March 6, 2024 7:32am
Very weak aftermarket as Fed Chief Powell set to testify;
Pre-open Indications: 1 Negative and 2 Positive Indications
Subscription is coming; a “buck” a day will keep your portfolio in play - be a subscriber to continue reading! Join me … in the NO spin zone and new website!
Never leave an investor uninformed!
Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.
If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi provides the extenuating factors of share pricing.
Wednesday: The pre-open Dow futures are UP +0.25% or (+96 points), the S&P futures are UP +0.44% or (+22 points) as the Nasdaq futures are UP +0.77% or (+138 points)
U.S. stock futures rose Wednesday,
European markets were higher,
Asia Pacific markets reverse early declines to mostly rise.
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
Indexes got whacked as the Dow closed DOWN -404.64 points or -1.04%, the S&P closed DOWN -52.30 points -1.02% while the Nasdaq closed DOWN -267.92 points or -1.65%.
Economic Data Docket: The ISM services index on Tuesday fell slightly more than expected in February, but still showed continued growth.
- investors will be watching Fed Chair Powell’s testimony before the House Financial Services Committee. They will be seeking additional clarity on where the central bank stands on monetary policy and looking for clues on the pace and timing of anticipated interest rate cuts this year.
Tuesday’s night RegMed Investors (RMi) Closing Bell: “a black swan versus a white swan; referring to different level of risk. A "white swan" event is a foreseeable occurrence that significantly affects the economy or financial markets. This contrasts with a "black swan" occurrence, which is unanticipated and hard to forecast. Risks …some may be predictable, and others are not predictable at all – but all have the capability of bringing a market and a sector down to its knees.” … https://www.regmedinvestors.com/articles/13357
Q1/24: march – 1 positive and 2 negative closes
- February – 1 market holiday, 11 positive and 9 negative closes
- January: 2 holidays, 11 negative and 8 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.
Positive Indications:
Tuesday, Monday, Friday, Thursday, Wednesday, Tuesday and last Monday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Ionis Pharmaceuticals (IONS -$0.68 after Monday’s -$0.59 with a positive =$0.07 or +0.16% pre-open indication.
CRISPR Therapeutics (CRSP -$0.75 after Monday’s -$2.01 with a positive +$0.67 or +0.83% pre-open indication.
Negative Indication:
Tuesday, Monday, Friday, Thursday, Wednesday, Tuesday and last Monday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Ultragenyx Pharmaceuticals (RARE -$1.84 with a negative -$1.01 or -1.96% pre-open indication.
The BOTTOM LINE: after sharp dive, give me some altitude!
The cell and gene therapy sector equities dived on Tuesday and Monday after Friday’s pop after Thursday’s dive after last Wednesday decent.
- The remainder of the month’s trading sessions will be critical as the RegMed sector continues earnings’ in LPS (loss-per-share) season, estimates and consensus which set market reaction and will report “runways” and those whose cash positions render their future questionable.
19 (of 35 covered companies) have reported … RegMed Investors (RMi) Research Note: Q4/23 earnings reporting dates, net losses, cash positions and runway outcomes … https://www.regmedinvestors.com/articles/13166
I STILL reiterate, “Don't chase the cell and gene therapy sector.”
Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!
<span style="font-family:"rom Friday" s="" market:",serif'="">
From Tuesday’s market: stocks closed lower on Monday, backing away from record highs…
- the 10-year U.S. Treasury yield rose to 4.14%
- While the Nasdaq and S&P 500 have held support at the 21-day line throughout the market rally, at some point they will not. And even if the market rebounds, your stocks may not. So keep that in mind.
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.
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.
