Escalating tensions between the U.S. and Iran are likely to drive the price of Bitcoin higher, affirms the CEO of one of the world’s largest independent financial services and advisory organizations.
The comments from Nigel Green, the chief executive and founder of deVere Group, come as Tehran threatens “revenge” on the U.S. over the killing of Qassem Soleimani, the commander of Iran’s elite Quds Force, who was in charge of the country’s regional security strategy.
It remains uncertain how, when, or if Iran will respond, but any retaliation is unlikely until after the end of three days of mourning.
Mr Green notes: “Bitcoin, the world’s largest cryptocurrency by market capitalization, jumped 5 per cent as news of the strikes broke around the world on Friday. Simultaneously, the price of gold – known as the ultimate safe-haven asset – also moved higher.
“We’ve seen Bitcoin price surges before during times of heightened geopolitical tensions. For instance, in August it jumped as global stocks were rocked by the devaluation of China’s yuan during the trade war with the U.S.
“This latest Bitcoin price increase underscores a mounting consensus that Bitcoin is becoming a flight-to-safety asset.
“Bitcoin is living up to its reputation as ‘digital gold’. Bitcoin – which shares gold’s characteristics of being a store of value and scarcity and of being perceived as being resistant to inflation – could potentially dethrone gold in the future as the world becomes increasingly digitalized.”
He continues: “With an escalation in geopolitical turbulence, which typically unsettles traditional markets, it can be expected that a growing number of investors will decide to increase their exposure to decentralized, non-sovereign, secure currencies, such as Bitcoin, to help protect them from the turmoil.
“The serious concerns created by geopolitical issues, such as the U.S.- Iran issue will likely prompt an increasing number of institutional and retail investors to diversify their portfolios and hedge against those risks by investing in crypto assets.
“This will push the price of Bitcoin higher. In turn, due to the market influence of Bitcoin, other major digital currencies will receive a price boost.”
The deVere CEO concludes: “Bitcoin was one of the best-performing assets of 2019 and we can expect to see its investment appeal further strengthen as it becomes known as a safe-haven asset during periods of heightened geopolitical tensions.”
About:
deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement
The DAX30 CFD had a prosperous start for the new year, but gave surrendered all its gains and more last Friday.
The main driver for this bearish action came from recent developments in the Middle East last Friday, when the Pentagon launched an airstrike that killed Iranian commander Soleimani, sparking fears that a war between the US and Iran could be about to start, increasing chances of a broad risk-off mode and break below 13,000 points on the table.
In addition to that, White House advisor Peter Navarro mentioned during his CNBC interview that the US is “going to try to get something going with Great Britain, Vietnam, Europe and anybody else who wants to fairly trade with the United States of America”.
If, based on these comments, speculation among market participants infer that Europe could be attacked with tariff announcement from the US in the near future, the German index could quickly see further selling pressure.
On the other hand; as the Fed to continues to flood markets with liquidity in the hopes of avoiding avoid a funding crisis, particularly in the repo market, (and will thus extend the Fed balance sheet to new record highs by mid-January) the downside should be limited and only a drop below 13,080/100 points would significantly darken the technical picture on H1.
The main focus on the upside stays on 13,480/500 points, and a break higher should be considered clearly bullish, making a test of the current all-time highs around 13,600 points likely:
Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Hourly chart (between December 10, 2019, to January 3, 2020). Accessed: January 3, 2020, at 10:00pm GMT
Source: Admiral Markets MT5 with MT5-SE Add-on DAX30 CFD Daily chart (between September 20, 2018, to January 3, 2020). Accessed: January 3, 2020, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance.
In 2015, the value of the DAX30 CFD increased by 9.56%, in 2016, it increased by 6.87%, in 2017, it increased by 12.51%, in 2018, it fell by 18.26%, in 2019, it increased by 26.44% meaning that after five years, it was up by 34.2%.
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Oil trading above $70 on fears of supply disruption
Gold approaching $1,600 as investors flee to safe havens
Equities across the globe to trade in the red on Monday
2020 was supposed to be the year where the global economy bounces back to life after the US and China trade tensions thawed and investors got more clarity around Brexit. Events over the last week have undoubtedly put this outlook at risk. The US killing of a top Iranian military commander in Iraq is not likely to stop a war as President Trump claims, instead this act could set off new conflicts in the Middle East that may have global consequences.
Over the weekend, Iraq’s parliament voted to expel US troops, Iran announced it will no longer adhere to the 2015 nuclear deal limits and three Americans were killed in Kenya in an attack on a military base by a jihadist group. While no one knows what will happen next, investors have pushed oil above $70, up $4 since the conflict started, and gold has surged to its highest levels in more than six years.
In September, a drone attack on Saudi Arabia’s Abqaiq crude-processing plant sent Brent prices 20% higher, but those gains were rapidly reversed as production was quickly restored and markets saw it as a short-term risk event. In the current environment, it’s hard to tell whether we’ll see a larger disruption in oil supplies that could send prices much higher.
Interestingly, we note some investors are buying call options near $100 to insure or profit from massive price spikes. They are predicting that Iran will target shipping in the Strait of Hormuz, which is responsible for a fifth of the world’s oil supply flow. If this strait is blocked, even for a short period, it will lead to prices skyrocketing. At $70-$80 a barrel, the global economy is not likely to feel much impact from this rise in prices, but as we get closer to $100 there will be severe consequences, which would trigger steep selloffs in equity markets.
Another asset benefiting from escalating Iran-US tensions is gold. The yellow metal has breached last year’s high and resistance level of $1,557 and looks to be heading towards the psychological level of $1,600. In times of political and market uncertainty, there is no better alternative to buying gold and despite looking overbought on the charts, the rally will continue as long as uncertainty stays high.
Investors will remain on the defensive today and expect equities in Europe and the US to follow Asian markets lower as everyone now awaits a possible retaliatory response by Iran. This may not be an immediate one, but rather a protracted event which investors need to carefully calculate when determining their portfolio’s risk.
Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.
US stock market pulled back on Friday after news the US airstrike killed Iran’s military commander. The S&P 500 slid 0.7% to 3234.85, booking 0.2% loss for the first trading week. Dow Jones industrial lost 0.8% to 28634.8. The Nasdaq fell 0.8% to 9020.77. The dollar strengthening slowed after weaker than expected US manufacturing report. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.1% to 96.86 but is lower currently. Futures on stock indexes point to lower openings today.
DAX 30 fall leads European stocks retreat
European stocks retreated on Friday. Both UR/USD and GBP/USD continued their declines on Friday with both pairs gaining currently. The Stoxx Europe 600 Index slid 0.3% led by airline and travel stocks. The DAX 30 fell 1.3% Friday to 13219.14 with report unemployment in Germany rose more than expected in December providing little support. France’s CAC 40 however edged up 0.04% and UK’s FTSE 100 advanced 0.2% to 7622.40.
Nikkei leads Asian Indexes retreat
Asian stock indices are mostly lower today after President Trump on Sunday threatened a “major retaliation” against Iran if Tehran takes any action after vowing a “hard revenge awaits criminals” following US airstrike that killed its top general. Nikkei dropped 1.9% to 23204.86 after reopening in the new year despite resumed yen slide against the dollar. China’s markets are falling after a report China’s services sector expanded at a slower pace in December: the Shanghai Composite Index is 0.01% lower and Hong Kong’s Hang Seng Index is down 0.9%. Australia’s All Ordinaries Index however gained 0.03% with Australian dollar climb against the greenback resumed.
Brent futures prices are edging lower currently after extending gains today. Prices jumped on Friday after US airstrike killed Iranian military commander. Energy Information Administration reported that US crude supplies fell by above expected 11.5 million barrels last week: Brent for March settlement added 3.6% to $68.60 a barrel Friday. Saudi Aramco shares fell as low as 34.45 riyals ($9.18) in early trade today. It is their lowest level since Aramco shares began trading on December 11. They have lost almost 11% since hitting a high of 38.70 riyals. The IPO was priced at 32 riyals per share, valuing Aramco at $1.7 trillion, making it the world’s most valuable company.
Gold rallies
Gold prices are inching lower after hitting near seven year high today. Prices ended near four month high on Friday on heightened haven asset demand : February gold added 1.6% on Friday.
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The design of and an opinion on the included studies are provided in an H.C. Wainwright & Co. report.
In a Dec. 30 research note, H.C. Wainwright & Co. analyst Ram Selvaraju reported that BioXcel Therapeutics Inc. (BTAI:NASDAQ) launched its pivotal trial program for BXCL501, an acute treatment for agitation in patients with schizophrenia and bipolar disorder.
Selvaraju explained the program and trial design. This SERENITY (Sublingual dExmedetomidine in agitation associated with schizophRENIa and bipolar disorder sTudY) program of BioXcel will consist of two Phase 3 studies, topline results from which are expected in mid-2020. Randomized, double blinded and placebo controlled, these trials will include up to 750 patients, aged 18 to 75 years.
SERENITY I will evaluate BXCL501 in patients with schizophrenia-associated agitation whereas SERENITY II will assess it in patients with bipolar disorder-associated agitation. Both I and II will consist of three cohorts, each of which will receive either BXCL501 120 micrograms, BXCL501 180 micrograms or a placebo.
The primary endpoint, Selvaraju noted, will be reduction of acute agitation symptoms measured via the change in the PANSS excited component (PEC) from baseline, compared to that with placebo. “We consider the PEC scale a validated endpoint and believe that statistically significant impact on this endpoint ought to constitute appropriate evidence to support regulatory approval and demonstrate clinical meaningfulness,” added the analyst.
The key secondary endpoints of both SERENITY studies include delineating the earliest time an effect on agitation is seen, as measured by the change from baseline in the total PEC score.
Finally, Selvaraju commented that “BXCL501 is a rapidly acting agent being developed in a number of acute care indications; accordingly, we believe this program could constitute a near-term value driver.” Further, if the SERENITY trials yield positive results, they could support the filing of a new drug application (NDA) for BXCL501 through the 505(b)(2) regulatory route. As such, BioXcel could file that NDA in H2/20.
H.C. Wainwright & Co. has a Buy rating and a 12-month target price of $25 per share on BioXcel, whose stock is now trading at around $13.60 per share.
Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. 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: 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.
Disclosures from H.C. Wainwright & Co., BioXcel Therapeutics, Inc., Company Update, December 30, 2019
Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months.
I, Raghuram Selvaraju, Ph.D., certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.
None of the research analysts or the research analyst’s household has a financial interest in the securities of BioXcel Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position).
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These topline data and next steps for the therapeutic are reviewed in a Ladenburg Thalmann report.
In a Dec. 30 research note, analyst Matthew Kaplan reported that Ladenburg Thalmann increased its price target on Buy-rated Axsome Therapeutics Inc. (AXSM:NASDAQ) to $165 per share from $135 following “robust” results from the biopharma’s Phase 3 AXS-07 MOMENTUM trial in migraines in difficult to treat patients. Axsome’s current share price, in comparison, is about $101.31.
These Phase 3 data increase the likelihood that the U.S. Food and Drug Administration (FDA) approves AXS-07, Kaplan commented. Axsome intends to file a new drug application with the FDA for AXS-07 in H2/20. Before that date, in Q1/20, topline results will be available from the AXS-07 INTERCEPT Phase 3 trial in migraines.
The analyst reviewed the study’s outcome. The topline efficacy results were “impressive,” he added, demonstrating “rapid, durable and highly statistically significant improvements in primary and secondary endpoints evaluated.” The fact that Axsome achieved these results in patients with a history of inadequate response to prior acute treatments is “even more remarkable.”
The two primary endpoints were freedom from pain and freedom from the most bothersome symptom, either photophobia, phonophobia or nausea, both at two hours post treatment. AXS-07 resulted in a 19.9% rate of pain relief at two hours versus 6.7% for placebo and a 36.9% rate of relief from the most bothersome symptom compared to 24.4% with placebo.
The secondary endpoints were superiority of AXS-07 over the individual components, rizatriptan and MoSEIC meloxicam, based on sustained pain relief two to 24 hours after dosing. “Overall, AXS-07 showed clear superiority over rizatriptan as it demonstrated statistically significant results for one-hour pain relief, two- to 24-hour sustained pain relief, two- to 48-hour pain relief, two- to 24-hour sustained pain freedom, two- to 48-hour sustained pain freedom, patient global impression of change, functional improvement at 24 hours and use of rescue medications,” explained Kaplan.
He noted further that AXS-07 proved to be safe and was well tolerated. The most frequently experienced adverse events were nausea, dizziness and somnolence, which occurred as often or less often as that with a placebo.
Kaplan concluded that “AXS-07’s multimechanistic modes of action represent an attractive novel treatment option in both the frontline and refractory migraine treatment settings.”
Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. 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: 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.
Disclosures from Ladenburg Thalmann, Axsome Therapeutics Inc., December 30, 2019
ANALYST CERTIFICATION: I, Matthew L. Kaplan, attest that the views expressed in this research report accurately reflect my personal views about the subject security and issuer. Furthermore, no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report, provided, however, that:
The research analyst primarily responsible for the preparation of this research report has or will receive compensation based upon various factors, including the volume of trading at the firm in the subject security, as well as the firms total revenues, a portion of which is generated by investment banking activities.
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Ladenburg Thalmann & Co. Inc. makes a market in Axsome Therapeutics, Inc. Ladenburg Thalmann & Co. Inc. has managed or co-managed a public offering for Axsome Therapeutics, Inc. within the past 12 months. Ladenburg Thalmann & Co. Inc. expects to receive compensation for investment banking and/or advisory services from Axsome Therapeutics, Inc. within the next 3 months. Ladenburg Thalmann & Co. Inc. intends to seek compensation for investment banking and/or advisory services from Axsome Therapeutics, Inc. within the next 3 months. Ladenburg Thalmann & Co. Inc received compensation for investment banking services from Axsome Therapeutics, Inc. within the past 12 months. Ladenburg Thalmann & Co. Inc had an investment banking relationship with Axsome Therapeutics, Inc. within the last 12 months. Ladenburg Thalmann & Co Inc. acted in an advisory capacity for Axsome Therapeutics, Inc. in the last 12 months. Matthew L. Kaplan, or a member of their household, has a financial interest in the securities of Axsome Therapeutics, Inc. (AXSM) in the form of (long position in common). The research analyst principally responsible for the preparation of this research report, or a member of their household, has a financial interest in the securities of Axsome Therapeutics, Inc. in the form of a long position in common stock.
The result and what it means for a neighboring energy firm are provided in a Pareto Securities report.
In a Jan. 2 research note, Pareto Securities analyst Tom Eric Kristiansen reported that an energy company with property adjacent to that of Eco Atlantic Oil & Gas Ltd. (EOG:TSX.V; ECAOF:OTCMKTS; ECO:LSE) in offshore Guyana, Tullow Oil, hit oil in an exploration well.
Kristiansen relayed that Tullow’s Carapa-1 well encountered 4 meters of net pay with high-quality 27-degree API oil. That net pay interval, though smaller than anticipated, demonstrates that “the Cretaceous oil play extends into Tullow’s acreage in the region,” which includes Eco Atlantic’s adjacent Orinduik block, he explained.
Eco Atlantic has not yet announced a drill program for Orinduik, a block with more than 1 billion barrels of oil equivalent of derisked potential, Kristiansen noted. However, when it does pursue drilling there, the Toronto-based oil and gas explorer will likely encompass in its campaign “one or more wells targeting this potential.”
Pareto Securities has a Buy recommendation and a GBp100 per share target price on Eco Atlantic. It is currently trading at around GBp57.
Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. 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: 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.
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Shares of Leap Therapeutics jumped 60% after the company reported that it signed an exclusive option and license agreement for its immuno-oncology drug DKN-01 with BeiGene in the Asia Pacific region excluding Japan. The firm also secured an additional $27 million in equity financing from BeiGene and two other investment groups.
This morning biotech company Leap Therapeutics Inc. (LPTX:NASDAQ) and commercial-stage biopharmaceutical firm BeiGene Ltd. (BGNE:NASDAQ; 06160:HKEX), which is focused on developing and commercializing innovative molecularly targeted and immuno-oncology drugs for the treatment of cancer, announced “an exclusive option and license agreement for the clinical development and commercialization of DKN-01, Leap’s anti-Dickkopf-1 (DKK1) antibody, in Asia (excluding Japan), Australia, and New Zealand.” The report indicated that Leap will retain all development, manufacturing, and commercialization rights for DKN-01 in the rest of the world. Leap additionally advised that it has entered into a $27 million equity financing agreement with BeiGene and two other institutional investors.
The report indicated that under the terms of the agreement, “Leap will receive an upfront cash payment of $3 million from BeiGene in exchange for granting BeiGene an option to an exclusive license to develop and commercialize DKN-01 in Asia (excluding Japan), Australia, and New Zealand, and will be eligible to receive an additional payment from BeiGene upon BeiGene’s exercise of the option following initial proof-of-concept studies.” If certain development, regulatory and sales milestones are met the licensing deal’s value could increase to as much as $132 million along with tiered royalties on product sales of DKN-01 in the licensed territories. BeiGene will also invest $5 million in Leap as part of the $27 million equity financing plan, which is projected to close on or before January 8, 2020.
Leap Therapeutics’ President and CEO Christopher K. Mirabelli, Ph.D., commented, “Securing a collaboration to further develop DKN-01 has been our top strategic priority, and we are excited to begin working with BeiGene, a global leader in oncology…BeiGene is the ideal partner for Leap given its extensive experience in the development of oncology drugs throughout Asia Pacific, where its expertise and product breadth can help us in our efforts to address serious unmet medical needs in esophagogastric, gynecologic, and other cancers.”
Yong (Ben) Ben, M.D., chief medical officer, immuno-oncology at BeiGene, added, “We are excited about the potential to combine our anti-PD-1 inhibitor tislelizumab with DKN-01 as there have been promising signals in a biomarker-defined population of gastric cancer patients in combination with checkpoint blockade…This collaboration with Leap is another example of our commitment to developing novel treatments to address unmet medical needs in Asia and around the world.”
Leap Therapeutics is headquartered in Cambridge, Mass., and focuses primarily on developing targeted and immuno-oncology therapeutics. The firm’s monoclonal antibodies are designed to target key cellular pathways that enable cancer to grow and proliferate, known as cancer cell signaling, and pathways that help the body’s immune system to identify and treat cancer. The company states that “its most advanced clinical candidate, DKN-01, is a humanized monoclonal antibody targeting the Dickkopf-1 protein, a Wnt pathway modulator and that DKN-01 is in clinical trials in patients with esophagogastric, hepatobiliary, gynecologic, and prostate cancers.”
BeiGene was established in Beijing, China, in 2010. The company employs 3,300 people in China, the U.S., Australia and Europe and also has corporate offices in the Cayman Islands. The firm describes its business as a “global, commercial-stage, research-based biotechnology company focused on molecularly-targeted and immuno-oncology cancer therapeutics that is advancing a pipeline consisting of novel oral small molecules and monoclonal antibodies for cancer.” The company’s main products include Zanubrutinib (BGB-3111), Tislelizumab (BGB-A317) and Pamiparib (BGB-290). The firm also markets several pharmaceutical products in China licensed from Celgene Corp. including ABRAXANE, REVLIMID and VIDAZA.
Leap Therapeutics began the day with a market capitalization of approximately about $25.6 million with about 24.2 million outstanding shares. LPTX shares opened nearly 36% higher today at $1.44 (+$0.38, +35.89%) over yesterday’s $1.06 closing price. The stock has traded today between $1.32 and $1.95 per share on very high volume and currently is trading at $1.68 (+$0.62, +58.54%).
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This week – January 5 through January 11 – central banks from 5 countries or jurisdictions are scheduled to decide on monetary policy: Romania, Poland, Serbia, Israel and Peru. Following table includes the name of the country, the date of the next policy decision, the current policy rate, the result of the last policy decision, the change in the policy rate year to date, and the rate one year ago.
The table is updated when the latest decisions are announced and can always accessed by clicking on This Week.
One of our most interesting predictive modeling system is the Adaptive Dynamic Learning (ADL) price modeling system. It is capable of learning from past price data, building price DNA chains and attempting to predict future price activity with a fairly high degree of accuracy. The one thing we’ve learned about the ADL system is that when price mirrors the ADL predictive modeling over a period of time, then there is often a high probability that price will continue to mirror the ADL price predictions.
One of our more infamous ADL predictions was our October 2018 Gold ADL prediction chart (below). This chart launched a number of very interesting discussions with industry professionals about predictive modeling and our capabilities regarding Adaptive Learning. Eric Sprott, of Sprott Money, highlighted some of our analyses related to the ADL predictive modeling system in June and July 2019. Our ADL predictive modeling system suggested a bottom would form in Gold near April/May 2019 and then Gold would rally up toward $1600 by September 2019, then rotate a bit lower near $1550 levels.
October 2018 Gold Forecast
Current 2020 Gold Forecast
This next chart shows what really happened with Gold prices compared to the ADL predictions above. It is really hard to argue that the ADL predictions from October 2018 were not DEAD ON accurate in terms of calling and predicting the future price move in Gold. Will the ADL predictions for the NQ play out equally as accurate in predicting a downward price rotation of 1000pts or more?
Current 2020 NASDAQ Forecast
This NQ Weekly chart shares out ADL Predictive Modeling systems results originating on September 23, 2019. The Price DNA markers for this analysis consist of 15 unique price bars suggesting the future resulting price expectations are highly probable outcomes (95% to 99.95%). This analysis suggests the end of 2019 resulting in a broad market push higher in early 2020 may come to an immediate end with a downward price move of 800 to 1000+ pts before January 20~27, 2020. The ADL predictive modeling system is suggesting price will be trading near 8000 by January 20th or so.
Only time will tell in regards to the future outcome of these ADL predictions, but given the current news of the US missile attack in Iraq and the uncertainty this presents, it would not surprise us to see the NQ fall below the 8000 level as this euphoric price rally rotates to find support before moving forward in developing a new price trend.
Pay attention to what happens early next week with regards to price and understand the 8000 level will likely be strong support unless something breaks the support in the markets over the next 30+ days. Ultimate support near 7200 is also a possibility if a deeper downside move persists.
As we’ve been warning for many months, 2020 is going to be a fantastic year for skilled technical traders. You won’t want to miss these opportunities in precious metals, stocks, ETFs and others.
I am going to give away and ship out silver rounds to anyone who buys a 1-year, or 2-year subscription to my Wealth Trading Newsletter. You can upgrade to this longer-term subscription or if you are new, join one of these two plans listed below, and you will receive:
