Archive for Opinions – Page 2

VIX Warns Of Imminent Market Correction

By TheTechnicalTraders.com

The VIX is warning that a market peak may be setting up in the global markets and that investors should be cautious of the extremely low price in the VIX.  These extremely low prices in the VIX are typically followed by some type of increased volatility in the markets.

The US Federal Reserve continues to push an easy money policy and has recently begun acquiring more dept allowing a deeper move towards a Quantitative Easing stance.  This move, along with investor confidence in the US markets, has prompted early warning signs that the market has reached near extreme levels/peaks. You can get all of my trade ideas by opting into my free market trend signals newsletter.

Vix Value Drops Before Monthly Expiration

When the VIX falls to levels below 12~13, this typically very low level is usually associated with an extreme peak in price.  Throughout history, after the VIX has collapsed to these types of low price levels, the markets have a tendency to revert/correct in ranges that are typically in excess of 3.5% to 5.5%. In some cases, these corrections have been as large as 11% to 18% or more.

Current Continous VIX Price Chart

The current VIX level, near 12, is near the lowest historical levels of the past 12 months.  Every time the VIX has fallen to near these levels, a peak in price has set up within just a few days potentially.  Each time this setup has occurred, the price has rotated/corrected downward by at least 5.5%.  Is that about to happen again in the US markets?

Custom Market Cap Index

Our custom Market Cap Index is also suggesting a market peak has setup and that price may likely revert to lower levels. Historically, when the price reaches these extreme price ranges, a rotation/reversion price event takes place.  We believe a price reversion may be setting up in the US/Global markets that traders may not be prepared for.  The current rally in the US stock market suggests a broader market rotation may take place.  This suggests a deeper reversion event may be setting up.

Last week I talked about the 3-year record high outflows in the GLD gold bullion ETF and how it’s warning us that investors are not fearful of falling stock prices. This along with the vix, and our custom index paint a clear contrarian signal that a top is near!

Concluding Thoughts:

As we near the end of 2019, the current bullish price trend may come to a dramatic end as the VIX charts and our custom Index charts suggest the US/Global markets may have reached levels that support a price rotation/reversion event may be setting up.  Traders need to be prepared for the risks associated with such an event and plan for extended risks.

If you find this type of analysis interesting be sure to video my website to learn more about how you take full advantage of this analysis every week at www.TheTechnicalTraders.com

Chris Vermeulen TheTechnicalTraders.com

 

Record Gold ETF Outflow

By TheTechnicalTraders.com

If you want to earn 34%-50% a year return on your trading account with very few ETF trades then join me at the Wealth Building Newsletter today!

Chris Vermeulen

TheTechnicalTraders.com

 

What happens To The Global Economy If Oil Collapses Below $40 – Part II

By TheTechnicalTraders.com

In the first part of this research article, we shared our ADL predictive modeling research from July 10th, 2019 where we suggested that Oil prices would begin to collapse to levels near, or below, $40 throughout November and December of 2019.  Our ADL modeling system suggests that oil prices may continue lower well into early 2020 where the price is expected to target $25 to $30 in February~April 2020.

We believe this type of global commodity price collapse, essentially collapse in oil revenues for many global nations could present a very real crisis in our future.  Most of the oil-producing nations rely on stable oil prices to supply much-needed revenues/income to support current and future operations and essential services. If oil prices collapse to levels below $40, this decrease would represent a -40%, or more, collapse in oil revenues for these nations.  If oil prices fall to levels below $30, this would represent a -55%, or more, decrease in expected revenues.

You can get my daily market analysis articles and trade ideas by opting into my free market trend signals newsletter.

We believe the ADL predictive modeling systems results, if accurate, represents a very real potential that the global capital markets and stock market may experience a major crisis event before the end of 2020.  This type of commodity collapse happened once before in history – nearly 10 years before the 1929 US stock market collapse and the slide in commodity prices continued in 1930 and beyond as an extended economic contraction pushed the US into an economic depression.

Producer Price Index for All Commodities from 1914 to 1933

Take a look at these charts for comparison.  The first is a chart of the Producer Price Index for All Commodities from 1914 to 1933. Pay close attention to how commodity prices collapsed in 1921, approximately 9 to 10 years before the US stock market peak (1929) and commodities continue to slide lower.  This collapse in commodity prices relates to the consumer, agriculture, and industrial demand after WWI and setup a shift within the capital markets more focused on stock market speculation. The period between 1923 and 1929 resulted in a complete shift in the capital markets where farms, agriculture, and manufacturing levels decreased while urban areas, cities, and the stock market flourished – until it ended in 1929. (Source: https://eh.net/encyclopedia)

Monthly Crude Oil chart

Now, take a look at this Monthly Crude Oil chart which highlights very similar types of price patterns over the span of about 10 years.  This strangely similar chart, in combination with the strangely similar set of circumstances related to farm, agriculture, and manufacturing as well as the shift of capital towards speculation in the US/Global stock market may be setting up another type of 1929 stock market peak event.

Assets in Money Market Accounts

The shift in the capital markets is very clearly seen in the following chart – the Assets in Money Market Accounts chart.  One can clearly see that after the credit crisis in 2008-09, investors were not willing to participate in the Money Markets at levels prior to 2008.  In fact, for the entire period of 2009 through 2017, global investors stayed away from Money Markets and only recently began pouring capital back into the markets near late 2017 – when confidence increased.

Yet, this chart also shows a very clear “shift” in capital engagement which is very similar to what happened in the late 1920s.  At a time when manufacturing, agriculture and farm foreclosures were haunting the markets, investors poured capital in the stock market and speculative investments because these instruments were ripe with opportunity. The rally in the US stock market in the late 1920s became an opportunity that no one could resist.  Is the same thing happening right now in the US stock market?  Has a capital shift taken place that has global investors bumbling their way into the US stock market while trying to avoid/ignore obvious risks in local markets, manufacturing, and the global economy?

We believe the evidence is very clear for any investor willing to pull off the “bubble goggles” and take a good hard look at where we really are in the economic cycle.  Unless something dramatic changes in relation to global economic growth, credit market expectations and consumer economic participation, it seems obvious that we are inching our way towards a global stock market peak just like we did in 1929.

Even if a trade deal between the US and China were to happen today and eliminate all trade tariffs, would this change anything or would this simply pour fuel onto the “capital shift” fire that is already taking place with speculation reaching frothy levels?

Skilled technical traders should pay very close attention to Oil Prices and global economic factors while this “zombie-land melt-up” continues.  We believe this is not a healthy rally in the US stock market currently and is more similar to what happened in the last 1920s than anything we’ve seen over the past 80+ years.

In Part III of this research article, we’ll highlight some of the recent economic news that helps to further identify the complexity that makes up the current global stock market  “zombie-land”.

If you want to earn 34%-50% a year return on your trading account with very few ETF trades then join me at the Wealth Building Newsletter today!

Chris Vermeulen – TheTechnicalTraders.com

 

 

Plus Therapeutics Shares Trade Higher on Q3 Earnings and Business Restructuring

By The Life Science Report

Source: Streetwise Reports   11/15/2019

Plus Therapeutics shares opened 25% higher today after the firm reported Q3/19 financial and business results. In the most recent quarter, the company completed the change of its name, relocated its headquarters to Austin, and raised $15 million for R&D and working capital.

Late yesterday afternoon, Austin, Tex. based clinical-stage pharmaceutical company Plus Therapeutics Inc. (PSTV:NASDAQ), which is focused on developing treatments for patients battling cancer, announced financial and business results for the third quarter of 2019.

The firm reported that contract revenues in Q3/19 were $4.8 million, compared to $0.5 million for Q3/18. The company further noted that it “received notification that a $4.6 million payment from the U.S. Department of Health and Human Services / Office of the Assistant Secretary for Preparedness and Response / Biomedical Advanced Research and Development Authority (“BARDA”) to reimburse the Company for work performed during fiscal years 2012 through 2019, will be paid in Q4/19.”

For Q3/19, the company reported that net income from continuing operations was $0.526 million, or $0.03 per share., compared to a loss of ($1.396 million) or ($22.27) per share in Q3/18. The firm additionally advised that operating cash burn for the quarter was approximately $2.1 million, and that the firm ended the quarter with approximately $16.8 million of cash and cash equivalents.

Dr. Marc Hedrick, president and CEO of Plus Therapeutics, commented, “Plus Therapeutics emerges from the third quarter with the financial strength, development focus and cost structure to achieve long-term viability and growth…We believe our company is now poised to aggressively move its pipeline through important milestones and to eventual market leadership. We believe that our pipeline has the potential to produce drugs that may provide tremendous benefits to patients and shareholders alike.”

The company stated that it now is “concentrating its development in ways that can leverage the U.S. FDA’s accelerated regulatory pathways and enable it to apply its in-house expertise in nanoparticle drug design, complex formulation, and drug manufacturing to scale-up.”

The firm announced that “its initial development focus will be on DocePLUS (formerly ATI-1123), a complex, injectable, patented, albumin-stabilized pegylated liposomal docetaxel, for which a U.S. Phase 1 clinical trial has been completed and published. The company previously announced that it received feedback from the U.S. FDA that a 505(b)(2) new drug application appears to be an acceptable regulatory approach for DocePLUS.” Docetaxel was approved by the FDA in 1999 and is commonly used for treating cancers of the breast, head, neck, stomach, prostate and lung.

Plus Therapeutics, formerly known as Cytori Therapeutics Inc., is a clinical-stage pharmaceutical company focused on the discovery, development, and manufacturing scale up of complex and innovative treatments for patients battling cancer and other life-threatening diseases. This year the company changed its name and relocated its headquarters from San Diego, Calif. to Austin, Texas. The firm notes that it maintained its manufacturing facility in San Antonio, Tex. and that “the move to Austin was driven in part by significant incentives offered by the State of Texas, whose Cancer Prevention & Research Institute is second only to the federal government in public funding of cancer research”. The company also recently completed an underwritten public offering with gross proceeds of approximately $15 million which it intends to use for research and development, working capital, potential debt restructuring and general corporate purposes.

Plus Therapeutics began the day with a market capitalization of approximately $8.2 million with about 3.443 million shares outstanding. PSTV shares opened nearly 26% higher today at $3.01 (+$0.62, +25.94%) over yesterday’s $2.39 closing price. The stock has traded today on extremely high relative volume between $2.65 to $3.38 per share and is currently trading at $2.67 (+$0.28, +11.72%).

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Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

( Companies Mentioned: PSTV:NASDAQ,
)

Looking for Gold in Elephant Country

By The Gold Report

Source: Streetwise Reports   11/14/2019

As Newrange Gold shifts its focus to Nevada, it is monetizing its Colombian properties to fund exploration.

Newrange Gold Corp.’s (NRG:TSX.V; NRGOF:OTC) focus is squarely on Nevada, where it acquired the high-grade Pamlico gold project in 2016. The company is in the process of monetizing its Colombian assets to fund Pamlico’s exploration and recently announced the sale of its Yarumalito gold project to GoldMining Inc., while retaining a 1% net smelter returns royalty.

“This now paves the way for us to conclude the sale of Newrange’s subsidiary and remaining projects in Colombia, Newrange CEO Bob Archer said. “The combined proceeds from both transactions will provide significant non-dilutive funds for exploration on the company’s flagship Pamlico Project in Nevada.”

The company expects the sale of its subsidiary and Yarumalito to bring in between $2 and $3 million—both deals are a mix of cash and shares—over the course of the next 12 to 18 months.

The company made its move into Nevada, where Robert Carrington, the co-founder and chairman of Newrange, who is Nevada born and raised, was able to option the Pamlico project through a family connection. “It encompasses an old mining district that goes back to the late 1800s. At that time, it was known as one of the highest-grade gold districts in Nevada,” Archer explained.

Pamlico is on the Walker Lane Trend, a northwest-southeast oriented trend that is home of many historical and current gold and silver mines, and has produced more than 53 million ounces of gold and 519 million ounces of silver. Nevada is known as “Elephant Country.” The state is the world’s fifth largest gold producer and rated the top jurisdiction for investment on the Fraser Institute’s 2018 survey of mining companies. Nevada produced 5.6 million ounces of gold in 2018 and 169 million ounces from 1835 until the present.

Newrange map

Newrange’s Pamlico property has been in private hands since 1896, passing through three families during this time, and has been optioned out only twice, so the property has seen very little modern-day exploration.

“We have realized that the very high-grade veins and fractures are surrounded by lower grade halos of gold mineralization, and you end up with larger pockets of mineralization that are at surface and amenable to open-pit mining,” Archer said. “Taking it one step further, preliminary metallurgy discovered that the mineralization is also very amenable to heap leaching. So with low-cost mining, low-cost processing and being close to surface, we can approach this project from a very different perspective than others might have in the past.”

The company is now using a new technology, a handheld laser scanner called LIDAR, to survey the inner workings of the old mine tunnels, enabling the company to plot three dimensional models and maps of the underground workings, as well as collect spatially accurate assay data that can be used as part of an NI 43-101 resource. “It’s a very important exploration tool for us and very cost effective in that instead of having to spend hundreds of thousands of dollars or even millions of dollars on drilling, we can go into the mine tunnels and sample them like horizontal drill holes,” Archer explained.

The company has released exploration results for the Good Hope Mine, confirming continuous gold and silver mineralization between the 5570 and 5518 levels of the mine. “Results of sampling in stopes and raises between the two levels show a higher-grade core of mineralization averaging 4.08 grams gold per metric tonne (g/t Au) and 51.5 grams silver per metric tonne (g/t Ag) ranging from 0.3 to 1.0 meter wide, with an average width of 0.7 meters, within a larger mineralized envelope that averages 1.2 g/t Au and 21.8 g/t Ag,” the company reported.

Newrange plans on doing an IP (Induced Polarization geophysics) survey, as well as continuing underground surveying, mapping and sampling.

Archer points out that the old mine tunnels were built into the hills because of ease of access, but there hasn’t been anything done in the little valleys and gulches in between those hills. “One of the zones that has been found in one of those valleys was a blind discovery and never mined by the old-timers. We will be looking for more of those zones.”

The main trend is about 1.5 km by 1 km. “If our exploration model holds true and we are looking at pockets of mineralization in the area, we could end up with an open pit 1.5 km by 1 km and selectively mine these pockets. That’s the theory that we are trying to prove up,” Archer explained.

Newrange has about 97.5 million shares and outstanding, 117 million fully diluted. Insiders own 9%.

Technical analyst Clive Maund wrote on November 12, “This looks like an excellent time to take positions in Newrange Gold. . . The company is continuing to advance towards its objectives in a satisfactory manner and so the stock should do well once gold takes off on the next leg of its new bull market.”

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Disclosure:
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Newrange Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Newrange Gold, a company mentioned in this article.

Additional Disclosures

Clive Maund does not own shares of Newrange Gold and neither he nor his company has been paid by Newrange Gold.

( Companies Mentioned: NRG:TSX.V; NRGOF:OTC,
)

Sales of Antibiotic Alternative for Livestock Feed Accelerate in Asia

By The Life Science Report

Source: Streetwise Reports   11/15/2019

With antibiotic resistance a major health issue, the search is on for effective alternatives to replace antibiotics in livestock feed to promote growth.

A small-cap Canadian company, Avivagen Inc. (VIV:TSX.V), has developed a feed supplement, OxC-beta™ Livestock, which, “by safely supporting immune function, promotes general health and performance.”

Avivagen’s proprietary OxC-beta Livestock has been shown “to be effective and economic as an alternative to the antibiotics commonly added to livestock feeds.” OxC-beta Livestock is currently available for sale in the Philippines, Taiwan, Thailand, New Zealand, the U.S. and Mexico.

One of the first countries to use OxC-beta is the Philippines, and sales remain strong there. Avivagen recently announced that its partner in the Philippines, UNAHCO, has just placed an order for 2.1 metric tons of the product, the third multi-ton order this year and the second in three months, demonstrating high demand in the growing Philippine market.

“UNAHCO seeks to expand use of OxC-Beta Livestock with new application in broilers, creating new market opportunity for expanded use in a wide variety of feeds worldwide,” Avivagen noted.

“We continue to see exceptional growth for Avivagen and innovative applicability of OxC-beta Livestock in the Philippines and throughout Asia-Pacific,” said Kym Anthony, CEO of Avivagen. “In our view, UNAHCO’s application of OxC-beta Livestock for broilers is further evidence that the appetite for alternatives to antibiotics in livestock feed is growing, and that Avivagen has become the trusted long-term provider for feed producers in Asia-Pacific and around the globe.”

Avivagen notes that “OxC-beta Livestock has the potential to eliminate the use of antibiotics as growth promoters in livestock feed, a problem requiring an urgent solution and which represents a multi-million-dollar market opportunity worldwide.”

“UNAHCO continues to see the applicability and benefit of using OxC-beta Livestock as an ingredient to a number of in-demand feeds, including swine and broilers. With continued recurring orders and evaluation for uses in more types of feed, it’s clear that there are opportunities for continued growth and expanded use not only in Asia-Pacific but globally,” stated Anthony.

Avivagen recently received approval to sell OxC-beta Livestock in Mexico for broiler and pigs. That segment of the market consumes approximately 16 million tons of feed annually. The company has contracted with Meyenberg International Group to lead the distribution agreement process in the country.

In addition to OxC-beta LIvestock, Avivagen sells Vivamune™ Health Chews in the U.S., Canada and Taiwan for companion animals, such as dogs. It also has begun discussions with nutraceutical companies to develop products for human consumption.

On October 6, when Avivagen’s shares were trading at CA$0.57, technical analyst Clive Maund wrote, “With the strong volume pattern and volume indicators suggesting that a new bull market is incubating, this looks like a good point to accumulate the stock.” Shares are currently trading at around CA$0.55.

Avivagen has 38 million shares outstanding, with about 5% held by insiders and more than 20% by institutions, including Pathfinder, AlphaNorth and Bloom Burton.

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Disclosure:
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Avivagen. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Avivagen. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Avivagen, a company mentioned in this article.

Additional Disclosures

Clive Maund does not own shares of Avivagen and neither he nor his company has been paid by Avivagen.

( Companies Mentioned: VIV:TSX.V,
)

Exicure’s Collaboration with Allergan on Treating Hair Loss Disorders Sends Shares Higher

By The Life Science Report

Source: Streetwise Reports   11/14/2019

Shares of Exicure Inc. opened 30% higher today after the firm reported that it entered into a collaboration agreement with Allergan to discover and develop SNA-based treatments for hair loss disorders. The terms of the deal provide for a $25 million upfront payment to Exicure with the potential to grow to $750 million.

This morning clinical-stage biotechnology company Exicure Inc. (XCUR:NASDAQ), which is developing therapeutics for immuno-oncology, inflammatory diseases and genetic disorders based on its proprietary Spherical Nucleic Acid (SNA) technology, announced that it entered into a global collaboration agreement with Allergan Pharmaceuticals International Ltd., a wholly-owned subsidiary of Allergan Plc. (AGN:NYSE),to discover and develop novel treatments for hair loss disorders based on Exicure’s proprietary SNA technology.

The firm indicated “under the terms of the agreement, Allergan will receive exclusive access and options to license SNA-based therapeutics arising from two collaboration programs related to the treatment of hair loss disorders. Exicure will receive an upfront payment of $25 million and will conduct discovery and development in two collaboration programs for hair loss disorders. In the event that Allergan exercises an option, Allergan will be responsible for clinical development and commercialization of the licensed products. Exicure will be eligible to receive development and regulatory milestones of up to $97.5 million per program and commercial milestones of up to $265 million per program. Exicure will also be eligible to receive tiered royalties on worldwide net product sales of mid-single digit to mid-teens percentages on worldwide net product sales.”

Dr. David Giljohann, CEO of Exicure, commented, “We are excited to combine our knowledge of nucleic acid therapeutics with Allergan’s deep expertise in medical aesthetics to develop and commercialize innovative treatments for hair loss disorders…This collaboration is an exciting opportunity to advance Exicure’s SNA technology in an important new therapeutic area.”

Regarding the collaboration and hair loss program, the company explains in the report that “one of the most common hair loss disorders and a subject of the collaboration is androgenetic alopecia also known as pattern baldness, which affects approximately 50 million men and 30 million women in the U.S. It is estimated that over $3.5 billion a year is spent on treatments, the majority of which are ineffective.”

The announcement of Exicure’s partnering agreement with Allergan comes just one day after the company proudly announced that its CEO, Dr. David Giljohann, was named to Crain’s Chicago Business magazine’s 2019 Class of “40 Under 40.” The release outlined that “Crain’s “40 Under 40″ recognizes individuals who are reinventing what it means to do business in Chicago through financial impact and community leadership. Dr. Giljohann, along with the other honorees, will be profiled in the November 18 issues of Crain’s Chicago Business.”

Dr. Giljohann responded to the selection by stating, “It is truly an honor to be recognized for my work at Exicure, which has always been driven by my personal goal of positively impacting patients by creating revolutionary new medicines…I am thankful for the support and dedication of the entire Exicure team that is working tirelessly on our programs to address unmet medical needs in genetic disorders, inflammatory disease and oncology.”

The firm noted that Dr. Giljohann has served as CEO of Exicure since November 2013, after first starting out as the company’s founding scientist in 2011 and that he completed his Ph.D. in 2009 in the laboratory of Dr. Chad A. Mirkin at Northwestern University where he developed oligonucleotide-modified nanoparticles, including Exicure’s Spherical Nucleic Acid (SNA) constructs.

Exicure, Inc. is based outside of Chicago, Ill., and in Cambridge, Mass. Exicure is a clinical-stage biotechnology company developing therapeutics for immuno-oncology, inflammatory diseases and genetic disorders based on our proprietary Spherical Nucleic Acid, or SNA technology. SNAs are nanoscale constructs consisting of densely packed synthetic nucleic acid sequences that are radially arranged in three dimensions. Exicure believes that “its proprietary SNA architecture has distinct chemical and biological properties that may provide advantages over other nucleic acid therapeutics and may have therapeutic potential to target diseases not typically addressed with other nucleic acid therapeutics. Exicure’s lead program is in a Phase 1b/2 trial in patients with advanced solid tumors.”

Allergan is headquartered in Dublin, Ireland, and has staff and operations in around 100 countries. The firm describes its business as “a global pharmaceutical leader focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world.” The company’s portfolio of products and brands are primarily focused on four key therapeutic areas including medical aesthetics, eye care, central nervous system and gastroenterology.

Exicure started the day with a market capitalization of approximately $186.9 million with about 76 million shares outstanding. XCUR shares opened more than 30% higher today at $3.16 (+$0.76, +31.67%) over yesterday’s $2.40 closing price. The stock has traded today between $2.74 to $3.20 per share and closed at $2.74 (+$0.28, +11.38%).

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Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

( Companies Mentioned: XCUR:NASDAQ,
)

DOJ Asked to Examine Risk in Gold & Silver; Celente: Interest Rates Heading Zero or Negative

By Money Metals News Service

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.

Coming up Gerald Celente of the Trends Journal joins me for another explosive conversation you will not want to miss. Gerald covers a range of topics including why he believes the Fed will continue to keep the cheap money game going as long as it can, how the success on Wall Street is not showing up on Main Street and why he believes negative interest rates are coming to America – possibly as soon as this time next year. Gerald gives his take on the presidential election and the key prices levels to be watching for in gold in the months ahead. So, don’t miss another sensational interview with trends forecaster Gerald Celente, coming up after this week’s market update.

Well, as impeachment circus lows and stock market highs dominate the news cycle this week, precious metals are quietly attempting a recovery.

On Thursday, silver prices closed back above the $17 level. As of this Friday recording, silver trades at $17.02 an ounce, up 0.8% on the week. Gold, meanwhile, comes in at $1,469 and is currently posting a weekly gain of 0.5%.

Bulls still have some work to do to repair the technical damage inflicted on both metals during last week’s selling. Gold and silver still face some overhead resistance and the potential for concentrated short selling by financial institutions in the futures markets.

Significant price bottoms are usually reached after the commercial sellers force the speculative longs to capitulate. We certainly saw some of that last week. Whether there is one final washout ahead remains to be seen.

Futures market manipulation of precious metals prices remains an obstacle to free and fair price discovery. Despite some recent prosecutions involving price rigging by banks, the Gold Anti-Trust Action Committee believes the rabbit hole goes much deeper.

GATA reported this week that U.S. Representative Alex Mooney of West Virginia is pushing Attorney General Bill Barr to pursue additional investigations of price rigging in the futures markets. Mooney raises concern in particular about a mechanism for settling metals contracts called “exchange for physicals.” He notes this may pose “some danger of a systemic issue.”

Both Mooney and GATA have repeatedly raised questions with the Commodity Futures Trading Commission that have gone unanswered. Perhaps Attorney General Barr’s office will be more responsive to credible allegations of criminal manipulation in the precious metals markets.

In the meantime, metals investors will have to be prepared for more artificially induced price volatility in their holdings. The best way to beat the paper manipulators long term is to avoid playing in their rigged casino and keep accumulating precious metals in physical form. The supply and demand fundamentals of the physical market will ultimately win out and force their hand.

Futures contracts, exchange-traded funds, and other derivative products tied to gold and silver prices are no substitute for the real thing. Only the actual metal is a time-tested store of value and hedge against financial turmoil including the risk of an inflation outbreak.

Speaking of inflation, on Wednesday the Labor Department reported that U.S. consumer prices rose more than expected in October. The consumer price index increased 0.4% last month as households faced higher costs for food, energy, healthcare, and a range of other goods. It was the largest monthly CPI gain since March.

Many economists believe the CPI actually understates real-world inflation. The Federal Reserve has other preferred gauges for estimating inflation, but they all have their flaws as well.

Fed Chairman Jerome Powell talks over and over again about pursuing a “symmetrical” 2% inflation target. But this number is completely arbitrary and is found nowhere in the central bank’s original “stable prices” mandate.

Prospective Federal Reserve Board nominee Judy Shelton is skeptical of the prevailing thinking at the Fed on inflation. Shelton was floated by President Donald Trump as a Fed member several months ago and is still waiting for an opportunity to be confirmed by the Senate.

She will have a difficult time given her unorthodox but very common-sense views on things like true price stability. She appeared on CNBC this week and offered these thoughts:

Judy Shelton: There are so many indices for evaluating inflation that right away, it’s confusing. Of course, for me, a dependable dollar wouldn’t lose value at all. Instead, we have this regimented built in 2% obsolescence and I would rather, and I think Paul Volcker has expressed this as well, not have 2% because that very easily can become 4%. I’ve seen some economists saying, well that would make life a lot easier for central bankers. They would have more room to maneuver, but it makes life infinitely more complicated for the people who have to use money.

I’m leery that the Fed now talks about symmetrical inflation. If they ever do hit their target, it now sounds like they’re willing to go above that amount for a non-determined period of time so that somehow they balance out and say, well, over the long run we hit 2%. At least, people are not listing inflation as their primary concern these days, but still it’s a very interesting intellectual challenge to discuss what is the right rate of inflation. I guess I prefer zero.

Sound money advocates would certainly welcome Shelton’s perspective having a seat at the Fed’s policy making table. She has previously expressed support for reintroducing gold into the monetary system as a way of tethering the value of the dollar to something solid.

But for now, the monetary system isn’t tethered to anything except the unlimited demand by bankers and politicians for new dollars to be created out of thin air.

Well now, without further delay, let’s get right to this week’s exclusive interview.

David Jensen

Mike Gleason: It is my privilege now to welcome back the one and the only Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente is a frequent guest on the Money Metals Podcast and is perhaps the most well-known trends forecaster in the world. And it’s always great to have him on with us.

Gerald, thanks for the time again today, and welcome back.

Gerald Celente: Oh, my pleasure. Thanks for having me on.

Mike Gleason: Well, Gerald, since we spoke last in August, the Federal Reserve has begun propping up the repo markets, and they resumed buying government debt. They tell us the program on bond purchases should in no way be confused with prior bond purchasing programs, also known as Quantitative Easing. They don’t want us to worry about it. Just a little extra boost for an economy struggling with some fears over trade and a minor temporary problem in the repo markets is what they’re saying. The only trouble is that hundreds of billions of dollars are involved so far, and it could wind up being trillions. So once again, the Fed is shoveling freshly-printed cash at banks and the Treasury Department. What is your guess as to why the Fed has engaged in this stealth bailout, and why aren’t more people talking about it?

Gerald Celente: Well, because most people don’t know what a repo market is, and who cares, really, in the sense that … but I disagree with you that they’re printing cash. It’s digital money backed by nothing and printed on nothing. And as I say that facetiously, when you say cash, it’s just this is just a scam. It’s make-believe money. And they’re dumping in, according to the numbers, and you said it’s going to go to the trillions, and that’s correct, over 120 billion a day. A day.

And you got these little slimer, low-life central banksters. I mean, remember these are private banks. Let’s get the word Federal Reserve off it. There’s nothing Federal about it. And we just heard from the top bankster there, Jerome Powell, saying that interest rates are unlikely to change as long as growth continues. What growth is he talking about? The only growth that they’re talking about are the equity markets, and the equity markets have nothing to do with the growth of the nation or the growth of the average person. So, all this is is one big sham to keep what morons, imbeciles, and jerks call “investors” into the market so they could keep making more billions. They’re not investors, they’re gamblers, and they’re addicted.

And go back to January 4th of this year when low-life Powell did a 180 from 2018 when they were going to raise interest rates. They were expecting two to three interest rate increases in 2019, and on January 4th, despite very high job numbers on that Friday, said that they were going to be, “patient in raising interest rates” because they’re concerned about the markets, because they just had the worst December 2018 since the Great Depression. So, all they’re doing here is dumping money into the marketplace to keep the gamblers happy, and the banksters are nothing more than the money junkies. They’re giving them the fix.

And you heard President Trump say that the S&P is up more than 45%, the Dow Jones Industrial Average is up over 50%, NASDAQ Composite is up 60%. And those numbers could be higher, Trump said, if it weren’t for reluctance of the Fed to even lower rates more. So, he’s saying that there would be another 25% added to each of those numbers I just read. What do those numbers have to do with the average person? What does the S&P, NASDAQ, and Dow have to do with anybody? This money is only going to pump up the markets. And it’s all fake money. Digital money backed by nothing and printed on nothing.

Mike Gleason: For a while we wondered if the Fed would play ball with Trump. There was a question about whether or not Wall Street would support the President or try to get him unelected. It looks like maybe that question has been answered. The Fed is cutting rates and throwing money in the bond markets. Has that changed your outlook? Because until recently, signs were that the U.S. was sliding towards recession and an economic slowdown was the one thing that could derail Trump’s chances of reelection. Do you still think we are likely to get a recession and a selloff in stocks before this time next year, or will they be able to keep it going, keep this party going a little bit longer with all the new stimulus?

Gerald Celente: Well, we’ve been forecasting that we’re going to see by this time next year, earlier than … like maybe a year from October, you’re going to see negative or zero interest rate policy. And that’s going to keep boosting the market up artificially. And he’s going to do everything he can. Wall Street doesn’t … yeah, they don’t like him, but they don’t want the markets to go down. So they’re in a catch-22 — either stay with Trump and keep getting low interest rates because of the pressure that he’s putting on the Fed.

I mean, he just came out again this week and said that the Fed should continue to cut interest rates to make the U.S. more competitive. He’s talking about negative interest rates, and he goes, “Give me some of that money.” He said, “Give me some of that money. I want some of that money.” I mean, these are his words, “I want some of that money.” So they’re going to just continue to do this to keep the markets going, and Wall Street wants only for the market to keep going. Yeah, I mean, they’d rather have Trump than Elizabeth Warren and Bernie Sanders.

Mike Gleason: Speaking of that, let’s talk a bit about the election since that will be the major story in the year ahead. To us, it looks like the Democrats are doing whatever they can to lose. They spun everyone’s wheels for three years with the Russia Gate investigation, which bore no fruit. Now they’re trying to impeach based on an alleged attempt by Trump to extort the Ukrainian government into investigating the Bidens. That’s an issue that looks more likely to hurt Democrats than to hurt Trump, to the extent Americans are still paying attention at all. Unless we’re missing something, the impeachment will die in the Republican Senate if it even gets through the House. And on top of all of that, the Democrat front runners look almost unelectable. We don’t think America is quite ready to vote for Elizabeth Warren or Bernie Sanders, a couple of socialists. But give us your thoughts, if you would, on the Democrat candidates and Trump’s prospects for reelection here, Gerald.

Gerald Celente: Well, again, we’re forecasting Trump the winner as it stands now. And there are always the wild cards. That’s why people say, that I predict the future. Nobody can predict the future. There are too many wild cards. And I wouldn’t call Bernie Sanders or Trump or Warren “socialists.” I call them “stupid people.” And they’re doing nothing to talk about improving the economy. All they’re talking about is how to get more money to give away and make things less expensive in healthcare and other areas. They’re doing nothing about how are we going to create more jobs, build the economy, and build the middle class. So they’re not going to win the swing states.

And it’s funny you mentioned Sanders and you mentioned Warren, but you left out Biden. And that’s the mentality and the feeling that Biden won’t be there. But even if Biden wins, Trump is going to win the swing states. They’re not going to vote for a Sanders or a Warren. It’ll be like a McGovern running against a Nixon.

And as for impeachment, you’re 100% right. It’s going nowhere, and it’s a total waste of people’s time. And anybody listening to the mainstream media is just wasting their precious time in life. This is the headline on, as we’re speaking, on the Cartoon News Network (aka CNN), the whole front page. We learned about a new Ukraine call, why it matters. How about shove it? Who you talking to, junior? I’ll tell you who they’re talking to, they’re talking to all stupid people. Only imbeciles and morons tune into ABC, CBS, Fox, the Cartoon News Network, and any of the other ones.

If you’re going to follow the impeachment sideshow I should say, going on … Forget about what’s going on in Bolivia. Why do you need to know what’s going on in Chile? Hey, how about Lebanon? Who? And what about Algeria? Hey, Hong Kong, Spain. I mean, look what’s going on around the world. Americans are totally oblivious to what’s going on, what’s going to happen, and the implications. So, this is the stupidity of what’s going on, and it’s in front of everybody’s eyes.

Mike Gleason: Switching gears here a little bit, we’re heading into the end of the year. Metals have performed well, though a good portion of those gains have been given back the past week or two. Stocks are up. The ominous yield curve inversion has disappeared in the bond markets. The dollar is strong. You have to hand it to the Fed and the banks, these markets are well managed to say the least. We aren’t sure if surprises are still allowed to happen. But what are your thoughts for the months ahead? Are you expecting any surprises?

Gerald Celente: Well, again, I never thought that they would dump this money, $120 billion into the repo market. My forecasts are based on things that are going on, and now I hear something like this that’s unprecedented. And if you remember when it happened in September, it was only going to go to October 10th, and then from October 10th it went to November 4th, and then from November 4th it went to infinity. So, you can’t forecast this stuff.

And so what’s happening with all this monetary methadone being shot back into the bull, now you’re seeing people running back into the markets because they know they’re going to keep getting more cheap money for free so they could gamble and keep their addiction going. And that’s going to put downward pressure on gold, as it has. And my forecast is the same. It has not changed one bit. And that is that I said when gold broke over $1,450 an ounce, it would head towards $2,000, and it was. But then it’s been sidetracked by, again, all this cheap money that’s going into the equities markets that’s now being taken out of the safe haven assets.

And on the downside, I said if gold goes below $1,450, which it got very close to doing, the bottom would be $1,390. So, I maintain the gold forecast, and what they’re doing to the markets is only going to temporarily inflate them. Again though, but they’ll come up with another scheme. They’re sick people. They’re addicts. Addicts do anything, anything to get their fix. And the money junkies are the banksters, and they give them their fix.

Mike Gleason: Certainly, negative interest rates are starting to get a little bit more play here in the United States. We’re seeing that in other parts of the world. You got to think that’s a good environment if we do get a true negative interest rate here in the U.S. Is that kind of what you’re looking at long term as we maybe move in that direction?

Gerald Celente: Well, that’s what I’m saying. We’re forecasting by next October, late October, you’re going to see interest rates at negative or zero in the United States. This is Trump’s quote: “We are actively competing with nations who openly cut interest rates so that now many are actually getting paid when they pay off their loans, known as negative interest.” Whoever heard of such a thing? Nobody’s ever heard of such a thing. And then he goes on to say, “Give me some of that. Give me some of that money. I want some of that money.” And that’s all it’s about, some of that money and negative interest rates, and it’s going to just keep artificially propping this up.

But again, it’s going to end at some point. The debt bubble is gigantic, and it’s around the world. And China is in deep trouble as well. They don’t know what to do. They don’t want to devalue their currency by pumping more cheap money in despite what Trump is saying, because there’s some $16 trillion worth of business debt that’s dollar based in China, and they have to pay it back in dollars and around the world. So, the stronger the dollar gets, the weaker these currencies go, and the bigger their debt burden is. So this is really a crisis that’s going on that’s merely been temporarily stopped.

Mike Gleason: Yeah. Well put. Well, finally, Gerald, as we begin to wrap up, give us any final thoughts on anything we may not have touched on either on the financial front or on the geopolitical front. Give us a sense of the stories and trends you’re going to be following most closely as we close out 2019 and look towards 2020.

Gerald Celente: Well, what we’re looking at is really the geopolitical instability going on. Again, name the country, Hong Kong, Iraq, the people are protesting. All over the world. Bolivia, Chile. And then wars are heating up more in Mali. With the problems in Syria, with Iran. So, people should be very, very careful. Now, we don’t give financial advice, but we’re saying prepare for the worst. And if you prepare for the worst and the worst doesn’t happen, you haven’t lost anything. If the worst happens and you haven’t prepared, you could lose everything. And I still maintain the position as gold being the most valuable safe haven asset, and it will prove that because this lust for oil, lust for money, and lust for power is the way of the world now, and it’s ready to explode as we see it.

Mike Gleason: Well, excellent stuff. Once again, Gerald, we always appreciate the time. Before we let you go, please tell listeners how they can get their hands on the tremendous Trends Journal information that you put out there through the various mediums, or anything else they ought to know about how they can follow the Trends Journal more closely, especially given the tenuous state of things during the 2020 election year that is about to commence.

Gerald Celente: Well, you nailed it. It’s tenuous times, and that’s why we’ve gone, it used to be a quarterly, to a monthly. Now it’s a weekly because events are happening so fast, and the implications are so strong in so many different directions. And it’s the only magazine in the world that’ll give you history before it happens. We tell you what’s happening, what it means, where it’s going, and how it’s going to affect you. There’s no other magazine like it, and it’s a weekly, and again, a money back guarantee. It’s only $129 a year. The only magazine where you’ll get history before it happens so you could help prepare for what’s coming ahead.

And in 2021, we’re forecasting the greatest recession. And as we look around the world, the global slowdown is underway. I mean, you name the countries. Germany nearing recession levels. We’ll see very shortly whether they fell in again. And when a country like that is going down, you know how bad it is.

Mike Gleason: Yeah, certainly a big linchpin over there in the eurozone for sure. That’ll be interesting to watch. And we’ve got the holidays coming up. Anybody that’s maybe thinking of a unique gift, Trends Journal would make a fantastic one for a loved one or a friend. It’s fantastic information. You hear the great stuff that Gerald gives us here on the podcast on a regular basis, and I urge everyone to check that out because it is truly great stuff. History before it happens, like they like to say.

Well, Gerald, thanks so much for the time. Again, enjoy your weekend. We’ll look forward to catching up with you again probably after the first of the year and can’t wait for our next conversation. Take care.

Gerald Celente: Well, thank you, and thank you for all that you do.

Mike Gleason: Well, that will do it for this week. Thanks, again to Gerald Celente, publisher of the renowned Trends Journal. For more information, the website again is TrendsJournal.com, be sure to check that out.

And check back here next Friday for our next Weekly Market Wrap Podcast. Until then, this has been Mike Gleason with Money Metals Exchange. Thanks for listening and have a great weekend everybody.

 


The Money Metals News Service provides market news and crisp commentary for investors following the precious metals markets.

COT Speculators cut USD bets for 6th week. VIX bets hit another high. Gold, Silver dip

By CountingPips.comReceive our weekly COT Reports by Email

Here are the latest links to our coverage of the Commitment of Traders data changes.

This week in the COT data, currency speculators once again reduced their US Dollar Index bullish bets for a sixth consecutive week. The current USD bullish position is now at the lowest level since July.

Canadian dollar bullish bets dropped by over -11,000 contracts after surging in each of the previous three weeks.

Australian dollar bets fell sharply (-14,015 contracts) only one week after the Aussie had improved to the least bearish level in forty-four weeks.

Precious metals speculators decreased their Gold bullish positions this week after bets had risen for three straight weeks. Despite the decline this week, gold bullish bets have stayed above the +250,000 net contract level for 16 consecutive weeks

Silver speculators decreased their bullish bets for the second straight week. This decline pushed positions to the lowest level of the past 18 weeks.

Copper speculators added to their bearish bets following four straight weeks of lower bearish positions. The current bearish position remains right around the -25,000 net contract which is less than half the total of the record bearish level of -58,841 contracts that was recorded in early September.

VIX speculators once again added to their bearish bets for a fifth straight week and for the tenth time in the past eleven weeks. This week’s total (-206,157 contracts) establishes a new record bearish standing which is the third straight week that specs have recorded a new all-time high.

The 10-Year Note speculators cut back on their bearish bets following two straight weeks of increasing bearish positions. The reduction in bearish positions has brought the total under the 2019 average position level of -262,602 contracts.

Lastly, Crude oil speculative positions were boosted higher for a fifth consecutive week. The bullish level is now back over the +400,000 net contract threshold and above the 2019 average level of +399,218 contracts.


US Dollar Index Speculators trim bullish bets for a 6th week. AUD, CAD bets fall

Large currency speculators decreased their net positions in the US Dollar Index futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. See full article.


Speculators boosted their WTI Crude Oil bullish bets higher for 5th week

The large speculator contracts of WTI crude futures totaled a net position of 424,597 contracts, according to the latest data this week. This was a change of 18,457 contracts from the previous weekly total. See full article.


Large Speculators cut back on their 10-Year Treasury Note bearish bets

Large speculator contracts of the 10-Year Bond futures totaled a net position of -148,794 contracts, according to the latest data this week. This was a change of 82,662 contracts from the previous weekly total. See full article.


Gold Speculators cut back on their bullish bets for first time in 4 weeks

Large precious metals speculator contracts of the Gold futures totaled a net position of 267,066 contracts, according to the latest data this week. This was a change of -12,762 contracts from the previous weekly total. See full article.


VIX Speculators continue to set new record bearish positions

Large stock market volatility speculator contracts of the VIX futures totaled a net position of -206,157 contracts, according to the latest data this week. This was a change of -2,559 contracts from the previous weekly total. See full article.


Silver Speculators sharply reduced their bullish bets

Large precious metals speculator contracts of the silver futures totaled a net position of 37,364 contracts, according to the latest data this week. This was a change of -10,633 contracts from the previous weekly total. See full article.


Copper Speculators added to their bearish bets for 1st time in 5 weeks

Metals speculator contracts of the copper futures totaled a net position of -26,287 contracts, according to the latest data this week. This was a change of -2,976 contracts from the previous weekly total. See full article.


Article By CountingPips.comReceive our weekly COT Reports by Email

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

Who Is The Richest Forex Trader?

By Orbex

A frequent thought among forex traders is how much money could they make through forex trading. There’s a realistic scenario, of course, but there’s also the theoretical upper limit of possibilities.

If you got really ambitious and tried really hard, where would you end up? Can you get rich trading forex?

Well, technically yes; just like you can win the lottery.

How likely is it, though? And more importantly, are you willing to make the sacrifices that other people with more money have made? There’s also quite a bit of luck involved, right?

Let’s put all that aside for now, and figure out who did (or is doing) the best when it comes to forex trading.

What do You Mean by Richest?

You could make the case that most of the richest people in the world have done some degree of forex trading.

People like Warren Buffet who take currency positions to hedge other investments, for example, do use forex as part of a wide range of investment tools. But that feels like calling him a forex trader through a technicality.

Another example might be Jeff Bezos, who used to trade currencies before he started Amazon. Is he technically a forex trader? Well, he was. But he became the richest man in the world through other means, though his forex trading arguably helped.

Strictly Forex

Part of the problem with identifying the richest forex trader is that once you get above a certain amount of money, you start diversifying your investments. Diversification helps manage risk, and that’s how most successful traders operate.

So, let’s limit the definition to people who make their fortune solely on the basis of forex.

This includes people who might move on to invest in other things but still keep a significant currency portfolio because that’s their area of expertise.

If that’s the criteria we’re adhering to, then probably the richest and most famous forex trader would be George Soros.

How to Build a Fortune on Currencies

Soros was born in Hungary to a Jewish family during the Holocaust. It’s hard to start in a more “rags” place than that, if we want to tell a rags-to-riches story.

However, he managed to raise money to create an investment fund, on which he would base his later success.

He’s often known as “The Man Who Broke the Bank Of England” by taking a short position during Black Wednesday in the UK.

He took advantage of what he saw as a potential negative impact on the British pound on the European Exchange Rate Mechanism. This allowed him to make over $1 billion in a single day with just forex.

Other Top Contenders

Evidently Soros found himself in a somewhat unique position, that most FX traders won’t have the opportunity to do again.

There are, however, traders who have made substantial fortunes through consistent and rigorous forex trading. A notable example would be Stanley Druckenmiller, who helped manage Soros’ currency portfolio and is estimated to be worth more than $3.5B today.

Other forex traders who have been quite successful are also well known because they’ve transformed their experience and knowledge into books. Jack Schwager, for example, author of the Market Wizards books. Or Alexander Elder, who wrote a series of classic books on trading.

Back to Earth

Because of how George Soros made a substantial amount of his fortune, he might not be the best example for people starting out trading. He got lucky, but also he was prepared to take advantage of that luck.

Which is a recurring theme among the more successful traders; managing their money and building on their skills as much as possible so they have the means to take advantage of the situation when it arises.

By Orbex