September 6, 2023 7:41am
It’s just too much of a mix of few ups, most downs and flats i.e., share pricing going where?
Pre-open Indications: 3 Positive and 4 Sell into Strength Indications
RMi defines the extenuating factors of share pricing; as 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 -0.19% or ( -65 points), S&P futures are DOWN -0.18% or (-8 points) and NASDAQ futures are DOWN -0.21% or (-32 points) early in the pre-open – so far
Stock futures fell Wednesday,
European stocks were lower,
Asia-Pacific markets were mixed.
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 …
The Dow, S&P and Nasdaq kicked-off the first trading session of a holiday shortened week in a dive into the abyss with the Dow closing DOWN -195.74 or -0.56%, as the S&P closed DOWN – 18.94 or -0.42% while the Nasdaq also closed DOWN -10.86 points or -0.08%.
Economic Data Docket: U.S. trade deficit and services industry data. A new beige book, which summarizes economic activity, will be released in afternoon.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.21% from 7.31%. Applications for a mortgage to purchase a home fell 2% for the week and were 28% lower than the same week one year ago.
Tuesday’s (9/5) RegMed Investors’ (RMi) closing bell: “deep dive to the downside. Coming off a mild winning week (3 of 5 sessions), investors have to contend with September’s seasonal effects, which historically marks the weakest month for equities.” … https://www.regmedinvestors.com/articles/13107
Ebb and flow:
Q3: September – 1 positive and 1 negative closes
· August – 9 positive and 14 negative closes
· July - 1 holiday, 12 positive and 8 negative close
Q2/23 -
· June -1 Holiday, 8 negative and 11 positive closes
· May – 10 negative and 12 positive closes
· April ended - 1 holiday, 8 positive close and 11 negative closes
Q1/23 –-
· March – ended with 10 positive and 13 negative closes
· February – 1 holiday, 2 vacation, 7 negative and 8 positive closes
· January – 2 holidays, 11 positive and 9 negative closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.
Positive Indication:
Tuesday’s closing price, Monday was a market holiday following aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed down -$0.83 after Friday’s +$3.35, Thursday’s +$0.66, Wednesday’s +$2.70, Tuesday’s +$2.80 and Monday’s +$2.40 with a positive +$3.81 or +1.90% aftermarket indication.
Prime Medicine (PRMC) closed down -$0.78 after Friday’s -$0.46 with a positive +$0.20 or +1.67% aftermarket indication.
Verve Therapeutics (VERV) closed down -$0.61 after Friday’s +$0.58 with a positive +$0.06 or +0.47% pre-open indication.
Sell into Strength:
Tuesday’s closing price, Monday was a market holiday following aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed up +$0.22 after Friday’s +$0.28 with a negative -$0.01 or -0.04% pre-open indication
Blueprint Medicine (BPMC closed down -$0.95 after Friday’s +$0.78 with a negative -$0.69 or -1.39% aftermarket indication.
Intellia Therapeutics (NTLA) closed up +$0.28 with a negative -$0.01 or -0.03% pre-open indication.
Sage Therapeutics (SAGE) closed up +$0.28 after Friday’s +$0.29 with a negative -$0.44 or -2.14% aftermarket 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!
Stocks looked set for another losing session on Wednesday, as lingering concerns about inflation spurred doubts the Fed will decide to cut interest rates any time soon.
Yesterday Tuesday, the Nasdaq sold off into the close, reversing lower. It ultimately closed down 0.1%.
As I have stated last week, it is STILL a “musical chairs” game! Remember, risk is riskier … except when it isn’t!
Investors crave share pricing explanations because they give us an illusion of portfolio control. I know what a company is supposed to look like, be like, and smell like to succeed; bottom line, investors own the right to exit or enter sector’s share pricing.
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.
Timing is everything, “I learned very early (as a military officer), if you weren’t 5 minutes early for a meeting, you were 10 minutes late – follow my lead by being EARLY in portfolio deliberations.”
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
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.
