April 24, 2024 7:49am

Skim if you can trim, buy if it will fly and sell if compelled as I BELIEVE a “wobble” IS coming.

Pre-open Indications: 6 Sell into Strength and 1 Negative Indications

Economic data releases and Fed responses usually send equities seesawing back and forth

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.

Framing the main takeaway … pricing, volume and volatility; it also includes what happened or will happen beyond the headline which shapes today’s potential sector response as seen by RMi.

 

Wednesday: The pre-open Dow futures are UP +0.04% or (+17 points), the S&P futures are UP +0.22% or (+1 points) as the Nasdaq futures are UP +0.63% or (+111 points)

Futures were up and fluctuating on Wednesday,

European markets opened in positive territory,

Asia Pacific markets were also 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 …

Tuesday: The Dow closed UP +263.71 points or +0.69%, the S&P closed UP +59.95 points or +1.20% while the Nasdaq closed UP +245.34 points or +1.59%

Q1/24 earnings season begins this week, alongside the March reading of the Personal Consumption Expenditures index (on Thursday) and the Fed's preferred inflation gauge (on Friday)

Economic Data Docket: MBA Mortgage Applications, week ending April 19 (+3.3% prior); Durable Goods Orders, March preliminary (+2.5% expected, +1.3% prior)

 

Tuesday night’s RegMed Investors (RMi) Closing Bell: “welcoming the upside trend. As indexes take a bullish tone ahead of key economic data and the beginning of sector earnings’ season.” …  https://www.regmedinvestors.com/articles/13430

 

Q2/24:  April - 13 negative and 4 positive closes

Q1/24:

  • March – 8 positive and 12 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.

Sell into Strength:

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 +$0.28 after Monday’s +$1.38 and Friday’s -$0.75 with a neutral pre-open indication

Blueprint Medicine (BPMC +$1.68 after Monday’s +$3.76, Friday’s -$2.06, Thursday’s +$0.52, Wednesday’s +$2.29 with a neutral pre-open indication

Ultragenyx Pharmaceuticals (RARE +$1.42 after Monday’s +$1.32, Friday’s -$1.01 after Thursday’s -$0.73, Wednesday’s +$1.80 with a neutral pre-open indication

Agenus (AGEN +$0.69 after Monday’s +$0.46, Friday’s +$0.34 after Thursday’s -$0.43 after Wednesday’s -$0.90 with a positive +$0.02 or +0.31% pre-open indication. I believe an offering is afoot!

Ionis Pharmaceuticals (IONS +$0.77 after Monday’s +$0.39 and Friday’s -$0.13 with a neutral pre-open indication.

CRISPR Therapeutics (CRSP +$0.75 after Monday’s +$0.61, Friday’s -$1.11 after Thursday’s +$0.60, Wednesday’s -$2.40 with a positive +$0.65 or +1.15% pre-open indication.

 

Negative Indications:

Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Vericel (VCEL +$1.04 after Monday’s +$1.64 with a neutral pre-open indication

 

The BOTTOM LINE:  I suspect sector momentum is fading.

Q2’s start is beginning to look like the beginning of Q1/24 …

 

An appropriate quote, “What normally happens is the market gets weak before earnings season because you just have economic and political news flow, which tends to be negative,” said Jay Hatfield, CEO at Infrastructure Capital Advisors. “It’s a typical earnings rally after a pullback when there was an information vacuum.”

 

As a quantamental “plotter” I equate myself to a quantitative analyst straddling fundamental stock picking to produce better results for investors. the term “quantamental,” blends the two styles setting forth my difference retail, trading and multiple investor categories.

 

Q1/24 Reporting Season:

  • Sage Therapeutics (SAGE) on 4/25;
  • MiMedx (MDXG) on 4/30,
  • Alnylam Pharmaceuticals (ALNY), AxoGen (AXGN) and Blueprint Medicine (BPMC) on Thursday, 5/2;
  • Ionis Pharmaceuticals (IONS) and Agenus (AGEN) on Tuesday, 5/7,

 

This week's calendar of economic data will feature Q1 GDP and the Fed's primary inflation gauge, the Personal Consumption Expenditures price index.

  • Based on the already reported inputs, the forthcoming data likely won't spell relief for the recent surge in interest rates. <IBD>
  • The GDP data, out Thursday, will provide the big picture. The first official estimate of real GDP is expected to show 2.1% growth in the first quarter, down from 3.4% in the fourth quarter.
  • Along with GDP, the Bureau of Economic Analysis reports the core PCE price index. Personal spending and outlays for March are due Friday.

 

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.
  • Never forget, one of my usual lines. “The sector is … still what it is, until it isn’t and even then, it doesn’t seem to be … that is after taking a deep breath and holding 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 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.