June 26, 2024 7:50am
NEVER average a loss; sell out if you think you are wrong; buy back when you believe you are right
Headwinds usually turn into tailwinds; all investors can do is wait out the share pricing depression, keep a buy ticket in one hand and a finger on the sell button
Pre-open Indications: 2 Sell into Strength, 3 Positive and 2 Negative Indications
A daily analytic read-out from RMi is constructed of specific warnings challenging share pricing situations
Never leave an investor uninformed
Remember that overnight and pre-open actions’ futures and markets doesn’t necessarily translate into actual trading in today’s market session.
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday
Wednesday: The pre-open Dow futures are DOWN -0.21% or (-83 points), the S&P futures are DOWN -0.03% or (-1 points) as the Nasdaq futures are UP +0.11% or (+21 points)
Stock futures were mixed and essentially flay Wednesday morning,
European stocks fell,
Asia-Pacific markets mostly 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 DOWN -299.05 points or -0.76%, the S&P closed UP +21.43 points or +0.39% while the Nasdaq closed UP +220.84 points or +1.26%
- Tuesday’s (my covered segment of the sector) advance/decline line ended with a negative close of 11 incliners, 22 decliners and 2 flats after Monday’s advance/decline line ended with a positive close of 24 incliners, 8 decliners and 3 flats
Economic Data Docket: new home sales
RegMed Investors (RMi) Closing bell: “apathy, draining sentiment and hesitant sustainability rip through the cell and gene therapy sector. Breadth indicators must improve significantly to confirm any sustainable sector rotation.” … https://www.regmedinvestors.com/articles/13512
Q2/24:
June – 1 market holiday, 6 positive and 10 negative closes
- May – 1 holiday, 11 positive and 11 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.
Insight is about understanding perception
Sell into Strength Indication:
Tuesday, Monday, Friday, Thursday as last Wednesday was a market holiday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed up Tuesday +$17.25 after Monday’s $57.20. Friday +$8.30, Thursday’s +$3.54, last Wednesday was a holiday with a negative -$0.16 or -0.07% pre-open
Ionis Pharmaceuticals (IONS) closed up +$2.32 after Monday’s +$2.85, Friday’s +$1.02 and Thursday’s +$0.17 with a neutral pre-open.
Negative Indications:
Tuesday, Monday, Friday, Thursday as last Wednesday was a market holiday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed down -$0.58 after Monday’s +$1.98, Friday’s +$0.17 with a neutral pre-open
CRISPR Therapeutics (CRSP) closed down -$1.99 after Monday’s +$1.70, Friday’s -$3.36, Thursday’s -$0.97 with a negative -$0.45 or -0.80% pre-open
Positive Indications:
Tuesday, Monday, Friday, Thursday as last Wednesday was a market holiday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Agenus (AGEN) closed down -$0.36 after Monday’s +$0.99, Thursday’s +$0.58, the previous Tuesday’s -$1.31 and Monday’s -$1.16 with a positive +$0.10 or +0.67% aftermarket
Intellia Therapeutics (NTLA) closed down -$1.00 after Monday’s +$0.78 with a positive +$0.35 or +1.46% pre-open.
Lenz Therapeutics (LENZ) closed down -$0.44 after Monday’s -$0.28, Friday’s +$0.35 and Thursday’s -$0.26 with a positive +$0.10 or +0.10% aftermarket
The BOTTOM LINE: Watch the “numbers” measure the daily, weekly, and monthly charts can filter out or lessen the noise of back-and-forth share pricing from sector rotation.
I feel the sector will alternate positive and negative yet after being down so many sessions in May: I do not trust … into the rest of the week coming and ending Friday Q2 and 1stH (half).
Market breadth, which had perked up on Monday, was narrow on Tuesday. The small-cap Russell 2000 fell 0.4% after hitting resistance at the 50-day line on Monday. <IBD>
I’m STILL not FEELING a bullish optimism --- it’s only an up party for visits from “uncle algo and his electronic trading dwarfs”!
Let get to 3 things that you need to know for Friday as you prep for the trading day …
- 4th week coming … 1 positive and 1 negative closes as Q2 comes to and end on Friday.
- 3rd week of June, 3rd session … the cell and gene therapy sector experienced 1 positive and 3 negative closes with 1 market holiday
- 2nd week of June, 5th session … negative closes on Friday and Thursday after Wednesday ascended positively as Tuesday drifted lower, retreating from Monday’s highs.
- 1st week of June: Friday and Thursday ended in the toilet after Wednesday’s positive close Tuesday negative close following Monday’s positive close.
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.
- 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.
