April 18, 2024 7:47am
I haven’t changed my tune; the time to buy is when there's blood in the streets." <Baron Rothschild>
On the plus side, it’s coming; this pullback should let the cell and gene therapy sector catch up!
Never leave an investor uninformed!
Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.
Framing the main takeaway … pricing, volume and volatility; it also includes what happened or will happen beyond the headline which shapes today’s potential sector response as seen by RMi.
Thursday: The pre-open Dow futures are UP +0.21% or (+78 points), the S&P futures are UP +0.24% or (+12 points) as the Nasdaq futures are UP +0.30% or (+52 points)
Stock futures climbed Thursday, April 18, 2024
European markets were cautiously higher,
Asia-Pacific markets were higher.
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
Wednesday: The Dow closed DOWN -4 points or -0.01%, the S&P closed UP +1.50 points or +0.03% while the Nasdaq closed UP +20.50 points or +0.12%
Economic Data Docket: Initial jobless claims, week ending April 13 (211,000 previously); Philadelphia Fed Business Outlook, April (0.0 expected, 3.2 previously); Leading Index, March (-0.1% expected, +0.1% previously); Existing home sales, month-over-month, March (-5.1% expected, 9.5% previously)
Tuesday night’s RegMed Investors (RMi) Closing Bell: “start thinking of sector equities’ future direction without the geopolitical cloud overhead. Valuations are pretty low, bad news has also been sheared from sector.” … https://www.regmedinvestors.com/articles/13422
declining threads extend. Elevated risk and rising tensions in the Middle East follows Iran's weekend attacks on Israel.” … https://www.regmedinvestors.com/articles/13420
Q2/24: April - 11 negative and 2 positive closes
Q1/24:
- March – 8 positive and 12 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.
Yet again, I am passing on forecasting the daily indications is focused on inflation-oriented initial jobless claims “numbers” the aftermarket fluctuated as the pre-open waits for the all-clear alarm, … it is still a mix of ups, downs and just unknowns.
The BOTTOM LINE: I take a good or bad feeling, express it, and suddenly that feeling becomes the solution. I also take that sensation itself as a sharpened stick to “poke’ mainstream thinking.
- Timing is everything, “I learned very early (as a military officer), if you were 5 minutes early for a meeting, you were 10 minutes late – follow my lead by being EARLY in portfolio deliberations.”
I’ve wrote BUY, there are Wednesday’s little losses and YET I am still emphasizing bottom-fishing!
It’s STILL all about demand, there is a 6-session downslide and 11 of 13 sessions so far this month with a supply of oversold.
Reiterating …
- An escalating Iran-Israel conflict will soon trigger a far-larger fear spike and a retreat from equities; however, the cell and gene therapy sector is bottoming…
- Stocks will continue under pressure.
The Bumps in Wednesday’s sessions reflect on Thursday:
- The Dow dipped 0.1% in Wednesday's stock market trading, at its worst levels since late January.
- The S&P 500 index gave up 0.6% and the Nasdaq lost 1.15%, both at the worst levels in two months.
- The small-cap Russell 2000 fell 1% to a fresh two-month low.
- The CBOE Volatility Index is trading around 2024 highs, though it's not flashing excessive bearishness.
- The 10-year Treasury yield fell 7 basis points to 4.58%. But it's still up 38 basis points just in April.
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.
- Never forget, one of my usual lines. “The sector is … still what it is, until it isn’t and even then, it doesn’t seem to be … that is after taking a deep breath and holding it.”
- I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been 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.
