I hope everyone had a good Thanksgiving. This was my first Thanksgiving without a living parent but they were with us in spirit so we had a good time despite recent sadness. My girlfriend lost her father a few weeks ago so it was especially tough. Death reminds us family is far more important than money which somehow puts the recent market pain in proper perspective. We had a good time laughing about 401Ks becoming 201Ks.
News of note:
Inverse Head and Shoulders bottom pattern (Head and Shoulders Bottom definition) on the S&P500 futures:
- It looks like the S&P500 futures are testing the inverse head and shoulders breakout pattern from above. If the neckline around 850-860 holds and turns up with volume, than this would be very bullish as more money should come into the market.
- If the neckline is penetrated with volume, then the head and shoulder bottom continuation (of the rally from the low) pattern is negated and we look for a new pattern, perhaps a test of the November lows.
What amuses me about chart reading is they almost always end up saying "we go up unless we go down!"
NNVC (Charts): Armed Forces Institute of Pathology to Conduct NanoViricides Animal Studies against Bird Flu
WEST HAVEN, Conn.--(BUSINESS WIRE)--NanoViricides, Inc. (OTC BB: NNVC.OB) (the "Company"), announced today that they have executed a Cooperative Research and Development Agreement (CRADA) with the Armed Forces Institute of Pathology (AFIP). This joint R&D effort will enable AFIP scientists to test the effectiveness of several NanoViricides, Inc. anti-viral nanomedicines against deadly bird flu viruses (H5N1) at their facilities.
“We are very excited to study the effectiveness of nanoviricides against the most current strains of H5N1 in animal models,” said lead AFIP scientist Dr. Mina Izadjoo.
The H5N1 bird flu virus continues to spread further across the globe every year, while continuing to mutate. The accumulating mutations make a human pandemic ever more likely. Because the virus is continually changing its genomic structure, creating a vaccine against it is very difficult. It has been predicted that six to nine months will be needed to produce an effective vaccine in the case of a pandemic. Broad-spectrum antivirals that continue to be effective in the face of the mutations in the virus strain will therefore be essential for any effective response to a pandemic.
CNBC Bonus Bucks Contest trivia answers
- Weekly Question for week #3: Calls give you the right to?
- Answer Week 3: Buy the stock at the strike price
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