December 10, 2024 7:42am
Under pressure ahead of more economic data coming later this week
Pre-open Indications: 1 Sell into Strength and 4 Positive Indications
Sooner or later, it’s winners versus losers who will rock and then roll-over to years-end
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!
Monday’s night’s … RegMed Investors (RMi) Closing Bell: sector upside swing fizzles … https://www.regmedinvestors.com/articles/13727
Tuesday: The pre-open Dow futures are DOWN -0.05% or (-23 points), the S&P futures are UP +0.06% or (+3 points) and the Nasdaq futures are UP +0.14% or (+32 points)
- Stock futures are mixed and winging near the flatline on Tuesday, December 10, 2024
- European markets traded lower,
- Asia pacific markets were mixed as Australia closed lower and China closed 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
Monday: The Dow closed DOWN -240.59 points or -0.54%, the S&P closed DOWN -37.32 points or -0.61% while the Nasdaq closed DOWN -123.08 points or -0.62%
- Monday’s advance/decline ended with a negative close at the close of 11 incliner, 23 decliners and 2 flats
Economic Data Docket: NFIB Small Business Optimism, November (94.1 expected, 93.7 prior); Nonfarm Productivity, Q3 final (2.2% expected, 2.2% prior); Unit labor costs, Q3 final, (1.4% expected, 1.9% prior)
Q4/24: 4 negative and 2 positive closes
- November 10 negative and 9 positive closes
- October: 8 positive and 15 negative 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
Monday, Friday, Thursday, Wednesday, Tuesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Ionis Pharmaceuticals (IONS) closed up +$0.47 after Friday’s $1.36 with a positive +$0.63 or +1.63% aftermarket
Positive indications:
Monday, Friday, Thursday, Wednesday, Tuesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed down -$0.37 after Friday’s +$4.45 with a positive +$0.01 or -0.00% pre-market
Beam Therapeutics (BEAM) closed up +$0.81 after Friday’s +$1.39, Thursday’s -$0.70, Wednesday’s +$0.04 and last Tuesday’s -$2.32 following the previous Monday’s +$0.92 with a positive +$0.49 or +1.76% pre-open.
Ultragenyx Pharmaceuticals (RARE) closed down -$0.06 after Friday’s +$2.04, Thursday’s +$0.23, Wednesday’s +$0.44 and last Tuesday’s -$0.93 following the previous Monday’s -$0.03 with a positive +$1.04 or +2.11% aftermarket
Vericel (VCEL) closed down -$0.01 after Friday’s-$0.15, Thursday’s -$1.63 with a positive +$1.53 or +2.71% aftermarket
The BOTTOM LINE: I am STILL suspicious of the sector’s “froth” heading into this week as it runs while trend-chasing traders will turn-on the sector’s upside and sell.
In the week ahead (12/9 – 13), a crucial reading of inflation, the Consumer Price Index (CPI), is slated for release on Wednesday. A reading on wholesale inflation, the Producer Price Index (PPI), will follow on Thursday.
- Referencing the "core" basis, which strips out food and energy prices, CPI is expected to have risen 3.3% over last year in November. This would mark the fourth straight month of a 3.3% reading of core CPI. Monthly core price increases are expected to clock in at 0.3%, also in line with the October gain.
Last week indexes rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation.
“I STILL remain a skeptic, as electronic trading remains the impetus to motivate share pricing; I believe a cell and gene therapy sector getting artificial low” … as proven in past sessions”!
- Trending or bending? …. A little bit of each!
I seem to be asking a question followed by a question …
- Do we need to brace ourself for more economics and their down trending affect?
- Is this market STILL “bubblicious” my concerns are macroeconomic and valuation
Portfolio managers are addressing rotations as December “shakes” to years-end.
- I keep writing about uncertainty and skepticism … and coming realities.
- Even with the potential for some market hiccups along the way, the good news is Q4 has historically skewed positively, even as sector earnings kicked the bucket down the road!
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.
