Release the Reserves

Sponsored By April 1, 2022 Good morning traders, Welcome back to The Daily Setup. Markets were down yesterday. Here’s what’s on the docket today: - Longeveron’s stock doubles - Biden releases oil reserves - The EU hates crypto Send a few emails, clock out early, and let’s have ourselves a weekend. Nick How'd the markets look? Market Outlook Love You Longeveron Time Biggest Mover [Activision Blizzard, Inc. ]( [LGVN $13.80 (▲105.36%) Longeveron Inc | Google Finance]( If you haven’t heard of Longeveron, and judging by the pre-Thursday market cap of $140M, most of you haven’t, it is a biotech company and not the latest hypercar from Bugatti. Shares more than doubled on Thursday after the company [published study results]( on its Alzheimer’s drug Lomacel-B in the Alzheimer’s & Dementia Journal. I’m an avid reader of the ol’ ADJ myself, but for some reason I often end up reading the same article several times. - The 33 patient study showed that the Lomacel subjects, who had mild Alzheimer’s, did not demonstrate serious side effects and [showed a slower cognitive decline]( than the placebo group. - Lomacel-B is now being tested in a larger phase 2 study, which began in December of 2021. - Shares ended Thursday at $13.80 on massive volume of over 132M shares traded, where average volume is less than 1M shares per day. Small-cap biotech stocks can be downright wacky (pardon the language) as they swing wildly on news of clinical trials, FDA approvals, etc. Their fluctuations can make your bipolar aunt who gets deep into the chardonnay at Thanksgiving look tame by comparison. I do think it makes some sense to keep a basket of small biotechs with promising pipelines, like LGVN, as they tend to get snapped up by the big dogs that need to replace drugs going off patent. Release the Reserves Street Stories [Cycling Downhill] There might still be a war in Europe, and [Coronavirus is rearing its ugly head]( in China again but we all know what’s really on the mind of world leaders: the price of oil. Thursday marked a big moment for the black goo as separate statements from the [White House]( and OPEC+ had varying effects on the market. Overall, the news could mean your wallet can take a breather and that you can put the siphoning hose away. - To start: the members of OPEC+ (including Russia) concluded in a recent meeting that they will stay the course, and maintain their strategy of gradually increasing supply. Previously they had been increasing by 400K barrels/day per month but [that figure will now increase to 432K/day](. - The bigger news: The executive branch announced today that the US government would be releasing 1M barrels of oil per day for the next six months from the Strategic Petroleum Reserve (SPR), which is roughly 1% of global demand. [The news caused benchmarks to drop](. - Overall the effect on the market was [broad](: By market close the SPDR Energy Select Sector ETF (XLE) had dropped -1.36%, while producers like Chevron (CVX) and Occidental (OXY) dropped -1.60% and -1.29% respectively. The DJIA also dipped by -1.56%. OPEC+ must be happy enough with the status of the market to maintain their position, while the US is being compelled to release their reserves until domestic production can hit its stride. This move by the White House is more of a bandaid as it won’t affect supply (which is what the markets really care about), and could create a bullish effect on oil prices for the coming year. Regardless, we all could use some wiggle room at the pump but it will be interesting to see how the strategies of both factions play out in the future. 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[Try Dollar Flight Club now for $1](… This exclusive offer ends in 12 hours. [Try DFC For $1]( *See Disclaimer Below Government Overreach, the Old World Way Token Talk [Token Talk] The European Union is drunk on both power and schnapps these days as it attempts to regulate the nascent cryptocurrency industry. In a vote Thursday, EU lawmakers decided to take a [heavy handed approach]( to regulation that would require even the smallest crypto transactions to identify the participants. It wouldn’t be big government if it wasn’t both burdensome and lazy though, as the bill shifts the responsibility of enforcement to crypto service providers. - Under the proposed law, service providers such as exchanges would have to [gather personal information]( every time a customer transferred digital assets to a personal wallet. - In a frightening twist, providers would also have to judge each transaction’s validity and if it should be rejected and/or reported to regulators. - To become law, the bill has to be agreed on by Parliament as well as the group of national ministers called the EU Council. We’re about to see how powerful the cryptocurrency lobby is across the pond as they fight this bill since it would stifle innovation in the space and essentially wipe out the privacy that attracts people to crypto in the first place. This is definitely something to keep an eye on as implementation of this law could have serious negative consequences for digital asset prices. Ascent Plans to Ascend Deals and Rumors [Deals and Rumors] The IPO has become somewhat of an [endangered species]( in 2022 but if the rumors are to be believed, one of the nation’s largest privately held natural gas producers, Ascent Resources LLC aims to change that. According to a report by Reuters, the energy company has been scheming with Citigroup and Barclays Plc in preparation to be listed on the NYSE. With market volatility slowing, and energy prices remaining high they must be pretty eager to get out the door. - According to Reuters’ sources, the PE firms controlling Ascent (the Energy & Minerals Group, and First Reserve Corp) hope for a [$6B valuation]( and a listing in New York as soon as the end of 2022. - Last week [Bloomberg]( reported that Ascent had been engaging in talks with rival Gulfport Energy corp about a possible merger. The talks fell apart but clearly Ascent is looking to make some big moves. While it’s important to take any information like this with a grain of salt, it’s very conceivable that we’ll hear something from Ascent soon about their future plans. Of course, the tune of the market could always change but with the US planning to ramp up domestic oil production this year it could make sense for Ascent to achieve an IPO as a means of expanding their operations further to capitalize on the push. Link Roundup Other News Other News Link Roundup + Has Anyone Seen My Wallet? - Consumer Spending Slows ([link]() + “Y’all Got Any More of Them Jobs?” - Jobless Claims Rise ([link]() + Known Party Pooper at it Again - SEC Warns of Housing Bubble ([link]() + Making that WalGREEN - Pharmacy Beats Earning Expectations ([link]() + We’re here to Pump, YOU UP! - Inflation Rose in March ([link]() + Power to the Aftermarket Players - GameStop gains 17% afterhours on Plans of Stock Split ([link]() Meme of the day Drill baby, Drill, [via @StreetBomber]( [other news] 62 Calef Hwy #233 Lee, New Hampshire 03861 United States Questions or concerns about our products? Email our team here support@thedailysetup.com © Copyright 2022, [RagingBull]( - [Refund Policy]( - [Privacy Policy]( - [Terms & Conditions]( SPONSORED AD PLACEMENT: This email contains an advertisement by a party that is unaffiliated with Raging Bull. 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