October 7, 2024 8:04am
Friday’s bounce erased many losses seen in recent days; however, lean pickings going forward
Sector sentiment offset by confidence can be unpredictable; a bad economic report, a geopolitical incident, or Fed decision can swing pricing from directionally in a blink of an eye
Pre-open Indications: 2 Sell into Strength, 1 Positive and 2 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!
Monday: The pre-open Dow futures are DOWN -0.41% or (-174 points), the S&P futures are DOWN -0.46% or (-26 points) and the Nasdaq futures are DOWN -0.64% or (-129 points)
- Stock futures slipped on Monday, 10/7/24
- European markets turn lower,
- Asia-Pacific markets were mostly higher
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 UP +341.16 points or +0.81%, the S&P closed UP +51.13 points or +0.90% while the Nasdaq closed UP +219.37 points or +1.22%
- Friday’s advance/decline line ended with a positive close at the close of 25 incliner, 8 decliners and 2 flats
Economic Data Docket: barely but, talking heads
- 1:00 pm Fed Governor Michelle Bowman speaks
- 3:00 pm Consumer credit
- 6:30 pm St. Louis Fed President Alberto Musalem speaks
Friday’s RegMed Investors (RMi) Closing bell: “attention returned to the oversold cell and gene therapy sector. Early gains set the course, clawing back some of their losses from last and earlier in the week. Markets are experiencing a period of heightened volatility, driven by a variety of factors including mixed messages of government funding of the Hurricane Helene, the upcoming US presidential election, and escalating Middle East tensions. As Friday’s “non-farm” report capped a week of mostly encouraging data
Q43/24: 1 positive and 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:
Friday, Thursday, Wednesday, Tuesday, Monday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
LENZ Therapeutics (LENZ) closed UP +$3.30 after Thursday’s -$0.41, Wednesday’s +$0.09, Tuesday’s -$0.94 and Monday’s -$0.30 with a neutral pre-market
Mesoblast (MESO) closed up +$1.26 after Thursday’s +$0.79, Wednesday’s +$0.49, Tuesday’s +$0.10 after Monday’s +$0.57 with a neutral $0.00 aftermarket
Positive Indication:
Friday, Thursday, Wednesday, Tuesday, Monday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Voyager Therapeutics (VYGR) up +$1.05 with a positive +0.08 or 1.14% pre-market
Negative Indications:
Friday, Thursday, Wednesday, Tuesday, Monday closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
CRISPR Therapeutics (CRSP) closed up +$0.47 after Thursday’s -$0.81 after Wednesday’s +$0.13, Tuesday’s -$1.40 and Monday’s -$0.34 with a negative -$0.36 or -0.79% aftermarket
Intellia Therapeutics (NTLA) closed up +$0.34 with a negative -$0.07 or -0.39% aftermarket
The BOTTOM LINE: US stock futures retreated on Monday as investors overhauled their views on interest-rate cuts after a blowout jobs report, ahead of a week of key inflation data and the start of earnings season.
- Take your winnings … “while this is an election year, politics isn't the only place where you can find an October surprise.”
Friday, I wrote, “Roll some dice, there are a few BUYs in the sector that is OVERSOLD!
- The cell and gene therapy sector edged jumped higher Friday after diving lower on Thursday, Wednesday and Tuesday; October’s beginning.
As I wrote Thursday: “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:
- 10/4 - Friday’s advance/decline line ended with a positive close at the close of 25 incliner, 8 decliners and 2 flats
- 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.
