Monday’s Markets Fly To Record Highs While Apple, Axsome Therapeutics & Neubase Therapeutics Soar

The broad markets on Monday moved on to new record highs flying on the wings of a number of economic events including the tentative Phase One agreement in the US-China trade war, the United States, Mexico, and Canada agreed to amend a North American trade deal, China’s better than expected industrial production and retail sales figures, and positive US economic data.  In the US the NAHB Housing Market Index for December rose to 76 jumping from 69 in November & the Empire State Manufacturing Survey for December also rose to 3.5.

As a result, the S&P 500, Dow & Nasdaq Composite ended at new record highs. The S&P 500 ended the day up +.71%. The Nasdaq Composite gained +.91% as Apple (AAPL) rose +4,76% ending at $279.86/share after hitting a new record high of $280.79. The Dow Jones Industrial Average ended up +.36% as Dow component Walt Disney (DIS) closed at $148.46, +1.42%. The Russell 2000 moved higher +.73% at the close of trading Monday. The “fear gauge” Vix (TVIX) ended significantly lower again at $52.14/share at the close of trading down -4.78% putting yet another nail into the bears.

Economic Reports

On Monday we received the NAHB Housing Market Index for December rose to 76 jumping from 69 in November & the Empire State Manufacturing Survey for December also rose to 3.5.

Investing & Inspiration

Trading is a waiting game. You sit, you wait, and you make a lot of money all at once. Profits come in bunches. The trick when going sideways between home runs is not to lose too much in between.
-Michael Covel

Tomorrow

I added Travena, Inc. (TRVN) in the $.75/share range this week and are looking for the continued turn up of shares beginning Monday. The 52-week range is $.38-$2.  On December 12, Trevena, a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders,  announced a poster presentation at the 58th Annual Meeting of the American College of Neuropsychopharmacology (ACNP), in Orlando, FL. The poster presentation featured results from a Phase 1 first-in-human study that evaluated the safety, tolerability, and pharmacokinetics (PK) of TRV250, the Company’s novel G protein-selective delta-receptor agonist being developed for the acute treatment of migraine. TRV250 was well-tolerated up to 30 mg, with a PK profile appropriate for an acute migraine therapy. There were no serious adverse events and no clinically significant changes in EEG, ECG, or other safety parameters. Mark A. Demitrack, M.D., Senior Vice President and Chief Medical Officer of Trevena, Inc. Mark A. Demitrack, M.D., Senior Vice President and Chief Medical Officer of Trevena, Inc. stated, “We are excited to be pursuing TRV250 as a potential new therapeutic option for migraine sufferers, many of whom struggle to achieve relief with currently available options. The positive data from this Phase 1 study informed our recently initiated proof-of-concept study, with topline data anticipated in the second half of next year.”