August 29, 2024 8:12am

Investors should slowly add “exposure and risk” Thursday; post Labor Day upcoming investor conferences (9/4, Wells Fargo, Boston, Ma & 9/4, Morgan Stanley, NYC, NY) seem to always raise the flag of pricing

 

Economic data released lent support to the stock market. Weekly jobless claims fell from the prior week, further easing recession concerns. Q2 gross domestic product was revised higher to 3% growth from an initial 2.8% rate. First-time claims totaled 231,000 for the period, down 2,000 from the previous week and slightly above the 230 K estimate. Continuing claims, which run a week behind, totaled 1.868 M, an increase of 13,000 but slightly below the 1.87 M estimate.

Pre-open Indications: 6 Positive Indications

There is no breadline for share pricing and fact-based intelligence! A daily analytic read-out from RMi is constructed of signals thought-provoking 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!

 

Thursday: The pre-open Dow futures are UP +0.63% or (+261 points), the S&P futures are UP +0.25% or (+14 points) and the Nasdaq futures are UP +0.27% or (+50 points)

  • Stock futures rose Thursday, as investors looked to recover from declines,
  • European markets were higher,
  • Asia-Pacific markets mostly fell.

 

Henry’omics:

We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …

Wednesday: The Dow closed DOWN -159.08 points or -0.39%, the S&P closed DOWN -33.62 points or -0.60% while the Nasdaq closed DOWN -198.79 points or -1.12%

  • Wednesday’s advance/decline line ended with a negative close of 10 incliner, 23 decliners and 2 flats

Economic Data Docket:

  • 8:30 am               Initial jobless claims       
  • 8:30 am               Advanced U.S. trade balance in goods      July                      
  • 8:30 am               Advanced retail inventories          July                      
  • 8:30 am               Advanced wholesale inventories July         
  • 8:30 am               GDP (2nd revision) Q2                        
  • 10:00 am             Pending home sales      July                      
  • 3:30 pm               Atlanta Fed President Raphael Bostic speech       

 

Wednesday’s RegMed Investors (RMi) Closing bell: “sector weakens as confidence falters. How does the sector search for direction in a dry well?  Again, no pre-open post as market and sector couldn’t see beyond their eyelids; being too dependent bracing for Nvidia (NVDA) Day earning” … https://www.regmedinvestors.com/articles/13593

 

Q3/24:

  • August – I neutral, 8 positive and 11 negative closes
  • July: 1 market holiday. 1 day off, 6 negative, 1 neutral and 12 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.

 

Positive Indication:

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

Agenus (AGEN) closed down -$0.52 after Tuesday’s -$0.24, with a positive +$0.14 or +2.64% aftermarket.

Alnylam Pharmaceuticals (ALNY) closed up +$0.44, Tuesday’s +$11.22 and Monday’s -$3.50 with a positive +$5.29 or +1.88% aftermarket.

Intellia Therapeutics (NTLA) closed down -$0.59 after Tuesday’s -$0.64, Monday’s -$0.05, Friday’s +$0.75, Thursday’s -$0.61 and last Wednesday’s +$0.43 with a positive =$0.33 or +1.48% aftermarket

Mesoblast (MESO) closed up +$0.01 with earnings out in the open with a positive +$0.23 or +3.61% aftermarket

Regenxbio (RGNX) closed up +$0.15, Tuesday’s -$0.50 and Monday’s -$0.02 with a +$0.23 or +1.96% aftermarket.

Solid Biosciences (SLDB) closed down -$0.40 after Tuesday’s -$0.31, Monday’s -$0.10, Friday’s +$0.36 and last Thursday’s +$0.28 with a positive +$0.08 or +0.91% aftermarket

 

 

The BOTTOM LINE:   Weekly jobless claims due may revive the rate-cut debate, as could a reading on Q2/24 GDP.

The market is closely watching economic data for a steer on how fast and deep the Fed will lower interest rates, now that Fed Chair Powell has clearly flagged a cut is coming in September.

 

The last sessions of summer are this week, I’ve been enjoying a few doing some hard labor to keep prospective.

  • As Thursday and Friday evolve; I’d buy a few of them up and I’d up take some gains!

Q3 and August’s 4th and final days of week:

  • Wednesday ended with a negative close of 10 incliner, 23 decliners and 2 flats
  • Tuesday ended with a negative close of 8 incliners, 22 decliners and 5 flats
  • (8/26) Monday with a positive close of 18 incliners, 13 decliners and 4 flats
  • Friday ended with a positive close of 28 incliner, 5 decliners and 2 flats
  • Last Thursday ended with a negative close of 2 incliners, 29 decliners and 4 flats

 

A quote STILL to ponder, “the economy is "not out of the woods yet" regarding a recession. While the economy is slowing, the labor market is cooling, inflation is trending downward, and the Federal Reserve is expected to cut rates, the implications for individuals "depends on the phase of life you're in." < Providence Financial & Insurance Services President Anthony Saccaro>

 

I STILL advise investing in revenue driven, collaborative partnered and solid runway funded companies like

  • Alnylam Pharmaceuticals (ALNY),
  • CRISPR Therapeutics (CRSP),
  • Lenz Therapeutics (LENZ),
  • Ionis Pharmaceuticals (IONS) and
  • Vericel (VCEL)

… calling out the few 2027 runways.

 

Think a game of monopoly and follow RMi’s interchanges to gain profit moves or recoup losses – eat the popcorn and ponder ANY moves!

  • Short on words, long on being Judicious!

 

If I have learned one thing as a former research analyst in a venture and public fund, operating executive, x-military officer, x-FBI,  x-corporate manager and officer, an adjunct business school (MBA) professor now a journalist; my life and your portfolio are largely tied to knowledge of price movements and questioning pricing targets and just about … everything!

  • 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.

TRUST but, VERIFY!

 

Watch the “numbers, charts and indicators” measure the daily, weekly, and monthly charts to filter out or lessen the noise of back-and-forth share pricing from the sector rotation.

  • The short-term moving averages help you identify the momentum of the trend — that is, overbought or oversold

 

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.
  • 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 it’s 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.