s your decision; I provide ideas and context: looking for lost SHEAP …
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:
Monday’s closing price, some Friday, Thursday, Wednesday, Tuesday, Monday and last Friday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BPMC) closed up +$7.01 after Friday’s +$0.20, Thursday’s +$1.36, Wednesday’s -$0.89, Tuesday’s +$0.59 and last Monday’s +$0.70 with a negative -$0.99 or -1.22% pre-open indication.
Maintaining …Prime Medicine (PRME) closed down -$0.35 after Friday’s -$0.06, Thursday’s +$0.17, Wednesday’s +$0.54 and last Tuesday’s -$0.22 with a neutral pre-open indication.
bluebird bio (BLUE) closed up +$0.21 after Friday’s -$1.95, Thursday’s -$0.02 and Wednesday’s +$0.50 with a negative -$0.03 or -0.98% pre-open indication.
Positive Indications:
Monday’s closing price, some Friday, Thursday, Wednesday, Tuesday, Monday and last Friday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)
CRISPR Therapeutics (CRSP) closed down -$4.26 after Friday’s -$5.67, Thursday’s -$0.93, Wednesday’s +$0.54, last Tuesday’s -$0.91 and the previous Monday’s +$2.86 with a positive +$0.62 or +1.03% aftermarket indication.
Maintaining … Intellia Therapeutics (NTLA) closed down -$0.67 after Friday’s -$0.76, Thursday’s -$0.08 and Wednesday’s -$0.04 with a positive +$0.60 or +2.12% pre-open indication
The BOTTOM LINE: Not changing my “tune” … I remain a skeptic, thus maintaining; investors should consider getting defensive…
- If dead wood or too struggling share pricings are in the portfolio; especially those desperately needing a financing, lacking a partner, restructuring and needing a financing or just wallowing in the market …
- I am STILL waiting for catalysts to justify recent upside appreciation as some news sinks the share pricing other than algorithmic electronic trading!
- While optimism for December remains high, some analysts worry the run-up has been too big, too fast. <The Street>
- Again, it might be prudent to harvest and cash in some chips following the past month’s dramatic rally.
- It’s up to you to decide!
Today’s relevancy from Monday’s session:
- Inflation oriented numbers
- U.S. Treasury yields were little changed after weak 3- and 10-year note auctions.
- Benchmark 10-year notes last rose 1/32 in price to yield 4.2409%, from 4.245% late on Friday.
It's time to think ahead to December. It's usually an important month for the Nasdaq.
- Don’t FORGET portfolio tax selling and a bit of rebalancing
- And then comes January and with worries that the U.S. economy will be slowing down, the potential for continued Middle East violence and, of course, the real prospect of bitterly contested elections across all of the United States. <The Street>
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.
