May 3, 2024 8:19am

I suggest that it is better to keep your finger on the sell button but, still keep a buy ticket in the other hand

Pre-open Indications: 3 Sell into Strength, 1 Positive and 1 Negative Indications

Sell when you see the greening of the pre-open upside indication

Weak jobs report sends yields lower: U.S. job growth totaled 175,000 in April, much less than expected as Nonfarm payrolls were expected to increase by 240,000 in April while the unemployment rate held at 3.8%.

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 UP +0.74% or (+284 points), the S&P futures are UP +0.36% or (+18 pints) as the Nasdaq futures are UP +0.62% or (+108 points)

Stock futures rose sharply Friday, May 3, 2024,

European stock markets traded to the upside,

Asia pacific markets were mixed.

 

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+322.37 points or +0.85%, the S&P closed UP +45.81 points or +0.91% while the Nasdaq closed UP +235.48 points or +1.51%

Despite Thursday’s bounce, the major averages remain on pace to end the week in negative territory; the S&P 500 is off by -0.7% week to date, while the Nasdaq is down -0.6% and the Dow is down 0.04%.

Economic Data Docket: the Bureau of Labor Statistics will publish the April jobs report at 8:30 a.m. ET, with nonfarm payroll growth set to come in at 241,000, down from March's gain of 303,000.

  • Nonfarm payrolls, April (+250,000 expected, +303,000 previously);
  • Unemployment Rate, April (3.8% expected, 3.8% previously);
  • Average hourly earnings, month-over-month, April (+0.3% expected, +0.3% previously);
  • Average hourly earnings, year-over-year, April (+4% expected, +4.1% previously);
  • Average weekly hours worked, April (34.4 expected, 34.4 previously);
  • Labor force participation rate, April (62.7% previously)
  • S&P Global US Services PMI, April final (50.9 expected, 50.9 previously);
  • ISM Services PMI, April (52 expected, 51.4 previously)

Thursday night’s RegMed Investors (RMi) Closing Bell: “a sigh of relief as sector adds value after earnings releases. The cell and gene therapy sector stayed-up on Thursday, 1 net income of 4 Q1/24 releases.” …  https://www.regmedinvestors.com/articles/13445

 

Q2/24:  May – 2 positive closes

  • April - 16 negative and 6 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:

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

Blueprint Medicine (BPMC) closed up +$12.14 after Wednesday’s +$3.64 and Tuesday’s -$1.76 with a positive +$2.80 or +2.62% pre-open indication. Also, hit a 52-week high.

CRISPR Therapeutics (CRSP) closed up +$1.26 after Wednesday’s +$0.82, Tuesday’s -$1.84 and Monday’s +$0.92 with a neutral pre-open indication.

Vericel (VCEL) closed up +$0.80 after Wednesday’s +$1.21, Tuesday’s -$0.80 and Monday’s +$0.62 with a neutral pre-open indication.

 

Negative indications:

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

Sage Therapeutics (SAGE) closed down -$0.18 after Wednesday’s -$0.66 with a neutral pre-open indication.

 

Positive indications:

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

Agenus (AGEN) closed down -$0.74 after Wednesday’s +$1.14, Tuesday’s -$0.64 and Monday’s +$1.07 with a positive +$0.05 or +0.40% pre-open indication.

 

The BOTTOM LINE:  Reiterating, the cell and gene therapy sector is still in play as earning season comes with an air-sock waiting for the wind …

  • The cell and gene therapy sector ascended to positive territory Thursday and Wednesday, closing negative on Tuesday and positive on Monday after a positive close last Friday.

Spare the sell call, ruin the portfolio

  • “I hate to be negative or contrarian but, this is a NO spin zone and pricing truth is its product; I can always be WRONG but, I am mostly EARLY!”

 

Q1/24 Reporting Season:

  • Ionis Pharmaceuticals (IONS) and Agenus (AGEN) on Tuesday, 5/7,
  • Editas Medicine (EDIT), Lenz therapeutics (LENZ), Vericel (VCEL), Regenxbio (RGNX) on Wednesday, 5/8
  • BioLife Solutions (BLFS), Intellia Therapeutics (NTLA), Sangamo Therapeutics (SGMO) on Thursday, 5/9

 

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.