June 17, 2024 8:09am
JUNE’s trend so far is an admission that the sector is without pricing sustainability suppressing a value directional
Pre-open Indications: 2 Positive, 4 Negative and 1 Sell into Strength Indications
A daily analytic read-out from RMi is constructed of specific warnings challenging share pricing situations
Never leave an investor uninformed
Remember that overnight and pre-open actions’ futures and markets doesn't necessarily translate into actual trading in today’s market session.
My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday
Monday: The pre-open Dow futures are DOWN -0.15% or (-60 points), the S&P futures are DOWN --0.01% or (-1 points) as the Nasdaq futures are UP +0.20% or (+38 points)
Stock futures were little changed on Monday morning as traders start a holiday-shortened week,
European markets moved lower,
Asia-Pacific markets were mostly lower
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
Friday: The Dow closed DOWN -57.94 points or -0.15%, the S&P closed DOWN -2.14 points or -0.04% while the Nasdaq closed UP +21.32 points or +0.12%
While, the Nasdaq ticked higher on Friday to close at a record for the 5th straight session.
Economic Data Docket: Empire manufacturing, June (-13 expected, -15.6 prior)
Last week in the cell and gene therapy of my covered (35) companies:
- (6/14) Friday closed positive
- Thursday closed negative
- Wednesday closed positive
- Tuesday closed negative
- (6/10) Monday closed positive
Previous week:
- (6/7) Friday closed negative
- Thursday closed negative
- Wednesday closed positive
- Tuesday closed negative
- (6/3) Monday closed positive
Q2/24:
June – 4 positive and 6 negative closes
- May – 1 holiday, 11 positive and 11 negative closes
- April - 16 negative and 6 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.
Insight is about understanding perception
Sell into Strength Indication:
Friday, Thursday, Wednesday, Tuesday and last Monday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed up +$0.34 after Thursday’s +$1.01, Wednesday’s +$2.61, Tuesday’s +$2.96 and Monday’s +$0.69 with a positive +$1.61 or +1.% pre-open
Positive Indications:
Friday, Thursday, Wednesday, Tuesday and last Monday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Ionis Pharmaceuticals (IONS) closed down -$0.47 after Thursday’s -$0.38 and Wednesday’s +$1.81 with a positive +$0.40 or +0.98% pre-open.
Vericel (VCEL) closed down -$1.06 after Thursday’s -$0.17 with a neutral pre-open
Negative Indications:
Friday, Thursday, Wednesday, Tuesday and last Monday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Agenus (AGEN) closed down -$0.54 after Thursday’s -$0.92 with a neutral pre-open.
Beam Therapeutics (BEAM) closed down -$0.37 after Thursday’s -$0.82, Wednesday’s +$1.81, Tuesday’s +$0.46 and Monday’s +$1.19 with a neutral pre-open
BioLife Solutions (BLFS) closed down -$0.34 after Thursday’s -$1.23 with a negative -$0.06 or -0.30% pre-open.
Sage Therapeutics (SAGE) closed up +$0.50 after Thursday’s +$0.65 with a neutral pre-open
The BOTTOM LINE: I think Aristotle may have been the first to crystallize the fallacies (in writing at least) of many situations we are trying to deal with. Ad Verecundiam (Appeal to Authority) is certainly one fallacy, Ad Metum (Appeal to Fear) is the answer to the argument!
A quieter week ahead will greet investors, with no major corporate news expected and the May retail sales report leading the economic calendar. Updates on activity in the manufacturing and services, sectors as well as weekly jobless claims, will also be in focus. <IBD>
A key reading on how consumers are holding up amid higher rates is expected on Tuesday with the monthly retail sales report for May.
Markets will be closed on Wednesday for the Juneteenth holiday.
The fear among those economists is that there are already signs of softening in the economy, like a pickup in the unemployment rate, that could rapidly worsen if the Fed holds rates high for too long. That's why investors will closely watch the initial weekly jobless claims release on Thursday morning. In the most recent release last week, weekly jobless claims unexpectedly hit 242,000, marking a 10-month high. <IBD>
“The reality is that, even in these bull markets, there are going to be days where you take a pause and where people take some gains. We’ve had such a strong run, especially coming off of soft PPIs and soft CPI … I think it’s a pretty, pretty natural place to take a pause after a pretty aggressive rally.” <Ross Mayfield, an investment strategy analyst at Baird>
2nd week of June, 4th session … the cell and gene therapy sector experienced another negative close on Friday after Thursday’s negative close following Wednesday ascended positively while Tuesday drifted lower, retreating from Monday’s highs.
- The previous week: the cell and gene therapy sector, ended Friday and Thursday ended in the toilet after Wednesday’s positive close Tuesday negative close following Monday’s positive close.
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.
