Archive for Stock Market News

Stock Markets: “What Happens When the Dip Keeps Dipping?”

These can “work tirelessly to keep investors trapped on the wrong side of a bearish trend”

By Elliott Wave International

It’s been a rocky road for the Dow and the S&P 500 index since the start of the year. And, even longer for the NASDAQ, which topped back in November.

Indeed, speaking of technology stocks, some of the most popular names took a big beating in April alone. As the Wall Street Journal noted (April 29):

The FAANG stocks, consisting of the popular quintet of Facebook parent Meta Platforms, Apple, Amazon.com, Netflix and Google parent Alphabet, have collectively lost more than $1 trillion in market value [in April], the most since Facebook started trading in May 2012.

So, you might think that this bumpy ride in the stock market would have many investors at least considering moving to the sidelines, especially those with a sizeable nest egg to protect.

Well, according to a UBS Investor Sentiment survey of millionaire investors — conducted between April 5 and April 18 — most of those surveyed plan to stick with stocks.

Here’s a May 4 CNBC headline:

More wealthy investors would rather hold or add stocks than sell if markets keep sliding, survey says

Granted, this survey was taken before some of the roughest trading days in April. Still, it shows a recent willingness by even the “cream of the crop” in society to “buy the dip.”

No doubt, that same lingering bullishness has persisted in other nations too.

With that in mind, the April Global Market Perspective, a monthly Elliott Wave International publication which provides analysis of 50-plus worldwide financial markets, provided an object lesson in buying the dip, using past bear markets in Germany’s DAX as examples:

[These two graphs illustrate] the multi-week and multi-month rallies that work tirelessly to keep investors trapped on the wrong side of a bearish trend. The left graph depicts every plus-10% rally from March 2000 to March 2003, a three-year span that saw the DAX drop by 74%. The right graph illustrates the bear market from July 2007 to March 2009, which saw seven rallies of 10% or more.

So, “buying the dip” can be a financially dangerous strategy.

In our view, it’s best to consult a financial market’s Elliott wave structure before making a decision about your portfolio.

If you’d like to learn how the Elliott wave model can help you analyze financial markets, you are encouraged to read Frost & Prechter’s Wall Street classic, Elliott Wave Principle: Key to Market Behavior. Here’s a quote from the book:

“When you have eliminated the impossible, whatever remains, however improbable, must be the truth.” Thus eloquently spoke Sherlock Holmes to his constant companion, Dr. Watson, in Arthur Conan Doyle’s The Sign of Four. This advice is a capsule summary of what you need to know to be successful with Elliott. The best approach is deductive reasoning. By knowing what Elliott rules will not allow, you can deduce that whatever remains is the proper perspective, no matter how improbable it may seem otherwise. By applying all the rules of extensions, alternation, overlapping, channeling, volume and the rest, you have a much more formidable arsenal than you might imagine at first glance. Unfortunately for many, the approach requires thought and work and rarely provides a mechanical signal. However, this kind of thinking, basically an elimination process, squeezes the best out of what Elliott has to offer and besides, it’s fun! We sincerely urge you to give it a try.

You can read the entire online version of Elliott Wave Principle: Key to Market Behavior for free once you become a Club EWI member!

Club EWI is the world’s largest Elliott wave educational community and is free to join. Members enjoy free access to a wealth of Elliott wave resources on investing and trading.

Get started by following this link: Elliott Wave Principle: Key to Market Behavior — free, unlimited and instant access now.

This article was syndicated by Elliott Wave International and was originally published under the headline Stock Markets: “What Happens When the Dip Keeps Dipping?”. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Pfizer Offers $11.6B to Buy Biopharma Co.

Source: Streetwise Reports   05/10/2022

Shares of Biohaven Pharmaceutical Holding Co. Ltd. traded almost 70% higher after the company reported it agreed to be acquired by Pfizer Inc. for $148.50 per share in cash plus future royalty opportunities.

Pfizer buys company

Commercial-stage biopharma firm Biohaven Pharmaceutical Holding Co. Ltd. (BHVN:NYSE), which has developed a portfolio of best-in-class therapies to treat neurological and neuropsychiatric diseases, and global pharmaceutical company Pfizer Inc. (PFE:NYSE), today announced that “the companies have entered into a definitive agreement under which Pfizer will acquire Biohaven, the maker of NURTEC® ODT, an innovative dual-acting migraine therapy approved for both acute treatment and episodic prevention of migraine in adults.”

The report stated Pfizer will purchase all outstanding common shares of Biohaven that it does not already own for $148.50 per share in cash. The companies stated that the $148.50 cash offering price represents a 33% premium over Biohaven’s three-month volume weighted average selling price of $111.70.

The total value of the acquisition in estimated to total around $11.6 billion. Additionally, Pfizer will be required to redeem of all outstanding shares of Biohaven’s preferred stock and settle Biohaven’s third party debt.

Under the terms of the agreement, existing Biohaven common shareholders will also receive 0.5 shares of “New Biohaven” shares in exchange for each share owned. New Biohaven is to be capitalized with $275 million in cash and New Biohaven will be eligible to receive tiered royalties on any annual net sales of rimegepant and zavegepant in the U.S. in excess of $5.25 billion from Pfizer.

Nick Lagunowich, Global President, Pfizer Internal Medicine commented, “Today’s announcement builds on our legacy of delivering breakthroughs for patients living with complex pain disorders and diseases that disproportionately impact women…NURTEC® ODT, which is already the #1 prescribed migraine medicine in its class in the U.S., coupled with Biohaven’s CGRP pipeline, offers hope for patients suffering from migraine worldwide.”

“We believe Pfizer is uniquely positioned to help the portfolio reach its full potential given our leading scale and capabilities, including comprehensive field force engagement with Primary Care Physicians, specialists and health systems delivering the right information at the right time,” Lagunowich added.

The report noted that in November 2021 the two companies signed a collaboration agreement to market rimegepant and zavegepant outside the U.S. At that time, Pfizer purchased 2.6% of Biohaven’s common stock at a price of $173 per share for a total of $350 million.

Biohaven’s Chairman and CEO Vlad Coric, M.D. remarked, “We are excited to announce Pfizer’s proposed acquisition of Biohaven, recognizing the market leadership of NURTEC® ODT, our breakthrough all in one migraine therapy, and the untapped potential of our CGRP franchise…Pfizer’s capabilities will accelerate our mission to deliver our migraine medicines to even more patients, while the new R&D company is well positioned to bring value to patients and shareholders by focusing on our innovative pipeline for neurological and other disorders.”

The report advised that both Biohaven’s and Pfizer’s respective Boards of Directors have already unanimously approved the transaction. The report indicated that Pfizer plans to finance the acquisition with existing cash on hand and mentioned that the transaction is expected to close by early 2023, subject to several conditions including approval by Biohaven’s shareholders, the spin-off of the New Biohaven entity, ordinary closing conditions and receipt of necessary regulatory approvals.

Upon closing, the “New Biohaven” will continue to operate under the Biohaven name and Dr. Vlad Coric will continue to serve in the role of Chairman and CEO along with other members of the present executive management team.

About forty million people in the U.S. and around one billion people worldwide suffer from migraine of which about 75% are women. When a migraine attack occurs, the debilitating condition typically lasts for between 4 to 72 hours. Migraine symptoms typically occur in combination and often include moderate to severe throbbing headaches, sensitivity to light or sound and nausea.

The company explained that “rimegepant targets a root cause of migraine by reversibly blocking CGRP receptors, thereby inhibiting the biologic cascade that results in a migraine attack.” The U.S. Food and Drug Administration (FDA) first approved NURTEC® ODT (Rimegepant) for the acute treatment of migraine in February 2020 and in May 2021 approved the drug for preventive treatment of episodic migraine. Biohaven added that NURTEC® ODT is now the top prescribed migraine treatment in its class and since its U.S. cumulative launch has generated approximately $650 million in net revenue from more than two million filled prescriptions.

Biohaven described zavegepant as “a third generation, high affinity, selective and structurally unique, small molecule CGRP receptor antagonist from Biohaven’s NOJECTION™ Migraine Platform and the only CGRP receptor antagonist in clinical development with both intranasal and oral formulations.”

The company advised that in a Phase 2/3 dose-ranging study that enrolled more than 1,000 patients, intranasal delivered zavegepant demonstrated statistical superiority versus placebo and met its preestablished primary endpoints of 2-hour freedom from pain and freedom from a patients’ most bothersome symptom of either nausea, or hypersensitivity to sound (phonophobia) or light (photophobia). The firm said it intends to submit a New Drug Application (NDA) for zavegepant to the FDA in Q2/22.

Biohaven is a commercial-stage biopharmaceutical company headquartered in New Haven, Conn. The firm’s drug portfolio and activities are focused on developing innovative therapies for treating debilitating neurological and neuropsychiatric diseases, including rare disorders.

The firm’s portfolio includes and FDA-approved treatment for acute and preventive treatment of migraine, NURTEC® ODT (rimegepant), and several other late-stage product candidates in its pipeline that are being developed to address amyotrophic lateral sclerosis, migraine treatment, obsessive-compulsive disorder and spinocerebellar ataxia, focal epilepsy and neuronal hyperexcitability and neuromuscular diseases.

Pfizer is based in New York and is a research-based global biopharma company involved in the discovery, development, manufacture and marketing of pharmaceuticals, vaccines and other healthcare products. The firm is presently highly focused on develop mRNA vaccines for SARS-CoV-2. Pfizer’s global portfolio includes many well-known brand prescription medications including Celebrex, Eliquis, Lipitor, Prevnar 13, Pristiq, Viagra and Xeljanz. The company’s shares trade on the NYSE and has a market cap of about $275 billion.

Biohaven Pharma began the day with a market cap of around $5.9 billion with approximately 70.53 million shares outstanding and a short interest of about 6.7%. BHVN shares opened 71% higher today at $142.40 (+$59.26, +71.28%) over yesterday’s $83.14 closing price. The stock has traded today between $140.71 and $144.00 per share and is currently trading at $140.73 (+$57.59, +69.27%).

 

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 decision to publish an article until three business days after the publication of the 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.

New ETFs You May Want To Own

By Ino.com

– New ETFs are popping up all the time. This is partially due to the ease of the process of opening a new product but largely because investors are looking for new ways to play different emerging trends and new technologies. Of course, it’s unlikely all the new ETF options will last the test of time; just look at how many ETFs close each year, but that doesn’t stop fund managers from opening new ones like it’s going out of style. I guess the thinking is, ‘throw as many things at the board and see what sticks.’

But from an investor’s point of view, it’s not costing you anything unless you invest in something that fails, and it gives us a lot more options to choose from. So with that in mind, let’s take a look at a few of the newer ETFs to hit the market; perhaps you may find one interesting enough to invest in or at least follow.

The first one that I would like to highlight is the iShares Emergent Food and AgTech Multisector ETF (IVEG). The fund will invest in companies that focus on agriculture technology, alternative proteins, nutritional innovation and safety, and sustainable food production and packaging. For the fund to hold a company, it must derive revenues from one of those themes; they also must expect to see profits from one of the themes increase by at least 5% during the coming 5-year period. The fund will have an expense ratio of 0.47%.

From 2010 to 2050, food demand is expected to increase by 56% worldwide. Furthermore, it is believed that 34% of global emissions are caused by food production. These two figures point toward some big changes in the food and agricultural industries in the coming decades. We may be early today, especially since this is not an industry that is known to change quickly, but it is hard to deny the fact that it is ripe for change in the coming years.

Another interesting one is the Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT). This ETF focuses on gaining exposure to iron, copper, aluminum, nickel, and cobalt through a combination of futures contracts and commodity-linked ETFs. It will avoid being labeled as a commodity pool, which will allow it to have different tax status from other commodity-focused ETFs. The fund will have an expense ratio of 0.59% for the first roughly year and a half.

The demand boom we are seeing for EVs around the world is likely only going to grow in the coming years, and this is sort of a back door way to play the EV trade without trying to cherry pick which companies are going to make it and which ones will fade out. These materials will be required by all the companies trying to make EVs, and thus, these commodities will likely only move higher in price with time. The only question is, can they move high enough, quickly enough, so that the futures contracts don’t deteriorate and erode profits.

And finally, let’s take a look at the new AdvisorShares Drone Technology ETF (UAV). UAV focuses on companies that derive at least half their revenue or profits from the manufacturing of drones or the development of related technologies. It primarily focuses on US-based companies.

If you have been investing long enough, you remember when drones and this technology were all the hype a few years ago. This is the second drone-focused ETF; the first was launched in 2016 and failed. Part of this was fueled by Amazon.com Inc. (AMZN) announcing that they were trying to figure out ‘last mile delivery’ using drones. Other delivery services have also talked about trying to do this, but unfortunately, no one has figured it out enough to roll out a nationwide program. Unfortunately, it hasn’t happened yet for those working on it, but perhaps fortunate for those of us who may be interested in investing in this space prior to it really taking off, but after the initial pop and fade.

Drones are already being used for military applications, photography, e-sports, and just for enjoyment. Which is all good because the concept is sound, and the businesses in this industry are producing good products. But, the real money won’t flow in until drones can and are being used on a more commercial basis. So, investing in this industry today is risky but could offer big upside.

Matt Thalman
INO.com Contributor – ETFs
Follow me on Twitter @mthalman5513

Disclosure: This contributor did not hold a position in any investment mentioned above at the time this blog post was published. This article is the opinion of the contributor themselves. The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. This contributor is not receiving compensation (other than from INO.com) for their opinion.

By Ino.com – See our Trader Blog, INO TV Free & Market Analysis Alerts

Source: New ETFs You May Want To Own

PE Firm Buys Pure-Play Media Co.

Source: Streetwise Reports   05/09/2022

Hemisphere Media Group Inc. shares traded nearly 80% higher today after the Spanish language media streaming company reported that it agreed to be acquired by Gato Investments L.P. in an all-cash transaction for $7.00 per share.

Miami, Fla.-based pure-play media company Hemisphere Media Group Inc. (HMTV:NASDAQ), which provides broadcast, cable and digital streaming content for U.S. Hispanic and Latin American markets, today announced “it entered into a definitive agreement to be acquired for $7.00 per share in cash by a subsidiary of Gato Investments L.P., a portfolio investment of Searchlight Capital Partners L.P.”

The company advised that the $7.00 per share offering prices represents an 86% premium over the share closing price on the previous trading day and is 63% above the stock’s 30-day volume weighted average share price. Hemisphere Media Group noted when the acquisition is finalized the company will become a wholly owned subsidiary of Gato and will no longer trade as a public company.

The firm stated that in addition and concurrently with entering into the agreement with Gato Investments, it also signed a separate deal with TelevisaUnivision. Under the terms of this second agreement, TelevisaUnivision will buy Hemisphere’s U.S. Spanish language streaming platform, Pantaya, in exchange for cash and transfer of TelevisaUnivision’s Puerto Rico radio assets, WKAQ AM and KQ105 FM.

Hemisphere Media Group’s CEO Alan Sokol commented, “We are pleased to have reached this agreement with Gato, which we believe is the right path forward for our organization and delivers immediate value and certainty to stockholders…We have worked tirelessly to create an extraordinary portfolio of assets, and this transaction is a direct reflection of the quality of our networks, growing audience, and premium news and entertainment outlets.”

Searchlight Capital Partners’ Founding Partner Eric Zinterhofer stated, “We have had a longstanding relationship with Hemisphere and this transaction will provide the company with enhanced financial flexibility to achieve its goals…Hemisphere is a leader in delivering news and entertainment to its growing audiences. We will continue to partner with the management team at Hemisphere to bring our communities the unique and important content they desire.”

Mr. Sokol noted that he believes that Pantaya will continue to flourish and thrive under TelevisaUnivision’s ownership and that the addition of the new radio stations in Puerto Rico will serve to greatly complement its WAPA broadcast network there.

Pierluigi Gazzolo, President and Chief Transformation Officer of TelevisaUnivision, remarked, “The acquisition of Pantaya’s digital assets, including renowned titles like ‘Señorita 89’ and ‘A La Mala’, is an exciting opportunity to build upon our strategic growth plan as we continue to redefine the global streaming landscape…We look forward to welcoming the Pantaya team, the existing subscribers and having access to the content assets which perfectly complement TelevisaUnivision’s industry-leading library.”

The report indicated that Hemisphere Media Group’s Board of Directors have already unanimously approved the transaction, which is expected to close in the Q3/22, subject to approval by the company’s shareholders, ordinary closing conditions, receipt of regulatory approvals and the completion of the transaction with TelevisaUnivision.

In addition, the agreement provides Hemisphere with the option to solicit and consider alternative acquisition proposals for a period of 30 day. The “go-shop” period has commenced and will expire on June 7, 2022.

Hemisphere Media Group is a publicly traded U.S. television, streaming and digital content platform media company. The firm is headquartered in Miami, Fla. and is focused on providing culturally relevant Spanish language news and entertainment programming for Hispanic and Latin American markets. The company listed that “it owns and operates five leading U.S. Hispanic cable networks, two Latin American cable networks, the leading broadcast television network in Puerto Rico, the leading Spanish-language subscription streaming service in the U.S., a Spanish-language content distribution company and has an ownership interest in a leading broadcast television network in Colombia.”

Searchlight Capital is global private equity firm with over $10 billion in assets under management. The firm is based in New York and also maintains offices in London and Toronto.

TelevisaUnivision was described as in the announcement as “the leading Spanish-language media and content company in the world.” The firm combines its vast content library and large-scale production capabilities to power its streaming, tv and radio businesses. The firm is best known in the U.S. for its top-rated Univision and UniMás broadcast networks and for its Las Estrellas and Canal 5 networks in Mexico. The company hosts 36 Spanish- language cable networks including the largest viewed Spanish-language sports network in the U.S. and Mexico, TUDN. The company also owns the popular Galavisión network.

Hemisphere Media Group Inc. (HMTV:NASDAQ) started off the day with a market cap of around $152.5 million with approximately 40.44 million shares outstanding. HMTV shares opened 80% higher today at $6.79 (+$3.02, +80.11%) over Friday’s $3.77 closing price. The stock has traded today between $6.685 and $6.82 per share and closed for trading at $6.74 (+$2.97, +78.78%).

 

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 decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Ophthalmic Med Tech. Firm Sees 166% Gain in LAL Implants

Source: Streetwise Reports   05/06/2022

Shares of RxSight Inc. traded 7% higher after the company reported Q1/22 financial results which highlighted a 157% YoY increase in revenue and a 208% increase in unit sales of its Light Delivery Devices (LDD™s) utilized in cataract surgery procedures to implant its RxSight Light Adjustable Lens® (LAL), which it says is “the world’s first and only adjustable intraocular lens (IOL) that is customized after cataract surgery.”

After U.S. markets closed on yesterday, RxSight Inc. (RXST:NASDAQ GS), a commercial-stage ophthalmic medical device company that is focused on improving vision of patients after they have undergone cataract surgery, announced financial results for the first quarter of 2022 ended March 31, 2022.

The company reported that revenue in Q1/22 increased by 157% to $8.94 million, compared to $3.84 million in Q1/21. The firm indicated that the increase was the result of a 149% year-over-year increase in Light Delivery Devices (LDD™) revenue and a 168% y-o-y increase in revenue from sales of its Light Adjustable Lenses (LAL®s).

The firm highlighted that it sold 40 LDDs in Q1/22, which was 208% more than in sold in Q1/21, bringing the total number of its installed units to 246 at the end of the quarter, compared to 105 installed LDDs at the end of Q1/21.

RxSight advised that during Q1/22, it sold 4,166 LALs, which represented a 166% increase over the number of procedures registered in the prior year’s corresponding quarter.

RxSight’s CEO and President Dr. Ron Kurtz remarked, “We are very pleased with our strong start to 2022…Solid revenue growth, driven by an expanding installed base and rising procedure volumes, confirms that an increasing number of doctors and patients are selecting our premium cataract solution for the significant advantages it provides.”

“We are confident in our ability to execute our growth strategy in 2022 and beyond by continuing to focus on our core strengths: exceptional visual outcomes across a range of patient types and preferences, a positive and interactive patient experience that achieves high satisfaction and a convincing value proposition for premium cataract practices and their patients,” Dr. Kurtz added.

The company stated that its gross profit in Q1/22 increased by 2.6 million to $3.7 million, compared to $1.1 million in Q1/21.

RxSight advised that during Q1/22 it posted a net loss of $17.6 million, or $0.64 per basic and diluted share, versus a net loss of $6.8 million, or $1.70 per basic and diluted share in Q1/21. The firm added that on an adjusted basis, it had a net loss in Q1/22 of $14.9 million, or $0.54 per share, compared to a net loss of $10.6 million, or $2.65 per share in Q1/21.

The company offered some forward guidance an advised that based upon the results it achieved in Q1/22, it has revised its FY/22 revenue guidance to $41.5-45.5 million, versus its previous guidance of $40-44 million. RxSight mentioned that the higher estimated revenue ranges imply an 101% annual revenue growth rate for FY/22.

The firm stated that it is maintaining its prior FY/22 estimates which call for a gross margin of 35-36% of revenue and operating expenses of $86-90 million.

RxSight is a commercial-stage ophthalmic medical technology firm based in Aliso Viejo, Calif. The company is focused on improving vision of patients who have undergone surgery to remove cataracts. The company advised that is working to revolutionize the premium cataract surgery process and experience through its efforts in commercializing what it claims is “the world’s first and only adjustable intraocular lens (IOL) that is customized after cataract surgery.” Following implantation, surgeons are able to effectively optimize visual acuity results for each and every unique eye treated.

The company stated that “its RxSight® Light Adjustable Lens system is comprised of the RxSight Light Adjustable Lens® (LAL), RxSight Light Delivery Device (LDD) and accessories.” The firm noted that its LAL now features a revolutionary UV protection layer built into the lens that incorporates ActivShield™ technology.

While there have been numerous and significant advances in cataract surgical methods and technologies there is still a need for improved technologies and lenses since as the company lists on its company website, only about six out of ten cataract patients achieve their targeted vision and a much smaller percentage achieve excellent vision at all distances due to the unpredictability of how a patient’s eye will heal prior to cataract surgery. The company further states that “in a study of 600 subjects, those who received the Light Adjustable Lens followed by adjustments were twice as likely to achieve 20/20 distance vision at 6 months without glasses as those who received a standard monofocal IOL.”

In addition, current alternative IOL technologies are not adjustable following surgery and the patient must be asked to make complex and difficult pre-operative choices about their vision preferences.

RxSight Inc. started the day with a market cap of around $291.6 million with approximately 27.49 million shares outstanding and a short interest of about 3.5%. RXST shares opened nearly 5% higher today at $11.13 (+$0.52, +4.90%) over yesterday’s $10.61 closing price. The stock traded today between $11.00 and $12.38 per share and closed for trading at $11.35 (+$0.74, +6.97%).

Disclosures

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 decision to publish an article until three business days after the publication of the 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.

How to Recognize a Less-Than-Obvious Opportunity (In focus: Corn)

Here’s a new, FREE report (valued at $49) that ensures you will do just that

By Elliott Wave International

When I was growing up, my father owned and operated a furniture manufacturing company. Its products stocked the shelves of several well-known retail stores across the country, including Walmart.

On the cover of one of his most popular products, a simple D.I.Y. end table, was a picture of the fully assembled table with a framed photograph of a smiling young girl holding a Persian cat. That young girl was me, and the cat was my childhood pet Princess.

Naturally one day the inevitable happened. My dad and I were shopping at Walmart, and we passed a woman with one of his boxed DIY tables in her cart. She looked at me, then at the face staring back at her on the cover of the box, and then again at me.

Visibly shaken, she braved her way over to my dad and asked if, in fact, I was the girl on the box. Without skipping a beat, he grinned and said he saw the resemblance but no, I was not her and we were on our way. I couldn’t help looking back to see the woman, standing there glued in place with an utterly baffled expression.

Out of earshot, I asked my dad why he lied. “Trust me,” he replied. “We don’t want your head getting so big we have to strap you to the roof of the car.”

Here’s the thing: Every day, “fundamental” analysts say they see the corresponding bullish or bearish news event reflected on the surface of a specific market’s fundamental “pool.”

Take, for example, the recent rally in corn prices to all-time record highs on April 26. Mainstream analysts cite one catalyst for the grain’s gains: The Ukraine war, seeing as Russia and Ukraine account for approximately 20% of the world’s corn exports.

From Aljazeera on April 8:

Russia and Ukraine, whose vast grain-growing regions are among the world’s main breadbaskets, account for a huge share of the globe’s exports in several major commodities, including wheat, vegetable oil and corn, their prices reached their highest levels ever last month.

But if you take a closer look at corn’s rally, you’ll see the gains began back in October 2021 — four months before Putin declared his “special military operation” in Ukraine on February 24.

In turn, the mainstreamers were looking at the wrong reflection; namely, that of “market fundamentals,” which only show you what’s behind, not ahead.

That’s where the Wave Principle steps in. For those new to the Wave Principle, it’s a form of technical analysis that uses chart patterns and other indicators to anticipate market turns.

It’s founded on these core observations:

  • Market trends are driven by correlate trends in collective investor psychology
  • Investor psychology progresses in 2 modes: impulsive and corrective
  • Identifying these patterns correctly can illuminate the near- and long-term path for prices

Recently, we asked three of our top analysts here at Elliott Wave International what pattern or indication they look for most to indicate an important change. The results were too good not to share — and turn into a FREE ($49 value) resource titled “5 Easy-to-Spot Chart Set-ups to Help You Nail Market Reversals.”

This 5-part, all-video collaboration is a masterclass in identifying and implementing these high-confidence arrangements.

Set-up #2 is taught by EWI analyst Jeffrey Kennedy and focuses on the Elliott wave pattern known as an ending diagonal, defined as:

“This is a terminating wave pattern that may form in the fifth wave position of an impulse or as wave C of an ABC formation. As you can see here, it consists of five waves, waves 1, 2, 3, 4, 5.

“This is why ending diagonals are so formidable. They tend to lead to sharp reversals in price back to beyond the origin of the pattern.”

(Jeffrey Kennedy is also the editor of several EWI subscription services including Trader’s Classroom and Commodity Junctures Service)

In his 5 Easy-to-Spot Chart Set-ups to Help You Nail Market Reversals video, Jeffrey shows you an example of an ending diagonal that occurred in gold prices back in 2013, which led to a $50/ounce drop.

We can also show you an example in the recent history of corn, one that set the stage for its powerful surge long before the Ukraine war began. Here, in his November 2021 Monthly Commodity Junctures, Jeffrey recognized this pattern in a terminating wave C and heeded its potential for signaling sharp, swift reversals:

“Basis the March contract, I believe we have an ending diagonal that terminated in October, so now the stage is set for further rallymoving forward to roughly $7 a bushel.

It’s going to be exciting watching this market continue to climb higher in the months ahead.

“I do expect corn … to make new highs above those we saw in May.”

In March, corn touched Jeffrey’s initial target. The March Monthly Commodity Junctures‘ Wave Watch segment presented a new forecast for the grain in which Jeffrey said he “will be looking for further rally up to 801.”

And this final chart captures the full range of grain’s magnificent gains.

Now you understand why the ending diagonal was included in our “5 Easy-to-Spot Chart Set-ups to Help You Nail Market Reversals” video, and why Jeffrey Kennedy was the chosen instructor for that video lesson.

In it, Jeffrey leaves no questions about this pattern unanswered, including:

  • Where they can occur
  • How to recognize them on a price chart
  • 2 cardinal rules pertaining to each subwave
  • And how to time reversals following the pattern

In turn, each of the five lessons from this FREE report are in the best possible hands. And so, you too will be.

Become part of our rapidly growing online Club EWI community and get instant access to the complete “5 Easy-to-Spot Chart Set-ups to Help You Nail Market Reversals” report.

Biopharma Co. Licenses Orphan Drug to UK Firm for $450M

Source: Streetwise Reports   05/05/2022

Intercept Pharmaceuticals Inc. shares traded 20% higher after the company reported it entered into a $450 million licensing agreement with Advanz Pharma in markets outside of the U.S. for Ocaliva® for use in treatment of primary biliary cholangitis, a progressive and chronic autoimmune disease which affects the liver.

Telemedicine

Biopharmaceutical company Intercept Pharmaceuticals Inc. (ICPT:NASDAQ), which concentrates its efforts on developing and commercializing medicines to treat non-viral liver diseases, today announced “it has entered into an agreement to sell to Advanz Pharma, a pharmaceutical company with a strategic focus on specialty and hospital pharmaceuticals in Europe, certain foreign subsidiaries and rights regarding Intercept’s international operations, including a license to commercialize Ocaliva® (obeticholic acid) outside of the U.S.”

Intercept Pharmaceuticals’ President and CEO Jerry Durso commented, “This agreement marks an important step forward for Intercept as the value it brings to our company allows us to significantly strengthen our balance sheet while providing us with greater strategic optionality during this transformational year and beyond…We are committed to investing in our core focus areas in the U.S., including our PBC business, potential future activities in NASH, and our advancing and expanding pipeline. At the same time, we are confident that the strong international team will continue to build on our successful PBC business as they transition to Advanz Pharma.”

Under the terms of the agreement that in aggregate is valued up to $450 million, Advanz Pharma is required to pay Intercept Pharmaceuticals an upfront payment of $405 million and an additional payment of $45 million if Advanz Pharma is successful in receiving an extension of pediatric orphan exclusivity in Europe.

In addition, Intercept will also be entitled to receive royalties on future net sales of obeticholic acid in nonalcoholic steatohepatitis (NASH) outside of the U.S. in the event that Advanz Pharma elects to pursue marketing authorization for this indication in areas outside of the U.S.

The agreement provides that Intercept will continue to be tasked with the global manufacture and supply of obeticholic acid with Advanz Pharma assuming responsibility for product packaging, distribution and marketing in its assigned territories.

The company noted that the most of its staff outside of the U.S. will be integrated into Advanz Pharma as employees though a small number of them will remain employees of Intercept.

Intercept stated that the transaction is expected to close within two to three months but remains subject to ordinary to closing conditions and regulatory requirements.

The company advised that the European Commission granted conditional approval for Ocaliva in combination with ursodeoxycholic acid (UDCA) and as a monotherapy for use in treatment of PBC. The firm stated that Ocaliva has now been approved in over 40 countries.

Intercept Pharmaceuticals is a biopharma firm based in Morriston, N.J. that focuses on developing and commercializing therapeutics for use in treating non-viral, progressive liver diseases such as primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH). The company has operations in the U.S., Canada and Europe.

The company explained that “Ocaliva® (obeticholic acid) is a farnesoid X receptor (FXR) agonist that is indicated for the treatment of adult patients with primary biliary cholangitis (PBC) without cirrhosis or with compensated cirrhosis who do not have evidence of portal hypertension, either in combination with ursodeoxycholic acid (UDCA) with an inadequate response to UDCA or as monotherapy in patients unable to tolerate UDCA.”

Advanz Pharma is headquartered in London and manages greater than 175 well products in over 75 countries. The company has a network of commercial partners worldwide and offers expertise in management, direct sales, marketing, and various medical capabilities. The firm has vast experience in the areas of anti-infectives, central nervous system, critical care, endocrinology and oncology.

Intercept started the day with a market cap of around $481.1 million with approximately 29.71 million shares outstanding and a short interest of about 27.7%. ICPT shares opened 19% higher today at $19.32 (+$3.13, +18.84%) over yesterday’s $16.19 closing price. The stock has traded today between $17.30 and $19.65 per share and is currently trading at $19.425 (+$3.235, +19.98%).

Disclosures

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 decision to publish an article until three business days after the publication of the 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.

Nonprofit drugmaker Civica Rx is taking aim at the high insulin prices harming people with diabetes

By Jing Luo, University of Pittsburgh Health Sciences 

Doctors have been treating diabetes with insulin since 1922. A century later, about 1 in 5 of the 37 million Americans living with diabetes take this medication – a hormone that helps cells absorb sugar from the blood.

This medication helps avert a host of medical problems including heart disease, kidney disease and stroke. Some 1.6 million Americans living with Type 1 diabetes, a condition in which people don’t produce any insulin, depend on it for their survival. So do millions more people with Type 2 diabetes – a condition in which the body doesn’t make enough insulin.

But an estimated 1 in 4 of the Americans who need it have so much trouble affording this lifesaving medication that they skimp on doses because insulin prices have been skyrocketing for years. For example, the full cost – not counting insurance coverage – of about one month’s worth of a commonly used kind of insulin called glargine has nearly tripled from US$99 in 2010 to $284 in 2022.

The exact amount Americans pay for insulin varies quite widely, depending on their insurance coverage and which version of the medication they’re prescribed.

Civica Rx, a nonprofit that manufactures generic drugs, is trying to help solve this problem. It’s planning to produce generic insulin for no more than $30 for a month’s worth of the drug at a factory being built in Petersburg, Virginia. Eventually the drugmaker intends to sell all three of the most popular kinds of insulin, starting in 2024 with glargine.

Based on my research regarding the pharmaceutical industry and my work as a doctor who treats patients with diabetes, I believe this effort, announced in March 2022, may greatly increase access to insulin for hundreds of thousands of people who need but can’t currently afford it.

Generic insulin competition is limited

Americans rely on robust competition from low-cost generic drugs to make pharmaceutical products more affordable. This system has historically been more successful with blockbuster drugs like atorvastatin – a cholesterol-controlling drug better known by the brand name Lipitor – and azithromycin – an antibiotic sold under the brand name Zithromax.

Unfortunately, this system has failed to restrain increases in insulin prices, which are far higher in the United States than other countries.

One reason this has been the case has to do with the fact that insulin is a biologic drug, meaning that it’s produced using DNA technology by living organisms. Biologic drugs are harder to manufacture and are regulated by the Food and Drug Administration in a different manner than more conventional drugs.

Seeing reasons for optimism

I’m excited about this initiative because it promises to increase access to all people who require insulin in the U.S., regardless of insurance status or where they buy medications.

One reason is that Civica Rx is a nonprofit that will be more able than private-sector drugmakers to put the interests of those who pay for insulin – patients and health insurers – ahead of investors’.

Another is its pricing strategy. Civica Rx plans to charge only about 20% of the list prices for brand-name insulin products. Walmart and some other big-box retailers already sell insulin at a discount, but their prices are still higher than what the nonprofit plans to charge.

And findings from my own research suggest that intellectual property protections will not likely be a substantial barrier to Civica’s efforts.

I’m also optimistic because of support from large insurers like Anthem and Blue Cross Blue Shield Association for this effort. It’s reassuring that Civica Rx’s leadership includes many people with decades of experience in the pharmaceutical industry and in health policy.

But I see some reasons to be less optimistic.

First, there have been prior attempts to manufacture generic insulin in the U.S. None have succeeded.

Another possibility is that brand-name insulin manufacturers may try to push doctors to prescribe newer patent-protected versions of insulin, which would be harder for Civica Rx to market as a generic – at least initially.

Success is far from guaranteed, given that the established players all have a strong financial interest in seeing Civica’s efforts fail.

Lawmakers are taking action

Several state legislatures have also tried to deal with this problem. Some have enacted laws mandating drug price transparency and provided funds to guarantee emergency access to insulin.

But to date these assorted responses have failed to lower prices for brand-name insulin products, although I think it’s possible that prices would have risen faster without them.

Congress is also responding.

Four weeks after Civica Rx announced its plans to produce insulin at well below current prices, the U.S. House of Representatives passed a bill that would limit insulin copays to $35 for insured patients. This measure was also in President Joe Biden’s stalled Build Back Better spending plan.

The House bill would leave out many patients – most notably the uninsured. But this measure would also mark a positive step should the Senate follow suit.

People living with insulin-dependent diabetes have been waiting a long time for someone to do something to make it more affordable. It looks like that time may finally be arriving.The Conversation

About the Author:

Jing Luo, Assistant Professor of Medicine, University of Pittsburgh Health Sciences

This article is republished from The Conversation under a Creative Commons license. Read the original article.

 

Analyst Says Avivagen Is a Strong Buy

Source: Clive Maund   05/05/2022

With Avivagen’s breakthrough product relishing in its success, Analyst Clive Maund reviews if he believes it is now a formidable contender as a Buy.

Considering that its main breakthrough product is enjoying record sales Avivagen Inc. (VIV:TSX.V; VIVXF:OTCQB)‘s stock has been sold down to an extraordinary degree as we can see on its latest 20-year chart below.

In recent months it has broken down and dropped still further to new lows and has fallen from over C$0.75 early last year to the current dismal price around 20 cents. Yet all the while its Accumulation has been strong and has made new highs, a divergence which suggests that the chances of its reversing to the upside soon are high, especially as things seem to be going well for the company with record sales of its core product.

A reason for the temporary low price is of course that the company is undertaking a funding exercise with the issue price at 20 cents, which is about where the stock is now. On 28th April the company came out with news that the first tranche of this funding has been completed for proceeds of over $1.5 million which, given that the funding aims to raise up to $5 million, implies that there may be another two such tranches in the pipeline. In any event, this explains the current low stock price and it is clear that once this funding is complete, and it may not very far from complete already, the stock price will be more free to advance.

Moving on to the much shorter-term seven-month chart we see that the downtrend in force from October has since November been quite orderly and it has brought the price down to a low level where a base pattern appears to have been forming above a clear line of support at the CA$0.18 level since mid-March. There are a number of bullish factors to observe on this chart that taken together make a convincing case for the stock advancing soon.

The first is that, although it has been trending lower since last October—November, its downside momentum has been steadily easing as can be ascertained from the MACD line which has been trending back up to the zero line. Next is that the still quite large gap between the price and the falling 200-day moving average is a measure of how oversold it still is. Most convincing of all, however, is the increasingly bullish volume pattern since it hit bottom in mid-March, with upside volume expanding to the point that really aggressive buying is kicking in, as happened several days ago, with the price now close to breaking out of its downtrend.

Lastly, it is worth looking at the recent base pattern briefly on the three-month chart where we can more comfortably see the bullish long-tailed candles that have formed right at the C$0.18 support line, starting with a big bull hammer on the 21st March. Volume since that time has been mostly upside volume which has just over the past week driven the Accumulation line, shown at the top of this chart, strongly higher, a positive sign.

The conclusion is that, whilst we may have to bide our time a little waiting for the remaining tranches of the funding to be taken up, the price at which this funding has been set seems to have forced the stock price down to an artificially low level, enabling us to accumulate it before the pressure comes off and it is free to advance, which the volume pattern and Accumulation line suggests is going to happen. It is therefore rated a strong buy here and furthermore this looks like a good one to go overweight on.

Originally posted on CliveMaund.com on May 3rd, 2022.

Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years’ experience in technical analysis and has worked for banks, commodity brokers, and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.

 

CliveMaund.com Disclosures

The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.

Disclosures:
1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family 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. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Avivigen Inc. Please click here for more information.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This 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 decision to publish an article until three business days after the publication of the 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 Inc. , a company mentioned in this article.

COT Futures: This Week’s Stock Market Charts

By InvestMacro | COT | Data Tables | COT Leaders | Downloads | COT Newsletter

Here are the latest charts and statistics for the Commitment of Traders (COT) data published by the Commodities Futures Trading Commission (CFTC).

The latest COT data is updated through Tuesday May 3rd 2022 and shows a quick view of how large traders (for-profit speculators and commercial entities) were positioned in the futures markets.

The stock markets that saw higher speculator bets this week were VIX (10,496 contracts), Dow Jones Industrial Average Mini (2,604 contracts), Nasdaq Mini (259 contracts) and the MSCI EAFE Mini (6,851 contracts). The markets with lower speculator bets this week were S&P500 Mini (-70,543 contracts), Russell 2000 Mini (-538 contracts), Nikkei 225 USD (-4,249 contracts) and the MSCI Emerging Markets Mini (-12,388 contracts).


Speculator strength standings for each Stock Market where strength index is current net position compared to past three years, above 80 is bullish extreme, below 20 is bearish extreme OI Strength = Current Open Interest level compared to last 3 years range Spec Strength = Current Net Speculator level compared to last 3 years range Strength Move = Six week change of Spec Strength


Data Snapshot of Stock Market Traders | Columns Legend
May-03-2022 OI OI-Index Spec-Net Spec-Index Com-Net COM-Index Smalls-Net Smalls-Index
S&P500-Mini 2,208,674 4 52,207 66 -58,797 55 6,590 28
Nikkei 225 11,749 0 -1,925 68 4,181 51 -2,256 0
Nasdaq-Mini 226,722 29 16,092 84 -6,367 23 -9,725 28
DowJones-Mini 79,448 41 -19,181 12 19,042 86 139 39
VIX 320,512 33 -61,729 78 69,674 23 -7,945 53
Nikkei 225 Yen 39,065 13 -4,440 11 21,337 81 -16,897 40

 


VIX Volatility Futures:

VIX Volatility Futures COT ChartThe VIX Volatility large speculator standing this week came in at a net position of -61,729 contracts in the data reported through Tuesday. This was a weekly gain of 10,496 contracts from the previous week which had a total of -72,225 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 78.3 percent. The commercials are Bearish with a score of 23.0 percent and the small traders (not shown in chart) are Bullish with a score of 52.8 percent.

VIX Volatility Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 18.0 53.4 7.4
– Percent of Open Interest Shorts: 37.2 31.7 9.9
– Net Position: -61,729 69,674 -7,945
– Gross Longs: 57,620 171,272 23,726
– Gross Shorts: 119,349 101,598 31,671
– Long to Short Ratio: 0.5 to 1 1.7 to 1 0.7 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 78.3 23.0 52.8
– Strength Index Reading (3 Year Range): Bullish Bearish Bullish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -1.7 1.6 0.5

 


S&P500 Mini Futures:

SP500 Mini Futures COT ChartThe S&P500 Mini large speculator standing this week came in at a net position of 52,207 contracts in the data reported through Tuesday. This was a weekly decrease of -70,543 contracts from the previous week which had a total of 122,750 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 65.9 percent. The commercials are Bullish with a score of 55.4 percent and the small traders (not shown in chart) are Bearish with a score of 27.7 percent.

S&P500 Mini Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 16.3 69.9 11.1
– Percent of Open Interest Shorts: 14.0 72.5 10.8
– Net Position: 52,207 -58,797 6,590
– Gross Longs: 360,949 1,543,020 245,017
– Gross Shorts: 308,742 1,601,817 238,427
– Long to Short Ratio: 1.2 to 1 1.0 to 1 1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 65.9 55.4 27.7
– Strength Index Reading (3 Year Range): Bullish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 19.7 -20.5 1.7

 


Dow Jones Mini Futures:

Dow Jones Mini Futures COT ChartThe Dow Jones Mini large speculator standing this week came in at a net position of -19,181 contracts in the data reported through Tuesday. This was a weekly rise of 2,604 contracts from the previous week which had a total of -21,785 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 11.9 percent. The commercials are Bullish-Extreme with a score of 85.8 percent and the small traders (not shown in chart) are Bearish with a score of 39.2 percent.

Dow Jones Mini Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 16.4 66.1 16.0
– Percent of Open Interest Shorts: 40.6 42.1 15.8
– Net Position: -19,181 19,042 139
– Gross Longs: 13,061 52,518 12,717
– Gross Shorts: 32,242 33,476 12,578
– Long to Short Ratio: 0.4 to 1 1.6 to 1 1.0 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 11.9 85.8 39.2
– Strength Index Reading (3 Year Range): Bearish-Extreme Bullish-Extreme Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: -5.4 4.3 4.3

 


Nasdaq Mini Futures:

Nasdaq Mini Futures COT ChartThe Nasdaq Mini large speculator standing this week came in at a net position of 16,092 contracts in the data reported through Tuesday. This was a weekly boost of 259 contracts from the previous week which had a total of 15,833 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 84.0 percent. The commercials are Bearish with a score of 22.6 percent and the small traders (not shown in chart) are Bearish with a score of 28.5 percent.

Nasdaq Mini Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 29.6 54.6 14.2
– Percent of Open Interest Shorts: 22.5 57.4 18.5
– Net Position: 16,092 -6,367 -9,725
– Gross Longs: 67,077 123,791 32,176
– Gross Shorts: 50,985 130,158 41,901
– Long to Short Ratio: 1.3 to 1 1.0 to 1 0.8 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 84.0 22.6 28.5
– Strength Index Reading (3 Year Range): Bullish-Extreme Bearish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 7.4 -14.2 20.1

 


Russell 2000 Mini Futures:

Russell 2000 Mini Futures COT ChartThe Russell 2000 Mini large speculator standing this week came in at a net position of -44,795 contracts in the data reported through Tuesday. This was a weekly decline of -538 contracts from the previous week which had a total of -44,257 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 29.9 percent. The commercials are Bullish with a score of 75.0 percent and the small traders (not shown in chart) are Bearish with a score of 25.7 percent.

Russell 2000 Mini Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 10.8 83.6 4.3
– Percent of Open Interest Shorts: 19.9 74.0 4.9
– Net Position: -44,795 47,415 -2,620
– Gross Longs: 53,619 413,078 21,398
– Gross Shorts: 98,414 365,663 24,018
– Long to Short Ratio: 0.5 to 1 1.1 to 1 0.9 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 29.9 75.0 25.7
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 1.8 -0.9 -3.6

 


Nikkei Stock Average (USD) Futures:

Nikkei Stock Average (USD) Futures COT ChartThe Nikkei Stock Average (USD) large speculator standing this week came in at a net position of -1,925 contracts in the data reported through Tuesday. This was a weekly lowering of -4,249 contracts from the previous week which had a total of 2,324 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 68.3 percent. The commercials are Bullish with a score of 50.6 percent and the small traders (not shown in chart) are Bearish-Extreme with a score of 0.0 percent.

Nikkei Stock Average Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 7.5 71.3 20.7
– Percent of Open Interest Shorts: 23.8 35.7 39.9
– Net Position: -1,925 4,181 -2,256
– Gross Longs: 877 8,372 2,436
– Gross Shorts: 2,802 4,191 4,692
– Long to Short Ratio: 0.3 to 1 2.0 to 1 0.5 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 68.3 50.6 0.0
– Strength Index Reading (3 Year Range): Bullish Bullish Bearish-Extreme
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 6.9 8.9 -40.4

 


MSCI EAFE Mini Futures:

MSCI EAFE Mini Futures COT ChartThe MSCI EAFE Mini large speculator standing this week came in at a net position of -1,409 contracts in the data reported through Tuesday. This was a weekly rise of 6,851 contracts from the previous week which had a total of -8,260 net contracts.

This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 21.9 percent. The commercials are Bullish with a score of 78.4 percent and the small traders (not shown in chart) are Bearish with a score of 45.3 percent.

MSCI EAFE Mini Futures Statistics SPECULATORS COMMERCIALS SMALL TRADERS
– Percent of Open Interest Longs: 4.8 92.0 2.4
– Percent of Open Interest Shorts: 5.2 92.4 1.7
– Net Position: -1,409 -1,604 3,013
– Gross Longs: 19,862 378,067 9,917
– Gross Shorts: 21,271 379,671 6,904
– Long to Short Ratio: 0.9 to 1 1.0 to 1 1.4 to 1
NET POSITION TREND:
– Strength Index Score (3 Year Range Pct): 21.9 78.4 45.3
– Strength Index Reading (3 Year Range): Bearish Bullish Bearish
NET POSITION MOVEMENT INDEX:
– 6-Week Change in Strength Index: 3.4 -10.5 45.3

 


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*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) as well as their open interest (contracts open in the market at time of reporting).See CFTC criteria here.