Can MMM be like GE after the CEO change? GO LONG MMM!!!

Commodities Entry points

NATGAS (ET PAA KMI NWN ENB ) , Grains and Corn managed-money futures positions (hedge funds) have reached the most extreme net short (vs. open interest) since 2006. Diminishing bear market room in corn (grains) may be turning attention toward crude oil. Courtesy: McGlone BI posts. 

On a separate note -  

The implied volatility of call options on gold has plummeted to one of its lowest levels in history. Last time volatility was this subdued, gold experienced a 75% rally in the subsequent years.

While these returns may appear modest in today’s speculative environment, such movement in a macro asset of this magnitude could unleash other important trends that are long-overdue.

Currently priced for failure, the mining industry stands out as one of the best distressed opportunities, in my view. Additionally, it's worth noting that historically, every gold cycle has synchronized with a cycle for other commodities, often boosting the valuations of resource-rich economies like emerging markets.  

The drop in implied volatility of call options on gold to historically low levels may signal an upcoming surge in gold prices, potentially impacting the mining industry and related markets. Here are the key points to consider:

- Historically, low volatility in gold options has been followed by substantial price increases, given gold's role as a major macro asset.
- The undervalued mining industry may see growth if gold prices rise, offering potentially high returns for investors.
- Gold cycles have historically impacted broader commodity cycles, driving up the value of resource-rich economies.
- Increasing exposure to gold and related industries could provide portfolio diversification and help manage risk during uncertain economic periods.

In summary, this situation may present promising investment opportunities in the mining industry and related markets. It's important to conduct thorough research and assess individual risk tolerance before making any investment decisions.

Lastly, the delinquencies are at 20 year high. 

Massive insider sells across the board - 

WMT Insiders sold, JPM's Dimon sold, Bezos sold 

Good Entry points !!

 DIS

IFF

PYPL

 SQ

CCJ

Oil ( OIH upstream pipelines) & Gas (XOM CVX) , CLB, FTK? 

Silver (sivr) 

Gold (NEM RGLD)

MMM (?) 

ABNB

Reaching Euphoria - all time highs...

 The markets have rallied substantially since the  March'20 bottom. SPACs, IPOs craze is visible in all forums, especially fueled by the new generation of Robinhood traders. Tiktok videos are being made on stock trading. Youtube channels are pumping names and creating significant moves. These are unprecedented times where stimulus money is flowing in - the traders are buying/selling without commissions, and their relatively young age guarantees that they've not had major learnings of how the market forces truly work. The new normal due to fed put and unlimited QE and stimulus has run it's course and may inflate the tulip bubble even further - no one can time a top. Nevertheless, the charts and the sentiments are definitely flagging caution. 

Credits: Citigroup research

Correction scoops

https://etracs.ubs.com/product/list/index/strategy/income ; APLE, CIM, BDCs,
AAPL
WDAY
TSLA
AMT
MSFT
IBM
ABBV
DXCM
COUP



BIDU
PINS
MU
AMD
NVDA
XLNX

SBAC
LRCX
SKYW
TSM
MOS
XOM

IPOs May 2019

Symbol	Company	Industry	Offer Date	Shares (millions)	Offer Price	1st Day Close
TRVI	Trevi Therapeutics	Health Care	5/7/2019	5.5	$10.00	$7.89
RRBI	Red River Bancshares	Financials	5/3/2019	0.6	$45.00	$50.25
SCPL	SciPlay	Technology	5/3/2019	22	$16.00	$15.25
SY	So-Young International	Technology	5/2/2019	13	$13.80	$18.20
TMDX	TransMedics Group	Health Care	5/2/2019	5.7	$16.00	$22.36
MNRL	Brigham Minerals	Oil & Gas	4/18/2019	14.5	$18.00	$0.00
GNLN	Greenlane Holdings	Consumer Goods	4/18/2019	6	$17.00	$21.10
HOOK	HOOKIPA Pharma	Health Care	4/18/2019	6	$14.00	$14.00
PINS	Pinterest	Technology	4/18/2019	75	$19.00	$24.40
ZM	Zoom Video Communications	Technology	4/18/2019	20.9	$36.00	$62.00
TPTX	Turning Point Therapeutics	Health Care	4/17/2019	9.3	$18.00	$28.90
JMIA	Jumia	Consumer Goods	4/12/2019	13.5	$14.50	$25.46
PD	PagerDuty	Technology	4/11/2019	9.1	$24.00	$38.25
TUFN	Tufin Software Technologies Ltd.	Technology	4/11/2019	7.7	$14.00	$19.10
GHSI	Guardion Health Sciences	Health Care	4/5/2019	1.5	$4.00	$3.68
SILK	Silk Road Medical	Health Care	4/4/2019	6	$20.00	$36.18
TW	Tradeweb Markets	Financials	4/4/2019	40	$27.00	$35.81
RUHN	Ruhnn Holding Ltd.	Consumer Goods	4/3/2019	10	$12.50	$7.85
PBTS	Powerbridge Technologies Co., Ltd.	Technology	4/2/2019	1.8	$5.00	$5.21
LYFT	Lyft	Consumer Services	3/29/2019	32.5	$72.00	$78.29
LEVI	Levi Strauss & Co.	Consumer Goods	3/21/2019	36.7	$17.00	$22.41
TIGR	UP Fintech Holding Limited	Financials	3/20/2019	13	$8.00	$10.92
FHL	Futu Holdings Limited	Financials	3/8/2019	7.5	$12.00	$15.32
SWAV	ShockWave Medical	Health Care	3/7/2019	5.7	$17.00	$30.50
KLDO	Kaleido Biosciences	Health Care	2/28/2019	5	$15.00	$14.23
SLGG	Super League Gaming	Consumer Services	2/26/2019	2.3	$11.00	$8.50
HOTH	Hoth Therapeutics	Health Care	2/15/2019	1.3	$5.60	$8.53
AVDR	Avedro	Health Care	2/14/2019	5	$14.00	$12.29

100 IPO list - March 2019

Symbol	Company	Industry	Offer Date	Shares (millions)	Offer Price	1st Day Close
LEVI	Levi Strauss & Co.	Consumer Goods	3/21/2019	36.7	$17.00	$22.41
TIGR	UP Fintech Holding Limited	Financials	3/20/2019	13	$8.00	$10.92
FHL	Futu Holdings Limited	Financials	3/8/2019	7.5	$12.00	$15.32
SWAV	ShockWave Medical	Health Care	3/7/2019	5.7	$17.00	$30.50
KLDO	Kaleido Biosciences	Health Care	2/28/2019	5	$15.00	$14.23
SLGG	Super League Gaming	Consumer Services	2/26/2019	2.3	$11.00	$8.50
HOTH	Hoth Therapeutics	Health Care	2/15/2019	1.3	$5.60	$8.53
AVDR	Avedro	Health Care	2/14/2019	5	$14.00	$12.29
TCRR	TCR2 Therapeutics	Health Care	2/14/2019	5	$15.00	$15.07
HARP	Harpoon Therapeutics	Health Care	2/8/2019	5.4	$14.00	$13.50
ALEC	Alector	Health Care	2/7/2019	9.3	$19.00	$18.00
NFE	New Fortress Energy	Oil & Gas	1/31/2019	20	$14.00	$13.07
MTC	MMTEC	Technology	1/8/2019	1.8	$4.00	$5.94
QFIN	360 Finance	Financials	12/14/2018	3.1	$16.50	$16.50
TME	Tencent Music Entertainment Group	Consumer Services	12/12/2018	82	$13.00	$14.00
MRNA	Moderna	Health Care	12/7/2018	26.3	$23.00	$18.60
THOR	Synthorx	Health Care	12/7/2018	11.9	$11.00	$12.61
MOGU	MOGU	Consumer Goods	12/6/2018	4.8	$14.00	$14.00
MDRR	Medalist Diversified REIT	Financials	11/28/2018	0.2	$10.00	$9.40
TC	TuanChe Limited	Consumer Goods	11/20/2018	2.6	$7.80	$7.83
BCSF	Bain Capital Specialty Finance	Financials	11/15/2018	7.5	$20.25	$18.00
WEI	Weidai Ltd.	Financials	11/15/2018	4.5	$10.00	$10.25
VAPO	Vapotherm	Health Care	11/14/2018	4	$14.00	$16.00
ETON	Eton Pharmaceuticals	Health Care	11/13/2018	3.6	$6.00	$6.25
CNF	CNFinance Holdings Limited	Financials	11/7/2018	6.5	$7.50	$7.60
AXNX	Axonics Modulation Technologies	Health Care	10/31/2018	8	$15.00	$14.98
ORTX	Orchard Rx Ltd.	Health Care	10/31/2018	14.3	$14.00	$14.00
TWST	Twist Bioscience	Health Care	10/31/2018	5	$14.00	$14.00
GMDA	Gamida Cell Ltd.	Health Care	10/26/2018	6.3	$8.00	$8.44
PT	Pintec Technology Holdings	Technology	10/25/2018	3.7	$11.88	$12.49
YETI	YETI Holdings	Consumer Goods	10/25/2018	16	$18.00	$17.00
LOGC	LogicBio Therapeutics	Health Care	10/19/2018	7	$10.00	$11.50
NIU	Niu Technologies	Consumer Goods	10/19/2018	7	$9.00	$8.65
SWI	SolarWinds	Technology	10/19/2018	25	$15.00	$15.03
OSMT	Osmotica Pharmaceuticals plc	Health Care	10/18/2018	6.7	$7.00	$8.15
PHAS	PhaseBio Pharmaceuticals	Health Care	10/18/2018	9.2	$5.00	$5.00
MSC	Studio City International Holdings	Consumer Services	10/18/2018	28.8	$12.50	$15.50
SIBN	SI-BONE	Health Care	10/17/2018	7.2	$15.00	$20.06
PLAN	Anaplan	Technology	10/12/2018	15.5	$17.00	$24.30
EQ	Equillium	Health Care	10/12/2018	4.7	$14.00	$14.00
ALLO	Allogene Therapeutics	Health Care	10/11/2018	18	$18.00	$25.00
LTHM	Livent	Basic Materials	10/11/2018	20	$17.00	$16.97
ESTC	Elastic N.V.	Technology	10/5/2018	7	$36.00	$70.00
GH	Guardant Health	Health Care	10/4/2018	12.5	$19.00	$32.20
KOD	Kodiak Sciences Inc.	Health Care	10/4/2018	9	$10.00	$10.16
UPWK	Upwork	Technology	10/3/2018	12.5	$15.00	$21.18
CTK	CooTek (Cayman) Inc.	Technology	9/28/2018	4.4	$12.00	$9.44
ARVN	Arvinas	Health Care	9/27/2018	7.5	$16.00	$16.05
LAIX	LAIX Inc.	Consumer Services	9/27/2018	5.8	$12.50	$12.65
RMED	Ra Medical Systems	Health Care	9/27/2018	3.9	$17.00	$20.00
UROV	Urovant Sciences	Health Care	9/27/2018	10	$14.00	$11.65
ARCE	Arco Platform Ltd.	Consumer Services	9/26/2018	11.1	$17.50	$23.50
CBNK	Capital Bancorp	Financials	9/26/2018	2.2	$12.50	$12.80
ETTX	Entasis Therapeutics Holdings	Health Care	9/26/2018	5	$15.00	$10.66
SVMK	SVMK (SurveyMonkey)	Technology	9/26/2018	12	$12.00	$17.24
VIOT	Viomi Technology Co., Ltd.	Consumer Goods	9/25/2018	11.4	$9.00	$9.08
FTCH	Farfetch Ltd.	Consumer Goods	9/21/2018	44.2	$20.00	$28.45
STRO	Sutro Biopharma	Health Care	9/21/2018	5.7	$15.00	$15.20
YMAB	Y-mAbs Therapeutics	Health Care	9/21/2018	6	$16.00	$24.00
BSVN	Bank7	Financials	9/20/2018	3.4	$19.00	$19.09
ELAN	Elanco Animal Health	Health Care	9/20/2018	62.9	$24.00	$36.00
EB	Eventbrite	Technology	9/20/2018	10	$23.00	$36.50
XYF	X Financial	Financials	9/19/2018	11	$9.50	$11.91
FVCB	FVCBankcorp	Financials	9/14/2018	1.8	$20.00	$20.00
PRNB	Principia Biopharma	Health Care	9/14/2018	6.3	$17.00	$32.65
QTT	Qutoutiao	Technology	9/14/2018	12	$7.00	$15.97
YI	111	Consumer Goods	9/12/2018	7.2	$14.00	$13.80
NIO	NIO Inc.	Consumer Goods	9/12/2018	160	$6.26	$6.60
ARDS	Aridis Pharmaceuticals	Health Care	8/14/2018	2	$13.00	$13.00
MESA	Mesa Air Group	Industrials	8/10/2018	9.6	$12.00	$11.75
VCNX	Vaccinex	Health Care	8/9/2018	3.3	$12.00	$11.38
ARLO	Arlo Technologies	Technology	8/3/2018	10.2	$16.00	$22.10
CWK	Cushman & Wakefield plc	Financials	8/2/2018	45	$17.00	$17.81
SONO	Sonos	Technology	8/2/2018	13.9	$15.00	$19.91
BRY	Berry Petroleum	Health Care	7/27/2018	13	$14.00	$13.25
DAVA	Endava Ltd.	Technology	7/27/2018	6.3	$20.00	$25.20
OPRA	Opera Ltd.	Technology	7/27/2018	9.6	$12.00	$13.11
JG	Aurora Mobile Limited	Technology	7/26/2018	9.1	$8.50	$8.80
CANG	Cango	Technology	7/26/2018	4	$11.00	$12.52
FOCS	Focus Financial Partners	Financials	7/26/2018	16.2	$33.00	$37.55
LQDA	Liquidia Technologies	Health Care	7/26/2018	4.5	$11.00	$11.10
PDD	Pinduoduo	Technology	7/26/2018	85.6	$19.00	$26.70
TENB	Tenable Holdings	Technology	7/26/2018	10.9	$23.00	$30.25
AQST	Aquestive Therapeutics	Health Care	7/25/2018	4	$15.00	$16.05
BE	Bloom Energy	Utilities	7/25/2018	18	$15.00	$25.00
REPL	Replimune Group	Health Care	7/20/2018	6.7	$15.00	$15.16
ALLK	Allakos	Health Care	7/19/2018	7.1	$18.00	$31.25
CNST	Constellation Pharmaceuticals	Health Care	7/19/2018	4	$15.00	$11.50
ESTA	Establishment Labs Holdings	Health Care	7/19/2018	3.7	$18.00	$24.75
MYFW	First Western Financial	Financials	7/19/2018	2	$19.00	$19.00
TLRY	Tilray	Health Care	7/19/2018	9	$17.00	$22.39
CCB	Coastal Financial	Financials	7/18/2018	2.9	$14.50	$16.40
CRNX	Crinetics Pharmaceuticals	Health Care	7/18/2018	6	$17.00	$24.51
RUBY	Rubius Therapeutics	Health Care	7/18/2018	10.5	$23.00	$24.25
DOMO	Domo	Technology	6/29/2018	9.2	$21.00	$27.30
BJ	BJ’s Wholesale Club Holdings	Consumer Goods	6/28/2018	37.5	$17.00	$22.00
BV	BrightView Holdings	Consumer Services	6/28/2018	21.3	$22.00	$21.40
EVER	EverQuote	Technology	6/28/2018	4.7	$18.00	$18.02
FTSV	Forty Seven	Health Care	6/28/2018	7	$16.00	$15.05
TBIO	Translate Bio	Health Care	6/28/2018	9.4	$13.00	$0.00