September 5, 2023 7:43am
Historically the weakest month for equities, and investors will be sifting through economic reports including fresh inflation data ahead of the Fed’s September policy meeting
Pre-open Indications: 1 Positive and 5 Sell into Strength Indications
News: Beam Therapeutics (BEAM closed up Friday +$0.28 with a positive +$0.19 pre-open) first patient was treated with BEAM-201, a quadruplex-edited allogeneic CAR-T cell investigational therapy. BEAM-201 is being evaluated in a P1/2 clinical study for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia/T-cell lymphoblastic lymphoma (T-ALL/T-LL), a severe disease affecting children and adults.
What do we need to know as week begins, RMi defines the extenuating factors of share pricing.
Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors!
Never leave an investor uninformed!
8:00 a.m. edition
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session. My interpretation of the morning’s numbers is written to be informative; it’s built on what will happen behind the headlines today, not tomorrow or yesterday
Dow futures are DOWN -0.08% or (-30 points), S&P futures are DOWN -0.20% or (-9 points) and NASDAQ futures are DOWN -0.40% or (-62 points) early in the pre-open – so far
Stock futures slipped Tuesday, 9/5/23,
European stock markets fell,
Asia-Pacific markets also fell.
Henry’omics:
We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …
Friday indexes were mixed, Monday was a holiday as the Dow closed UP +115.80 or +0.33%, the S&P closed UP +8.11 or +0.18% while the Nasdaq closed barely DOWN -3.15 points or -0.02%
Tuesday’s mornings’ futures follow the Dow and the Nasdaq notching their best performances since July.
Friday’s (9/1) RegMed Investors’ (RMi) closing bell: “September’s first session, a positive close. As algos and electronic trading recognized/grabbed the disparities in share pricing; investors enjoyed the ride.” … https://www.regmedinvestors.com/articles/13105
Ebb and flow:
Q3: September – first session
· August – 9 positive and 14 negative closes
· July - 1 holiday, 12 positive and 8 negative close
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
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
Friday’s closing price, Monday was a market holiday following aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed up +$0.28 Friday with news (in title) with a positive +$0.19 or +0.81% pre-open indication.
Sell into Strength:
Friday’s closing price, Monday was a market holiday following aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed up Friday +$3.35 after Thursday’s +$0.66, Wednesday’s +$2.70, Tuesday’s +$2.80 and Monday’s +$2.40 with no aftermarket or pre-open indication.
Vericel (VCEL) closed up Friday+$1.05 after Thursday’s +$0.27, Wednesday’s +$0.28, Tuesday’s +$0.22 and Monday’s -$0.42 with no aftermarket or pre-open indication
BioLife Solutions (BLFS) closed up +$0.19 after Wednesday’s +$0.34 and Tuesday’s +$1.54 with a negative -$0.06 or -0.45% aftermarket indication.
Regenxbio (RGNX) closed up Friday +$0.43 after Thursday’s -$0.72, Wednesday’s -$0.03, Tuesday’s +$0.02 and Monday’s +$0.26 with no aftermarket or pre-open indication
The BOTTOM LINE:
I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all, as I try to keep it simple and short!
My version of the morning’s “indications” is about what you need to know; it’s what could happen or materialize after the opening and what might happen during the session.
Today, September 5th starts a new week post a holiday Monday and could be an extension of August’s upside moratorium.
Investors will kick-off the holiday-shortened week focused on global growth prospects, and U.S. resilience, heading into the historically difficult September trading month.
· The weakness overseas contrasts sharply with solid, but softening, growth prospects in the U.S., following data from the Labor Department Friday showing a stronger-than-expected 187,000 new jobs were created last month even as the headline unemployment rate leaped to a multi-month high of 3.8%.
· U.S. equity futures edged lower Tuesday, while the dollar added to gains against its global peers and Treasury yields nudged higher, focused on both domestic and overseas growth prospects. <The Street”
The stock market rally is doing everything to help investors. Tuesday's FTD, coinciding with the indexes reclaiming key levels, was a clear signal to step up exposure.
· With the market generally trending up the rest of the week, more buying opportunities have appeared each day. But it hasn't been a flood, reinforcing the idea that investors should pick up exposure gradually day by day. <IBD>
A lot of words … from “others” … yet: “Don't act like the sector is in an uptrend until the sector is actually in an uptrend”.
Where and when is value creation as we have slipped into September and the end of Q3??
Reiterating, “I am for a number of exits … with investors holding on to the railings for new reads on the well-being of the US economy as a dismal August draw to a close.
And, I am more frequently right than consequentially wrong
As I have stated earlier this week, I am NOT confident that some cell and gene therapy sector equities can continue ascending to the upside; unfortunately, it is STILL a “musical chairs” game!
Risk is riskier … except when it isn’t! When is that?
There's ALSO nothing wrong with standing pat in the short run, holding on to sizable existing exposure.
I hate to be so 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!
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.
