RMi Pre-opening: Can you catch a falling knife?

February 5, 2026 7:48am

Always watching and waiting for yet another econ; investors will be watching weekly jobless claims data for fresh clues on the health of the labor market

Earnings: Arrowhead Pharmaceuticals (ARWR) and IQVA Holdings (IQV)

Pre-open Signals: 2 Negative Indications; still there doesn’t appear to be a quasi-defined “prognosis” today; If you understand probabilities, the inevitable is easier to maneuver

Never leave retail investor uninformed … I say what others won’t, so you can do what others 

“I hate to be considered negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!”

RMi Closing Bell: Intensity … https://www.regmedinvestors.com/articles/14298   

RMi Finance Note: Sangamo Therapeutics (SGMO) Offering 35.19 M shares priced at $0.4719 … https://www.regmedinvestors.com/articles/14295   

I chose to speak-up when many analysts, brokers and commentators have shut-up!

Thursday: The pre-open Dow futures are DOWN -0.30% or (-147 points), the S&P futures are DOWN -0.51% or (-35 points) and the Nasdaq futures are DOWN -0.72% or (-180 points)

• U.S. stock futures are mixed, fluctuating and struggling on Thursday, 2/5
• European markets opened lower,
• Asia Pacific markets are slipping as South Korea’s Kospi leads declines.

Economic Data: weekly jobless claims data and a Fed talking head, Atlanta Fed President Raphael Bostic speaks

• U.S. employers announced 108,435 layoffs for the month, up 118% from the same period a year ago and 205% from December 2025. The total marked the highest for any January since 2009.
• At the same time, companies announced just 5,306 new hires, also the lowest January since 2009, which is when Challenger, Gray & Christmas began tracking such data.

Henry’omics: We need to more than consider the market’s setting to grasp the micro re “our” universe of cell and gene therapy companies

• Wednesday: The Dow closed UP +259.91 points or +0.53%, the S&P closed DOWN -35.06 points or -0.51% while the Nasdaq closed DOWN -350.606 points or -1.51%
• Tuesday: The Dow closed DOWN -166.67 points or -0.34%, the S&P closed DOWN -58.63 points or -0.84% while the Nasdaq closed DOWN -336.9222 points or -1.43%
• Monday: The Dow closed UP +515.19 points or +1.05%, the S&P closed UP +37.41 points or +0.54% while the Nasdaq closed UP +130.292 points or +0.56%

• Last week: The S&P 500 closed up +0.04% and the Nasdaq -0.2%, while the Dow dropped -0.2%.
• The previous week: The S&P 500 was down -0.4%, the Dow -0.4% and the Nasdaq was down -0.1%.
• January: The S&P 500, Dow were up more than 1% and the Nasdaq had a 0.7% gain.

Q1/26 – Q1 February – 1 positive and 2 negative closes

• January – 2 holiday, 2 neutral, 9 negative and 9 positive closes  

Q4 – December,

• 1 holiday, 8 positive and 12 negative closes
• November, 1 holiday, 8 positive and 11 negative sessions
• October, 1 neutral, 10 positive and 12 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.

• A couple of earnings this week and the beginning of sector releases

IQIA Holdings (IQV) closed down -$1.48 after Tuesday’s -$27.54 after Monday’s +$1.01 after Friday’s -$5.33 with a negative -$0.41 or -0.20% pre-open

AxoGen (AXGN) closed down -$0.99 after Tuesday’s +$0.19 with a negative -$0.42 or -1.23% pre-open

The BOTTOM LINE: Welcome to my world of defining the “grey’ in our universe!

Shifting … you know what that means … rangebound for weeks or months. That makes it hard to gain any traction, especially with new positions.

Since, the Q4 and FY25 earnings cycle is about to appear beginning 2/5 and 2 more on 2/14

• 2/12 - Vertex (VRTX)
• 2/13 – Moderna (MRNA)

Welcome to my world of defining the “grey’ in our universe!

• I hate to be so negative or contrarian but, this is a NO spin zone and facts and truth are its products; I can always be WRONG but, I am mostly EARLY!
• if I wanted to be liked, I wouldn’t have been an analyst/journalist.

February begins …

• Wednesday closed negative with 10 incliners, 29 decliners and 1 flat
• Tuesday closed negative with 18 incliners, 21 decliners and 1 flat              
• Monday closed positive with 29 incliners, 10 decliners and 1 flat

January – the last week:

• 1/30 – Friday closed negative with 6 incliners, 32 decliners and 2 flat
• 1/29 - Thursday closed positive with 22 incliners, 17 decliners and 1 flat
• 1/28 - Wednesday closed negative with 4 incliners, 35 decliners and 1 flat
• 1/27 - Tuesday closed positive with 21 incliners, 19 decliners and 0 flat
• 1/26 -Monday closed positive with 19 incliners, 18 decliners and 3 flats

As the leading voice of cell and gene therapy investors; I am NOT always a doom and gloom analyst/journalist but a man who has been “there” (BUY, SELL, VC and multiple operating roles) with the gray hair and a readership following with real numbers to prove 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 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.