80 Proof

"Oil bulls have to be 80 anxious."

Oil traders may need a stiff drink after the wild end to Tuesday's trading session. Something strong like 80 proof or at the very least—proof that oil can close above 80. Oil prices failed to remain in octogenarian territory after a slow, relentless creeping rally that rejected a test of $81 and reverses all the way back into the 79 handle. Oil prices seem to creep higher all day in kind of a confused session as the market ticked one level of buy stops after another. Some said that oil was following the stock market. Other said that the stock market as following oil. Some said gold was following oil yet it was obvious there was no real consensus as to the nature of the strength and was probably the reason oil failed to be a Star 80.

That is not to say that there was not some bullish news. Some tried to say that because of power outages in post-earthquake Chile that refineries being shut would lead to a surge in imports. Products did seem to lead the rally. We also had a couple of US refinery glitches and hiccups that probably helped petroleum products along the way.

We also had reports from OPEC member UAE, which warned that demand for OPEC crude oil might fall by 100,000 bpd. The comments by UAE oil minister Mohamed Al-Hamli raised some concern that OPEC may take a harder look at their compliance to production quotas at their upcoming St. Patrick's Day meeting.

Oil bulls have to be 80 anxious. Oil has failed many time ~$80 a barrel and makes this a key resistance. You can only fail at this area so many times before the momentum shifts. Oil has been trying to trend higher; yet the daily ranges offer better opportunities than just a simple long or short position. If oil cannot close above $80 by the end of this week, more than likely it will start probing the lower end of the range near $70.

Align Technology Shares Grind 12.5% Higher after Firm Posts Record Q4 Revenue of $834.5 Million
Source: Streetwise Reports (02/04/2021)

Align Technology shares set a new 52-week high after the company announced financial results that included record FY/20 total revenues of $2.5 billion.

Small-Cap Psychedelic Wellness Company Makes First Acquisition: Ketamine Infusion Centers
Source: Streetwise Reports (02/04/2021)

DELIC aims to become a leader in psychedelic health and wellness clinics.

GW Pharmaceuticals Shares Gain 46% on $7.2 Billion Acquisition by Jazz Pharmaceuticals
Source: Streetwise Reports (02/03/2021)

Shares of GW Pharmaceuticals reached a new 52-week high after the company reported it agreed to be acquired by Jazz Pharmaceuticals in a combination cash and stock deal for $220.00 per share.

Shares of Cassava Sciences traded 207% higher after the firm provided an interim analysis from an ongoing study demonstrating that simufilam improves cognition and behavior in mild-to-moderate Alzheimer's disease patients.

Viela Bio Shares Rise 52% on $3.05 Billion Buyout by Horizon Therapeutics
Source: Streetwise Reports (02/01/2021)

Shares of Viela Bio traded higher after it was announced that the company entered into a definitive agreement to be acquired by Horizon Therapeutics for $53.00 per share.

Algernon Pharmaceuticals, a clinical stage pharmaceutical development company, announced that it has established a clinical research program for the treatment of stroke focused on AP-188 (DMT), a known psychedelic compound. Algernon plans to be the first company globally to pursue DMT for stroke in humans and is planning to begin a clinical trial as soon as possible in 2021.

Novavax Shares Shoot 65% Higher on Phase 3 COVID-19 Vaccine Trial's 89.3% Effectiveness
Source: Streetwise Reports (01/29/2021)

Novavax Inc. shares established a new 52-week high after the firm's COVID-19 vaccine demonstrated an 89.3% efficacy rate in a Phase 3 trial in the U.K. and also showed efficacy against the South African variant in a Phase 2b trial.

Abiomed Shares Gain 8% After Firm Announces Record Q3 Revenue of $232 Million
Source: Streetwise Reports (01/28/2021)

Shares of cardiac medical device maker Abiomed Inc. traded higher after the company reported record revenue for Q3/21 despite the impact from COVID-19.

Sorrento Shares Rise 35% After Firm Posts Positive Data from Phase 1b ICU COVID-19 Trial
Source: Streetwise Reports (01/27/2021)

Shares of Sorrento Therapeutics traded higher after the company released positive preliminary results from it of Phase 1b COVI-MSC™ Study for treatment of hospitalized ICU COVID-19 patients.

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.