May 22, 2024 7:28am

Although after 4 follow-on sector low sessions, a weak aftermarket with too many oversold, I consider bottom fishing and building cash at the same time

Pre-Open Indications: 2 Sell into Strength, 1 Positive and 2 Negative Indications

A daily analytic discipline is constructed by period updates and specific warnings of emerging situations

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

 

Wednesday: The pre-open Dow futures are DOWN -0.14% or (-58 points), the S&P futures are DOWN -0.12% or (-6 points) as the Nasdaq futures are UP +0.04% or (+6 points)

U.S. stock futures slipped Wednesday,

European stocks opened lower,

Asia Pacific markets were mixed with Singapore closed for a holiday

 

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 +66.81 points or +0.17%, the S&P closed UP +13.28 points or +0.25% while the Nasdaq closed UP +37.75 points or +0.22%
  • Also Tuesday, my covered group of 35 cell and gene therapy companies ended with a negative close of 9 incliners, 24 decliners and 3 flats

Economic Data Docket: US existing home sales and Fed minutes

 

Tuesday’s RegMed Investors (RMi) Closing Bell: “circling the drain. Sector rotation evolves as low volume tampers share pricing” … https://www.regmedinvestors.com/articles/13469

 

Q2/24:  May – 8 positive and 7 negative 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.

Still Selling into Strength Indication:

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

Vericel (VCEL) closed up +$0.40 after Monday’s +$2.78, Friday’s +$0.74, Thursday’s -$1.08 and Wednesday’s +$0.88, with a neutral pre-open indication.

Prime Medicine (PRME +$0.50 after Monday’s +$0.45, Friday’s +$0.04 and last Thursday’s +$0.28 with a Neutral pre-open indication

 

Negative Indications:

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

Lenz Therapeutics (LENZ) closed up +$0.05 after Monday’s +$2.24 with a neutral pre-open indication

Maintaining, Agenus (AGEN) closed up =$0.42 after Monday’s -$0.16 and Friday’s +$0.36 with a neutral pre-open indication.

 

Positive Indication:

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

Solid Biosciences (SLDB) closed down -$0.61 after Monday’s +$0.17, Friday’s -$0.35 and Thursday’s -$0.39 with a neutral pre-open indication.

 

The BOTTOM LINE: Investors should be cautious … as major indexes edged higher, with the Nasdaq setting a record close on Tuesday.

  • However, brace for continued volatility, that exacerbates any moves with risk appetite suppressed as uncertainty pervades the sector.

If playing through the golf course, pick your irons for short and long swings!

  • Some “strategists point to CBOE Volatility Index options data that signal higher demand for hedges against sudden market declines, at a time when the gauge has dropped to historically low levels.” <Yahoo Finance>

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.