March 20, 2024 7:41am

Until after the Fed meeting and Fed chief Powell's news' conference

Pre-open Indications: 1 Sell into Strength, 1 Positive and 1 Negative Indications

Earnings: Adverum Biotechnologies (ADVM)

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Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

I answer or qualify the sector’s equity’s movement; with an emphasis on which company is gaining or losing stride in their portfolio for the short-term

I also follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

Wednesday: The pre-open Dow futures are DOWN -0.06% or (-23 points), the S&P futures are UP +0.02% or (+1 points) as the Nasdaq futures are UP +0.20% or (+36 points)

U.S. stock futures fluctuating in the low zone Wednesday,

European markets were lower,

Asia-Pacific markets rose.

 

Henry’omics:

We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …

Tuesday, the Dow closed UP +312.27 points or +0.81%, the S&P closed UP +29.09 points +0.56% while the Nasdaq closed UP +63.34 points or +0.39%

The Fed is broadly anticipated to keep interest rates unchanged at the conclusion of its two-day policy meeting on Wednesday. However, investors will scan the dot plot for insight into the number and timing of rate cuts, with many anticipating the central bank will start lowering rates in June.

Economic Data Docket:  FOMC rate decision; MBA mortgage applications, week ending March 15 (7.1% previously)

 

Tuesday’s night RegMed Investors (RMi) Closing Bell: “Short-volatility based trades or actual sentiment shaping?  Risk of exits or downside selling wages in daily directions by electronic trading? … https://www.regmedinvestors.com/articles/13380

 

Q1/24: march – 5 positive and 8 negative closes

  • February – 1 market holiday, 11 positive and 9 negative closes
  • January: 2 holidays, 11 negative and 8 positive closes

 

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:

Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Solid Biosciences (SLDB +$1.39 after Monday’s +$0.28, Friday’s +$0.80 after Thursday’s +$0.05 and Wednesday’s +$0.83 with a neutral pre-open indication

 

Positive Indications:

Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

CRISPR Therapeutics (CRSP) closed up +$0.49 after Monday’s -$1.48, Friday’s +$0.94, Thursday’s -$2.77 and last Wednesday’s -$0.52, with a positive +0.04 or +0.06% pre-open indication.

 

The BOTTOM LINE: up, down, round and round … i.e., negamile a stall inevitable to a mile ... not .... traveled.

  • The after and pre-market were negamile - equivalent to one mile not traveled (new one for me).
  • investors waited to find out whether the Fed has shifted its view on how many interest-rate cuts could come this year.

Wall Street analysts suspect that recent hotter-than-expected inflation readings and signs of strength in the US economy could prompt policymakers to forecast rate cuts in 2024, from three previously. That uncertainty could weigh on stocks, and on the broadening of the recent rally. <IBD>

 

There is ALWAYS a however, the cell and gene therapy sector is DUE a rebound EVEN if it is due to algorithms and electronic trading RECOGNIZING risk and the oversold!!

I STILL reiterate, “Don't chase the cell and gene therapy sector.” Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!

 

The remainder of the month’s trading sessions will be critical as the RegMed sector continues earnings’ in LPS (loss-per-share) season, estimates and consensus which set market reaction and will report “runways” and those whose cash positions render their future questionable.

27 (of 35 covered companies) have reported …8 are left to release earnings of my covered group.

 

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
  • 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.

 

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.