April 19, 2024 7:49am
On the positive side, upsides will be coming; these pullbacks should sooner not later let the cell and gene therapy sector catch up
The Strange Case of Dr. Jekyll and Mr. Hyde might make for a great read, but it’s far less fun when the cell and gene therapy sector acts like it’s their blueprint as stocks have lately been alternating between the horrific and the benign.
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.
Friday: The pre-open Dow futures are DOWN -0.12% or (-44 points), the S&P futures are DOWN -0.16% or (-8 points) as the Nasdaq futures are DOWN -0.36% or (-64 points)
Stock futures fell early Friday as Israel retaliation against Iran began.
European stock markets fell,
Asian Pacific equities declined
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
Thursday: The Dow closed UP +24.90 points or +0.07%, the S&P closed DOWN -11.09 points or -0.22% while the Nasdaq closed DOWN -81.87 points or -0.52%
Poised for a losing week, the Dow has fallen -0.6% and the Nasdaq -3.6%, the S&P bringing its week-to-date losses to -2.2%.
Economic Data Docket: No notable economic data
Thursday night’s RegMed Investors (RMi) Closing Bell: “this week’s trend is an admission that the sector is without pricing sustainability suppressing a value directional. There is a 7-session downslide in a row and 12 negative closes of 14 sessions so far this month with a bigger supply of oversold.” … https://www.regmedinvestors.com/articles/13424
Q2/24: April - 12 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 the “flatness” of Thursday’s aftermarket fluctuated as the pre-open waits for the all-clear alarm, … it is still a mix of ups, downs and just unknowns.
Although:
Beam Therapeutics (BEAM) ) is flashing a negative -$0.80 or -3.29% aftermarket
Intellia Therapeutics (NTLA) is flashing a negative -$0.14 or -0.66% aftermarket
CRISPR Therapeutics (CRSP) is flashing a negative -$0.54 or -0.96% aftermarket
The BOTTOM LINE: Investing rules-are-what-we-make-of-them … expectation will be the word for May 2024.
A market and cell and gene therapy sector has been "due" for a bounce, but once again couldn't hold even modest Thursday gains.
- There’s a difference between trust and conviction. Trust is something you can rely on, beyond certainty. Conviction doesn't demand that you, or anyone else, play by the rules. After gains, there’s pain; followed by advances, declines and then progressions
The upside is coming, algorithms and electronic trading insight will put into context what is potential expectation.
- It ain’t over till it’s over, the late, great Yogi Berra used to say, “This one sure ain’t over”.
“The stock market rally on Thursday once again was unable to hold early gains. While technically a mixed session, the overall tone remained bearish. The Nasdaq's power trend in force since November is on the cusp of ending. <IBD>
The Nasdaq's 21-day moving average will almost certainly undercut the 50-day line on Friday. So if Friday is a down day, that will officially end the power trend, providing more confirmation of the market's character change. <IBD>
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.
