October 4, 2024 8:15am
As growing fears tied to the Middle East and economic releases pushed down sector ownership
September’s jobs picture is expected to look a lot like August’s — a gradual slowdown in hiring and a modest increase in wages.
Pre-open Indications: 1 Sell into Strength, 3 Positive and 1 Negative Indications
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!
Friday: The pre-open Dow futures are UP +0.17% or (+70 points), the S&P futures are UP +0.27% or (+15 points) and the Nasdaq futures are UP +0.36% or (+73 points)
U.S. stock futures rose Friday, 8/3/24,
European markets moved slightly higher,
Asia-Pacific markets traded mixed on Friday, 8/4/24
Henry’omics: We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies
Thursday: The Dow closed DOWN -184.93 points or -0.44%, the S&P closed DOWN -9.58 points or -0.17% while the Nasdaq closed DOWN -5.65 points or -0.04%
- Thursday’s advance/decline line ended with a negative close at the close of 12 incliner, 21 decliners and 2 flats
With Thursday’s moves, the Dow and S&P 500 have each dropped 0.7%, while the Nasdaq is poised to finish 1.1% lower.
Economic Data Docket: Nonfarm payrolls, September (+130,000 expected, +142,000 prior); Unemployment rate, September (4.2% expected, 4.2% previously); Average hourly earnings, month over month, September (+0.3% expected, +0.4% prior); Average hourly earnings, year over year, September (+3.7% expected, +3.8% prior); Average weekly hours worked, September (34.3 expected, 34.3 prior); Labor force participation rate, September (62.7% expected, 62.7% previously);
Thursday’s RegMed Investors (RMi) Closing bell: ““This a.m.’s calling-out the downside, didn’t work. Even “uncle algo and his electronic dwarfs” didn’t visit. After big drops (4 sessions includes last Friday) in the cell and gene therapy sector, I think investors will get a little comfortable with “some” BUY positions before the multiple week’s away earnings releases. Markets are experiencing a period of heightened volatility, driven by a variety of factors including Hurricane Helene, the upcoming US presidential election, and escalating Middle East tensions.” … https://www.regmedinvestors.com/articles/1364
Q4/24: 3 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.
Sell into Strength:
Thursday, Wednesday, Tuesday, Monday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Mesoblast (MESO) closed +$0.79 after Wednesday’s +$0.49 after Tuesday’s +$0.10 after Monday’s +$0.57 with a neutral $0.00 aftermarket
Positive Indication:
Thursday, Wednesday, Tuesday, Monday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Agenus (AGEN closed down -$0.29 with a positive +$0.08 or +1.71% aftermarket
Beam Therapeutics (BEAM) closed down -$0.56 after Wednesday’s +$0.09 after Tuesday’s -$1.09 after Monday’s -$0.55 with a positive +$0.06 or +0.26% aftermarket.
CRISPR Therapeutics (CRSP) closed down -$0.81 after Wednesday’s +$0.13, Tuesday’s -$1.40 and Monday’s -$0.34 with a positive +$1.10 or +2.45% aftermarket
Negative Indications:
Thursday, Wednesday, Tuesday, Monday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
LENZ Therapeutics (LENZ) closed -$0.41 after Wednesday’s +$0.09 after Tuesday’s -$0.94 after Monday’s -$0.30 with a negative -$0.06 or -0.27%
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 Thursday, Wednesday and Tuesday; October’s beginning.
As I wrote last night: “One thought and warning ... If Israel hit/bomb the Iranian oil fields - all market BETS are ... OFF!
Ranking the Month of October and Q4/24:
- 10/3 - Thursday’s advance/decline line ended with a negative close at the close of 12 incliner, 21 decliners and 2 flats
- 10/2 - Wednesday’s advance/decline line ended with a negative close at the close of 15 incliner, 17 decliners and 3 flats
- 10/1 – Tuesday’s advance/decline line ended with a negative close at the close of 5 incliner, 27 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.
