July 9, 2024 7:51am
Is an attraction that exists between all objects, while momentum trading is here to stay, especially in the short term
News: Mesoblast Limited (MESO +$0.14 aftermarket) has resubmitted its BLA for approval of Ryoncil® (remestemcel-L) in the treatment of children with SR-aGVHD. uniQure N.V. (QURE +$0.65 pre-open) announced updated interim data including up to 24 months of follow-up data from 29 treated patients enrolled in the ongoing U.S. and European P1/2 clinical trials of AMT-130 for the treatment of Huntington’s disease.
Pre-open Indications: 3 Positive, 1 Negative and 3 Sell into Strength 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
Tuesday: The pre-open Dow futures are UP +0.05% or (+22 points), the S&P futures are UP +0.20% or (+11 points) as the Nasdaq futures are UP +0.33% or (+68 points)
- U.S. stock futures rose slightly on Tuesday, July 9, 2024
- European stocks were lower,
- Asia-Pacific markets traded 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 …
Monday: The Dow closed DOWN -31.08 points or -0.08%, the S&P closed UP +5.66 points or +0.10% while the Nasdaq closed UP +50.98 points or +0.28%
Monday’s advance/decline line ended with a positive close of 24 incliners, 8 decliners and 3 flats
Economic Data Docket: Fed chief Powell will testify before Congress on Tuesday and Wednesday. The June CPI inflation report is due on Thursday, following the soft jobs report on June 5. PPI inflation data is on Friday.
RegMed Investors (RMi) Closing bell: “the sector bounds up yet always waiting for something. Like, inflation data vulnerabilities and upcoming Q2 LPS (loss-per-share) sector earnings. For the record. NO AI here – HUMINT and SIGMIT only!” … https://www.regmedinvestors.com/articles/13524
More from title: continued
Mesoblast Limited (MESO +$0.14 aftermarket) The filing comes after MESO was informed by FDA at the end of March that, following additional consideration, the available clinical data from the P3 study MSB-GVHD001 appears sufficient to support submission of the proposed BLA for remestemcel-L for treatment of pediatric patients with SR-aGVHD. As a result, the filing addresses remaining CMC (Chemistry, Manufacturing, and Control) items.
Q3/24:
- July: 1 market holiday. 1 day off, 2 negative, 1 neutral (Friday) and 1 positive (Monday) closes
Q2/24:
- June – 1 market holiday, 7 positive and 1 negative closes
- May – 1 holiday, 11 positive and 11 negative closes
- April - 16 negative and 6 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context:
I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.
Insight is about understanding perception
Sell into Strength: Maintaining from Monday …
Monday, Friday, last Thursday was a holiday, Wednesday was a day off and last Tuesday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BPMC) closed up +$4.62 after Friday’s +$2.67 and last Tuesday’s +$1.18 following the previous Monday’s +$1.40 with a positive +$0.09 or +0.08% pre-open
Alnylam Pharmaceuticals (ALNY) closed up +$4.08 after Friday’s +$2.38 and last Tuesday’s +$4.29 following the previous Monday’s +$0.32 with a negative -$0.11 or -0.04% pre-open
Solid Biosciences (SLDB) closed up +$0.88 after Friday’s down -$0.10 and last Tuesday’s -$0.31 after SLDB joined the Russell 3000® Index as of 7/1 with a negative -$0.30 or -4.44% pre-open
Positive Indications: Maintaining from Monday
Monday, Friday, Thursday was a holiday, Wednesday was a day off and last Tuesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed up =$0.77 after Friday’s -$0.40 and last Tuesday’s -$0.48 following the previous Monday’s -$0.37 with a positive +$0.81 or +3.40% pre-open
Mesoblast (MESO +$0.18 <see title>
uniQure N.V. (QURE) announced updated interim data including up to 24 months of follow-up data from 29 treated patients enrolled in the ongoing U.S. and European P1/2 clinical trials of AMT-130 for the treatment of Huntington’s disease.
Negative Indications: Maintaining from Monday
Monday, Friday, Thursday was a holiday, Wednesday was a day off and last Tuesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Agenus (AGEN) closed up +$0.43 after Friday’s +$0.60 and last Tuesday’s -$2.41 following the previous Monday’s -$0.06 with a negative -$0.06 or -0.39% pre-open
The BOTTOM LINE: Are we headed to a clash of algos and electronic trading while Fed Chief Powell and a CPI report loom this week?
The biggest economic data of the week comes Thursday, when the Bureau of Labor Statistics is expected to deliver the latest Consumer Price Index report. Economists see headline CPI slowing to 3% year-over-year growth. Core CPI, in contrast, is expected to hold steady at annualized growth of 3.4%. Producer price index data is due Friday. <IBD>
Every time, when I hear and read new highs – I say BYE!
Last and this week to date:
- (7/8) Monday ended with 24 incliners, 8 decliners and 3 flats
- Friday ended with a neutral close of 16 incliners, 16 decliners and 3 flats
- Thursday was a market holiday
- Wednesday was a day off
- Tuesday ended with a negative close of 6 incliners, 19 decliners and 3 flats
- (7/1) Monday ended with a negative close of 13 incliners, 19 decliners and 3 flats
“It's hard to argue with record highs almost on a repeated basis here." However, viewing the situation from a technical lens," identifies potential concerns. Markets appear overbought, with divergences in market breadth and a steady decline in economic indicators. Based on these factors, anticipate a short-term market pullback. < LPL Financial chief technical strategist Adam Turnquist>
- If not tomorrow, it will be here very soon! - <me>
Due “dates” are soon for Q2 LPS (loss per-share) boding releases.
- I’m still NOT feeling optimism --- it’s only a party for visits from “uncle algo and his electronic trading dwarfs”!
- Reiterating, “There is still the issue of the lack of catalysts as we head into Q2 earnings season.”
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.
- The short-term moving averages help you identify the momentum of the trend — that is, overbought or oversold
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 it’s 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.
