November 21, 2024 8:04am
More econs, jobless claims and existing home sales
The Labor Department reported that jobless claim applications fell by 6,000 to 213,000 for the week of Nov. 16. That’s fewer than the 220,000 analysts forecast. The 4-week average of weekly claims, which quiets some of the weekly volatility, fell by 3,750 to 217,750. Continuing claims, the total number of Americans collecting jobless benefits, rose by 36,000 to 1.91 million for the week of Nov. 9. That was higher than expected and the most in 3 years.
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!
MY Pre-Open Thoughts: 1 Sell into Strength, 1 Positive and 3 Negative Indications
Never leave an investor uninform
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!
RegMed Investors (RMi) Closing Bell: sector equities keep getting cheaper … https://www.regmedinvestors.com/articles/13706
Thursday: The pre-open Dow futures are UP +0.53% (+229 points), the S&P futures are UP +0.54% or (+32 points) and the Nasdaq futures are UP +0.56% or (+116 points)
- Stock futures edged slightly higher, Thursday 11/21,
- European stocks turned flat midday
- Asia Pacific markets fall
Henry’omics: We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies
Wednesday, a mixed market session as the Dow jumped nearly 139.53 points or +0.32%, the S&P 500 ended near flat +0.13 points or +0.00% while the Nasdaq slipped -21.33 points or -0.11%.
Economic Data Docket: Initial jobless claims, week ending Nov. 16 (217,000 previously); Leading index, October (-0.3% expected, -0.5% previously); Existing home sales month-over-month, October (+2.3% expected, -1% previously); Kansas City Fed manufacturing activity, November (-4 previously)
- Cleveland Federal Reserve President Beth Hammack, Chicago Fed President Austan Goolsbee and Kansas City Fed President Jeff Schmid are also expected to give remarks throughout the day.
Q4/24: November 9 negative and 5 positive closes
- October: 8 positive and 15 negative closes
Q3/24:
- September – 10 positive and 10 negative close
- August – I neutral, 10 positive and 11 negative closes
- July: 1 market holiday. 1 day off, 6 negative, 1 neutral and 12 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context
I post about “indication intelligence” looking toward investment conferences … 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
Wednesday, 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 +$1.43 after Tuesday’s +$2.94, Monday’s +$0.41 and Friday’s +$0.41 with a positive +$1.73 or +3.02% pre-open aftermarket
Positive Indications:
Wednesday, Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Mesoblast (MESO) closed down -$0.49 after Tuesday’s +$0.18, Monday’s +$0.60, Friday’s -$1.28, Thursday’s -$0.39, and last Wednesday’s +$1.76 with a positive +$0.16 or +1.55% pre-market
Negative Indication:
Wednesday, Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed up +$14.52 after Tuesday’s +$2.00 after Monday’s -$22.35, Thursday’s -$5.56 and last Wednesday’s -$4.35 with a negative -$0.88 or -0.27% pre-market
Beam Therapeutics (BEAM) closed down -$0.80 after Tuesday’s +$1.17 after Monday’s +$0.07, Friday’s -$2.26, Thursday’s -$0.31 and last Wednesday’s -$0.44 with a negative -$0.19 or -0.78% aftermarket
Sage Therapeutics (SAGE) closed flat at $0.00 after Tuesday’s +$0.11, Monday’s -$0.32 with a positive +$0.02 or +0.41% aftermarket
The BOTTOM LINE: No flip to the switch … too many down sessions.
Ranking the end of October:
- 11/20 – Wednesday: closed negative with 15 incliner, 17 decliners and 3 flats
- 11/19 - Tuesday closed positive with 19 incliner, 14 decliners and 2 flats
- 11/18 – Monday closed negative with 14 incliner, 20 decliners and 1 flat
- 11/15 – Friday: closed negative with 4 incliner, 31 decliners and 1 flat
- 11/14 – Thursday: closed negative with 3 incliner, 31 decliners and 1 flat
- 11/13 – Wednesday: closed negative with 8 incliner, 25 decliners and 2 flats
- 11/12 – Tuesday: closed negative with 7 incliner, 27 decliners and 1 flat
- 11/11 – Monday closed positive with 23 incliner, 11 decliners and 1 flat
- 11/8 – Friday: closed negative with 15 incliner, 18 decliners and 2 flats
- 11/7 – Thursday: closed negative with 11 incliner, 20 decliners and 4 flats
- 11/6 – Wednesday: closed positive with 26 incliner, 7 decliners and 2 flats
- 11/5 – Tuesday closed positive with 25 incliner, 8 decliners and 2 flats
- 11/4 – Monday closed negative with 15 incliner, 18 decliners and 2 flats
- 11/1 - Friday advance/decline line closed positive with 26 incliner, 7 decliners and 2 flats
I haven’t changed my tune; it’s time for the oversold to be recognized, one of my calling cards with words!
- An injection of sentiment mixed with conviction needed.
Welcome to my world of defining the “grey’ in our universe!
- 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.
