December 5, 2023 8:11am

No redcoats for me, it’s the upside green jackets to finger the sell button at

Pre-open Indications: 2 Positive, 5 Negative and 2 Sell into Strength

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The pre-open Dow futures are DOWN -0.26% or (-93 points), the S&P is DOWN -0.37% or (-17 points) as the Nasdaq is DOWN -0.53% or (-83 points)

Stock futures are slipping on Tuesday,

European markets were mixed,

Asia-Pacific markets fell across the region.

 

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 …

Indexes slipped on Monday as … the Dow closed DOWN -41.06 points or -0.11%, the S&P closed DOWN -24.85 points or -0.54% while the Nasdaq closed DOWN -119.54 points or -0.84%.

Economic Data Docket: Job Openings and Labor Turnover Survey report

 

Monday, RegMed Investors (RMi) Closing Bell: “share pricing merry-go-round starts the week. Time to boogey, when portfolio rides start and stop while seeing some 52-week highs and dramatic upsides without catalysts.” …  https://www.regmedinvestors.com/articles/13231

 

Q4:  December – 1 positive close

  • November – 11 positive, 1 holiday and 10 negative closes
  • October – 1 sick day, 9 positive and 12 negative 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:

Monday’s closing price, some Friday, Thursday, Wednesday, Tuesday and Monday closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

CRISPR Therapeutics (CRSP) closed up +$2.86 after Friday’s +$1.92 after Thursday’s -$2.36, Wednesday’s -$1.57 after Tuesday’s -$0.95 and Monday’s +$1.64 with a positive +$0.49 or +0.69% pre-open indication.

Verve Therapeutics (VERV) closed up +$0.22 after Friday’s +$0.51 after closing its offering with a positive +$0.04 or +0.22% pre-open indication as “flippers” will take its toll?

 

Negative indications:

Monday’s closing price, some Friday, Thursday, Wednesday, Tuesday and Monday closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Alnylam Pharmaceuticals (ALNY) closed up +$1.36 after Friday’s +$3.16 after Thursday’s +$4.24, Wednesday’s +$2.65, Tuesday’s +$2.17 and Monday’s -$3.72 with a negative -$0,08 or -0.05% pre-open indication.

BioLife Solutions (BLFS) closed up +$0.62 after Friday’s +$0.88 after Thursday’s -$0.14, Wednesday’s -$0.24, Tuesday’s -$0.69 and Monday’s -$0.64 with a negative -$0.56or -4.94% aftermarket indication.

Caribou Biosciences (CRBU) closed up +$0.12 after Friday’s -$0.18, Thursday’s -$0.09, Wednesday’s +0.13 and last Tuesday’s +$0.08 following the previous Monday’s +$0.09 with a negative -$0.00 or -0% pre-open indication

Sage Therapeutics (SAGE) closed up +$0.45 after Friday’s +$0.81, Thursday’s +$0.10, Wednesday’s +$0.21 and last Tuesday’s +$0.16 following the previous Monday’s -$0.39 with a negative -$0.20 or -0.96% aftermarket indication

Verve Therapeutics (VERV) closed up +$0.22 after Friday’s +$0.51 after closing its offering with a positive +$0.04 or +0.22% aftermarket indication as “flippers” will take its toll?

 

Sell into Strength Indications:

Monday’s closing price, some Friday, Thursday, Wednesday, Tuesday and Monday closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Ultragenyx Pharmaceuticals (RARE) closed up +$1.06 after Friday’s +$1.31 after Thursday’s -$0.26, Wednesday’s +$0.65, Tuesday’s -$0.15 and Monday’s -$0.53 with a positive +$0.10 or +0.24% aftermarket indication

Blueprint Medicine (BPMC) closed up +$0.70 after Friday’s +$2.41 after Thursday’s +$1.16, Wednesday’s +$0.11, Tuesday’s -$0.75 and Monday’s +$0.67 with a positive +$0.28 or +0.39% pre-open indication.

 

The BOTTOM LINE:  I remain a skeptic, thus maintaining; investors should consider getting defensive…

  • If dead wood or too struggling share pricings are in the portfolio; especially those desperately needing a financing, lacking a partner, restructuring and needing a financing or just wallowing in the market …
  • Portfolio rebalancing might also involve taking some profits in some ascending cell and gene therapy equities.
  • It’s up to you to decide!
  • I am STILL waiting for catalysts to justify recent upside appreciation as some news sinks the share pricing other than algorithmic electronic trading!
  • I also DON’T believe totally we are finished with economic speedbumps and rate increases in THIS end of year and upcoming 2024 market.
  • Being that I have concerns over the resiliency of upside moves that usually end in downward sells as the risk/reward profile doesn’t always compel elevated and “dramatic” i.e., sudden equity pricing.
  • While optimism for December remains high, some analysts worry the run-up has been too big, too fast. <The Street>
  • Again, it might be prudent to harvest and cash in some chips following the past month’s dramatic rally.

Today’s relevancy from Monday’s session: On Monday …

  • The Dow moved down 0.1%, and S&P 500 dropped 0.5% as the Nasdaq declined 0.8%.
  • The 10-year U.S. Treasury yield ticked higher to 4.28%. Meanwhile, oil prices dropped, as West Texas Intermediate futures settled below $74 a barrel.
  • The Russell 2000 index of smaller companies rose 19.37 points, or 1% to 1,882.02.
  • “Attacks on commercial vessels in the Red Sea on Sunday risked increasing investor worries about the potential for a widening of the war between Israel and Hamas, potentially complicating the outlook for a rally that saw U.S. stocks crest a fresh closing high for the year last week.” <Reuters>

So, it's time to think ahead to December. It's usually an important month for the Nasdaq.

  • But, don’t FORGET portfolio tax selling and a bit of rebalancing
  • And then comes January and with worries that the U.S. economy will be slowing down, the potential for continued Middle East violence and, of course, the real prospect of bitterly contested elections across all of the United States. <The Street>

 

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.