October 3, 2024 8:40am

To the downside; so, show me some upside now!

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!

Never leave an investor uninform

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 DOWN -0.20% or (-86 points), the S&P futures are DOWN -0.13+% or (- points) and the Nasdaq futures are DOWN -0.21% or (-41 points)

  • Stock futures edged lower Thursday, 10/3
  • European markets moved lower
  • Most Asian Pacific markets traded higher as Hong Kong plunged

 

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 UP +39.55 points or +0.09%, the S&P closed UP +0.79 points or +0.01% while the Nasdaq closed UP +14.76 points or +0.08%

  • Wednesday’s advance/decline line ended with a negative close at the close of 15 incliner, 17 decliners and 3 flats

Economic Data Docket: Readings on weekly jobless claims and the services sector due Thursday will be weighed for more clues.

  • Challenger jobs cuts, year-over-year, September, (+1% prior);
  • Initial jobless claims, week ending September 28 (218,000 prior);
  • S&P Global US services PMI, September final (55.4 prior);
  • S&P Global US services PMI, September final (55.4 prior);
  • ISM services, September (51.5 expected, 51.5 prior);
  • Factory orders, August (+0.1% expected, +5% prior);
  • Durable goods orders, August Final (0% prior)

 

Wednesday’s RegMed Investors (RMi) Closing bell: “cell and gene therapy sector investors need to hold. Not to get ahead of themselves as far as what and when confidence returns to “our” universe. There will be a bounce before earnings season initiates, then it might be time – when LPS (loss-per-share) estimates are beat or just “meat” for consensus and runway expectations. Debt and ATM usage is a concern for me as well as the usual – the ability to finance!” … https://www.regmedinvestors.com/articles/13639

 

Q43/24: 2 negative closes

Q3/24:

  • September – 10 positive and 10 negative close
  • August – I neutral, 10 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” looking toward investment conferences … 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.

Better part of valor to not lead any investor to temptation; yet again, I am passing on forecasting the daily indications as to Thursday’s expectation after all the negativity on Wednesday while the aftermarket fluctuated and the pre-open waits for the open …  it is still a mix of ups, downs and just unknowns.

 

The BOTTOM LINE:  Roll some dice, there are a few BUYs in the sector that nis OVERSOLD!

The cell and gene therapy sector edged lower on Wednesday as the market edged higher while on Tuesday crashed after an attack on Israel; October’s beginning.

  • Events of the past 2 sessions have a rapid impact on markets, so wait-and-see adding that "things can turn on a dime; also, too many unforeseen events will keep traders on the edge and negativity views and it's NOT TOO smart to BUY/SELL portfolios in a meaningful way.

 

As I wrote last night: “One thought and warning ... If Israel hit/bomb the Iranian oil fields - all market BETS are ... OFF!

“Love the quote: "Is it time to sell Rosh Hashanah, buy Yom Kippur?"

  • Investors looking for a strategy to playing the market over the next 10 days may want to take a cue from an age-old Wall Street adage.
  • The saying — known as sell Rosh Hashanah, buy Yom Kippur — suggests that investors should sell into the Jewish new year and buy into the day of atonement.
  • The start of the Jewish new year begins Wednesday evening, with Yom Kippur starting Oct. 11. <Samantha Subin – CNBC>

 

Ranking the Month of October and Q4/24's beginning:

  • 10/1 – Tuesday’s advance/decline line ended with a negative close at the close of 5 incliner, 27 decliners and 3 flats
  • 10/2 - Wednesday’s advance/decline line ended with a negative close at the close of 15 incliner, 17 decliners and 3 flats

 

Although, more weakness could lie ahead with more wild swings like those seen over the past 2 months.

  • Moving forward through September, October and a few weeks of November, I believe the cell and gene therapy sector equities could be a bit rocky as Q3 LPS (loss-per-share) earnings releases step to bat.
  • I am STILL wondering if … sentiment is moribund.
  • Keep overall exposure low and be ready to exit quickly.
  • As I have joked, “uncle algo and his electronic trading dwarfs” come to roost” until they fly away!

 

Also, the closer we come to the U.S. presidential election; volatility could inject by the VIX (fear gauge) stimulating risk.

 

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.