I always do this for the beginning of the Big 12 season when all the coaches convene in Dallas but really Thursday’s OSU presser was such a gem I think we need to dust it off for what transpired.Let’s get to the tape:Mike GundyWhat he said: “[Jameis is] a really good player that’s dangerous, in that he can make a play at any time. He’s got a strong arm, he’s hard to bring down, he’s mobile and he’s got a great supporting cast.”What he meant: Take your pick between “Helen of Troy was cute”, “Alexander the Great was powerful”, “Abraham Lincoln was important to race relations within the contiguous United States”, and “General Eisenhower was a pretty decent leader.”What he said: “I do want to clear one thing up, OK? We’ve embraced this game. I’ve offered an opinion. Coach Holder and I, we’ve had this discussion. This has gone on forever. He and I see eye-to-eye on things. Ultimately, they make the last decision and that doesn’t mean there’s an issue.”What he meant: I hate working for Mike Holder.What he said: ““What if they said you could tee off from the ladies tees, but score the same? Come on now…They put us on the (back tee boxes), just so you know.”What he meant: [Thinking “I could do all right on the LPGA, couldn’t I?” as he was saying this]What he said: ““I counted the other night [how many freshmen would play], right before I went to sleep, and it kept me up for two hours. I told them, ‘Just think. This is awesome. Last year, you were playing high schoool ball. Now, you’re playing against Florida State.’ It’s pretty cool.’”What he meant: Really though, it was the counting that kept me up.When it comes to these Gundy is just the gift that keeps on giving.Mike YurcichWhat he said: “It’s a lot of fun having Tyreek out there. He’s a very explosive athlete, and he’s also a very skilled young man with a great attitude. It’s a lot of fun having him. He’s an easy-going guy, but he takes his job very seriously at the same time. I can’t say that I know him as well as Coach Singleton, but he seems like he is very business-like and has a great demeanor about him.”What he meant: Does he have brothers?Glenn SpencerWhat he said: “It’s a ballgame, though, so nobody here knows what’s going to happen. Nobody can even think about what’s going to happen, so we’ll deal with that moment when it comes. We can come out and play great at first, but there will still be a lot of ballgame left. If they come out and bust a couple of big plays on us, will we shell up for the rest of the game? No. That 60th play and that 70th play have got to be played just like the first and the second.”What he meant: Somebody triple-check to see if Daytawion has any eligibility left. Now! If you’re looking for the comments section, it has moved to our forum, The Chamber. You can go there to comment and holler about these articles, specifically in these threads. You can register for a free account right here and will need one to comment.If you’re wondering why we decided to do this, we wrote about that here. Thank you and cheers! Totally Tickets is your source for Oklahoma State football tickets.
18’s Boys kicked of the third day of games at 8am to decide places in the finals series.Cobras disposed of Northern Territory 10-0. 12th seed Western Tigers kept the Eagles to a 7-7 draw. North Queensland produced the upset of the round, beating 10th seed the Suns 12-0. 14th place Tasmania also did well to keep the 5th seed ACT to a 3-3 draw.The 18’s Girls were the second division to play their final round of games, at 9am. 19th seed South Australia narrowly lost to 7th seed Scorpions, 5-4. ACT did similar, just losing 4-2 to the Suns, a team seeded 12 places above them. Northern Territory beat NSWCIS 8-5 in an upset.The 1st seeded Suns easily beat the Cyclones 10-0 in the 20’s Girls final round. 6th seeds the Mets easily beat the 3rd seeded Sharks, winning 7-1. The Hornets did well to beat the 4th seed Eagles, winning 5-1. The other results in this round were predictable, with Tigers beating Victoria and the Cobras beating the Sunshine Coast.In the 20’s Boys, 9th seeded Sunshine Coast drew with the 1st seeded Mets with the Sharks just overcoming the Hornets, 9-8. Suns beat the Eagles, 8-2 and the Cyclones beat Victoria 6-4. ACT and Cobras fought out a tough match, with Cobras winning 10-9.In the first round of finals, the 18’s Boys, 1st seed the Mets were beaten by NSWCCC, 6-3. NSWCHS were too good for NSWCIS, winning 4 touchdowns to 1. Due to their strong wins, CCC will play CHS in semi final two at 9am Saturday morning in a battle of the NSW schools. QSST overcame the Sharks, 5-2 to progress to the finals while the 16th seeded Cyclones knocked Sunshine Coast out of the running, 13-5. The Cyclones, the surprise packet of the 18’s boys, will now play QSST at 9am in their bid to make the Grand Final. In the 18’s Girls, QSST put out their finals warning, beating 12th seed Central Queensland 9-1. Sharks were too good against Sunshine Coast, winning 5-0. QSST and the Sharks will now face off for their shot at the title, playing their Semi Final at 8am. NSWCCC showed no mercy against Northern Territory, putting on 15 touchdowns and only letting in 3. Despite the difference in rankings, the Eagles put up a good fight against NSWCHS, losing 6-3. Like in the Boys 18’s, the Girls semi final number 2 will be NSWCCC V NSWCHS.In the 20’s Boys, the Cobras proved too strong for the Hornets, winning 8-5. The Cobras will now play the Sharks in Semi Final One at 8am. ACT beat the 2nd seeded Suns, winning 8-7 and has set up a show down against the 1st seed Mets in Semi Final One also at 8am.In the 20’s Girls, the Mets were too good for Hornets, winning 9-4. They have now set up a play off against the 1st seeded Suns, to be played at 9am. The Sharks beat the Tigers 5-2 to book a spot in the Semi Finals against the Cobras also at 9am.
MONTGOMERY, Ala. — Alabama’s employee pension fund has become sole owner of one of the largest chains of local U.S. newspapers.CHNI LLC has been acquired by the Retirement Systems of Alabama. The company includes 68 daily newspapers and more than 40 non-dailies plus websites in 22 states.The Montgomery, Alabama-based newspaper group is being spun off Raycom Media Inc., which is being purchased by the Atlanta-based Gray Television Inc. Raycom was owned by the retirement system.CNHI previously operated with the state retirement system as its creditor. CNHI chief executive Donna Barrett says in a statement the acquisition will provide stability for the newspaper group.Financial details weren’t announced.Alabama’s pension fund has other non-traditional investments including golf courses, airliners and the largest office building in New York City.The Associated Press
New Delhi: Rajasthan Governor Kalyan Singh’s remarks supporting the return of Narendra Modi as prime minister are violative of model code of conduct, the Election Commission has concluded. Sources said since Singh holds a constitutional post, the EC will write to President Ram Nath Kovind, flagging the issue. The poll panel had examined the remarks made by the former Uttar Pradesh chief minister in the light of model code violation as holding a constitutional post makes him “apolitical”. Also Read – Uddhav bats for ‘Sena CM’ Addressing BJP workers at his Aligarh residence on March 23, Singh reportedly said, “All of us are BJP workers and we want the party to win. We want Modiji to become the prime minister. It is necessary that Modiji becomes the PM again.” The Governor made these remarks to placate some agitated BJP members who gathered outside his house over ticket distribution. In the 1990s, the EC had expressed displeasure to then Himachal Pradesh Governor Gulsher Ahmed for campaigning for his son. He later quit.
Sophomore guard Ameryst Alston sets up for a free throw during a game against Penn State Feb. 23 at the Schottenstein Center. OSU won, 71-62.Credit: Ritika Shah / Asst. photo editorThe Ohio State women’s basketball team came into Indianapolis having never lost a first round game in the Big Ten tournament.That trend continued with an impressive 86-77 victory against the No. 9 seed Northwestern Wildcats (15-15, 5-11) Thursday.The Buckeyes (16-17, 5-11) were once again led by first team All-Big Ten sophomore guard Ameryst Alston, who poured in a game-high 30 points. It was the fourth time she has reached the 30-point mark this season and the second time she has done so against the Wildcats — the other being during a 71-62 victory Feb. 23.OSU coach Kevin McGuff, whose career record improved to 18-7 in conference tournaments, had plenty of praise to give his star guard.“She is a really special player and a great kid and she was just so aggressive,” McGuff said in a post-game interview with the Big Ten Network’s Shelley Tills. “She is really hard to contain off the dribble and got to the rim all night.”Alston, who scored 20 of her 30 points in the second half, said it wasn’t just her doing.“I have to thank my teammates for that,” Alston said to the Big Ten Network’s Katie Witham on her 30-point performance. “They gave me the ball at the right times and the right places.”OSU also received two double-double performances from senior center Darryce Moore and senior forward Martina Ellerbe. Moore, despite fouling out, finished one point shy of her career-high as she recorded 19 points and 10 rebounds. Ellerbe tallied a career-high in rebounds, pulling down 13 boards to go along with 16 points.“Our players stayed relentless,” McGuff said. “We were really aggressive, especially in the second half.”The Buckeyes jumped out to an early lead before the Wildcats ended the first half on a 16-0 run to take a 39-35 lead into the half, culminated by a buzzer-beating 3-point shot by freshman forward Nia Coffey.Northwestern coach Jim McKeown said at the half he was happy with the way his team was playing.“We played better defense, we got out and ran and got better shots,” McKeown said.The Wildcats had four players score in double-figures, including 17 from Coffey, who also grabbed 11 rebounds. Sophomore guard Maggie Lyon recorded a team-high 23 points, on 6-18 shooting for the Wildcats in the loss.The Buckeyes will now turn their attention to the No. 1-seeded and regular season Big Ten conference champion Penn State Nittany Lions (22-6, 13-3) who defeated OSU in both regular season meetings — outscoring the Buckeyes 140-96 in the two games combined.Although OSU has not had success against the Nittany Lions this season, McGuff said his team will be ready to go Friday afternoon.“I am happy we won this one but we are going to quickly turn the page to Penn State,” McGuff said. “They have a great team, they are very well-coached, so we will have to be on our A-game tomorrow, but we are going to show up ready to play.”In order to pull the upset against Penn State, Alston said the Buckeyes will need to come out with the same intensity they had against the Wildcats.“We are going to take the energy from this game and take it to the next game,” Alston said. “We have to win the boards and that is what happened today, getting second chance shots.”“We don’t want to go home.”The Buckeyes and Nittany Lions are scheduled for a noon tipoff Friday at Bankers Life Fieldhouse in Indianapolis.
Sophomore defensive lineman Jonathon Cooper (18) during the Ohio State vs. UNLV game on Sept. 23. Ohio State beat UNLV 54-21. Credit: Ris Twigg | Former Assistant Photo EditorThe first depth chart of the season was released by Ohio State prior to the season opener against Oregon State.Notable starters include sophomore safety Isaiah Pryor, who acting head coach Ryan Day said was battling with redshirt sophomore Jahsen Wint for the starting position, but has the sole starting position in the safety position opposite junior captain Jordan Fuller.Day also labeled sophomore tight end Luke Farrell as starter, but is marked as a co-starter with redshirt junior Rashod Berry on the depth chart.Junior wide receiver Austin Mack is listed as the starter, with redshirt senior and captain Terry McLaurin at the No. 2 position.Redshirt senior and captain Parris Campbell is listed as an H-Back on the depth chart, along with redshirt junior K.J. Hill and senior C.J. Saunders.At running back, sophomore J.K. Dobbins and redshirt junior Mike Weber are listed as co-starters.On the defensive side, junior Jonathon Cooper and sophomore Chase Young will be co-starters at defensive end alongside junior and captain Nick Bosa.Redshirt junior cornerback Damon Arnette earned the starting spot over sophomore Jeffrey Okudah, though defensive coordinator Greg Schiano said they will rotate.Saunders and redshirt sophomore Demario McCall will be splitting punt returns, and McCall will be doing kick returns with redshirt senior Johnnie Dixon.Freshmen on the depth chart include right tackle Nicholas Petit-Frere, tight end Jeremy Ruckert, Brian Snead and Master Teague at running back, wide receiver Chris Olave, Tyreke Smith and Tyler Friday at defensive end, Taron Vincent and Tommy Togiai at defensive tackle and safety Josh Proctor.Ohio State will play Oregon State on Sept. 1 at 12 p.m. at Ohio Stadium.
Man City is seeking to maintain their position atop the Premier League table when they get back to action a week today.On the other hand, Chelsea football club will welcome Burnley to the Etihad on October 20 as they have come off undefeated in their opening eight top-flight fixtures.Bernardo Silva would be battling for the match after report emerged in Portugal that he will go on rest after their game against Scotland where h scored the goal that assisted in giving Poland a win on Thursday night.Also, Oleks Zinchenko’s agent has said the player is open to a move to Napoli.Cristiano Ronaldo makes European history for Portugal Tomás Pavel Ibarra Meda – September 10, 2019 With all the arsenal on the pitch for Portugal, Cristiano Ronaldo reached another all-time record in European football against Lithuania.The Portugal National Team made…“I met with [Napoli director Cristiano] Giuntoli [in the summer] and we laid down the foundations of a deal with Zinchenko, but the two clubs could not agree on a fee,” Alan Prudnikov said via Manchester United News.“We’d be ready to discuss it again, though.”
River Plate captain Leonardo Ponzio believes team-mate Exequiel Palacios is a suitable player for Real Madrid to signThe 20-year-old midfielder has been strongly linked with a move to Real in the January transfer window with River president Rodolfo D’Onofrio confirming there has been contact.Palacios is regarded as one of the brightest young prospects in South America and had reportedly captured the interest of several European giants.Now Ponzio believes his young team-mate would fit in well at Real as he has all the required attributes.Match Preview: Barcelona vs Valencia Boro Tanchev – September 14, 2019 Is derby time in La Liga, as Barcelona welcomes Valencia to the Camp Nou Stadium tonight at 21:00 (CET).“He has been with us for almost two and a half years,” Ponzio told AS. “He has become a player in River, in Argentine soccer.“Real Madrid? I believe what ability he has. Of course, you cannot ask him to be the same as Luka Modric. He is 20 years old. He goes to another continent, to another kind of football.“But conditions have to grow. He is very of the palate of Real Madrid. Technically he is good, he has a good footing, individually he is good. But he must keep his head. He has to be calm because he is going to make the jump at any moment.”Real have now travelled the United Arab Emirates for Wednesday’s Club World Cup semi-final against Kashima Antlers.
For Time.com, it meant killing “deks” on the homepage. “One of the things we came to realize was that the way people browse the Web has evolved into a ‘quick-scan’ mindset, which is very different from how they read print media,” says Sean Villafranca, design director, Time.com. “This is why we decided to do away with story summaries and designed with headlines only.”With editors and writers, Villafranca says Time.com managing editor Josh Tyrangiel “put the impetus on them to create more compelling and concise headlines, so that they wouldn’t have to rely on a dek to make it more interesting.”Wiping the Slate CleanFor Time.com’s most recent redesign, launched last October, Villafranca and his team took inventory of the existing site, then established a hierarchy of how the content would be presented. “We moved blocks of content around different areas on the page to see how a user’s eye would track.”Ultimately, a modular design offers flexibility down the road. “If we feel that the multimedia module should go higher on the page, we can easily do that.” MacKenzie agrees: “If you are a content site, make it easy to keep it fresh. You could have the best looking homepage in the world—if it’s static, it’s useless.”Striking a BalanceAnother challenge is striking a balance between the needs of ad sales and editorial.“The biggest challenge we had, and will continue to have, is balancing the needs of the business side of the operation with the creative/editorial side,” says MacKenzie. “We often have very different ideas about the homepage and how it should represent the brand as a whole. But the business side recognizes that the creative/editorial side is what truly differentiates the site from any other in the space—it defines the Motor Trend brand.”This is important, he says, because the lead generation side of the business is largely becoming commoditized. “The brand adds value because it creates a community of interest that will come to the site regularly,” MacKenzie says. “We have seen clear evidence this recently—lead gen has been hit by the economic downturn, but the number of visitors to the homepage”—in other words, visitors who have not come to the site through search engines—“has remained strong.” ResultsMotortrend.com’s traffic has grown gradually since an initial major redesign of the site in 2006, from approximately one million unique visitors and six million page views per month to more than three million uniques and 17 million to 18 million page views. “It is hard to know what effect the design has had on the overall numbers,” MacKenzie says. “Stories that reach the top of the home page flash box tend to perform better than stories that do not make it there.” Adding the “Wide Open Throttle” box to the homepage—a blog-style content aggregation piece with 15-20 posts a day—has resulted in 600,000 additional page views per month. SIDEBAR5 Web Site Design Mistakes to Avoid• Don’t let designers design in a vacuum—solicit opinions from stakeholders as early in the process as possible.• Don’t get stuck on one design—try/solicit new ideas.• Don’t let ad folks dictate the direction.• Don’t get too carried away with bells and whistles.• Don’t strip away too much editorial in an effort to de-clutter the site. Much attention is paid to what content management system or other back-end architecture a Web site should have—and with good reason.But a smooth-running site that looks terrible won’t win readers or advertisers.For Motor Trend, designing a homepage with eye-catching visual effects (MT users are big on photos, as automobiles are, inherently, a very visual subject) and, of course, space for ads, was no exception.“The challenge is trying to get as much editorial content out on the homepage as possible without overwhelming the design and making it too cluttered,” says Angus MacKenzie, Motor Trend’s editor-in-chief.
WILMINGTON, MA — The Commerford Fun Fair returns to the Shriners Auditorium (99 Fordham Road) during February vacation.The Fair will be open on Saturday, February 16, 2019 (10am-7pm); Sunday, February 17, 2019 (10am-6pm); and Monday, February 18, 2019 (10am-6pm).These fairs, held year-round up and down the east coast, are a “fun, friendly, and safe place to bring your family.” The fair feature rides, games, and a unique chance to interact with animals.Children 12 and under are free with coupon. Price for adults online are $10. Price for adults at the event are $18. Free children coupons are available at local businesses or at front box office during the event.Rides and other vendors inside are an additional cost. For ride prices, visit www.commerfordzoo.com. Call 860-491-3421 with any questions.(NOTE: The above information was submitted by Commerford Fun Fair.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email firstname.lastname@example.org.Share this:TwitterFacebookLike this:Like Loading… RelatedFEBRUARY VACATION FUN: Petting Zoo At Shriners AuditoriumIn “Community”FEBRUARY VACATION FUN: Petting Zoo At Shriners AuditoriumIn “Community”5 Things You Need To Know In Wilmington Today (February 20, 2017)In “5 Things To Do Today”
Rohingyas from Myanmar cross the border to stream towards Ukhia in Bangladesh. 16 October, Anjuman Para, Palongkhali, Ukhia. Photo: Saiful IslamSome 582,000 Rohingya refugees have now fled Myanmar for Bangladesh since late August, the United Nations said Tuesday, warning that thousands more were still stranded at the border.The UN said between 10,000 and 15,000 new refugees have arrived at the border in the last 48 hours alone, fleeing violence in Myanmar, where Rohingya villages are being burned to the ground.It expressed deep concern about newly arrived refugees including children and elderly people dehydrated and hungry from the long journey who are stranded near the border.One Bangladesh Border Guard (BGB) official told AFP on condition of anonymity that the new arrivals were being held in an area of no man’s land, although it was not immediately clear why.Spokesman Andrej Mahecic said the UN refugee agency (UNHCR) was advocating with the Bangladesh authorities “to urgently admit these refugees fleeing violence and increasingly difficult conditions back home”.He said UNHCR staff had spoken with people who described walking for a week to reach the Bangladesh border.Most are still squatting in paddy fields in Bangladesh, and were waiting for permission to move away from the border, he said.”Every minute counts given the fragile condition they’re arriving in,” said Mahecic.Mahecic said many had chosen to remain in their homes in Myanmar’s Rakhine state despite repeated threats to leave or be killed.”They finally fled when their villages were set on fire,” he said.Many of the new arrivals were from Rakhine’s Buthidaung district, which lies relatively far from the border with Bangladesh.”The military killed my brother. We walked all the way to this land to save our lives,” said Mohammad Shoeb, who arrived at the border with his family on Monday evening.The UN said a jump of 45,000 in its estimated number of newly arrived refugees to 582,000 was due partly to improved access to some areas where many had previously gone uncounted.That figure does not include the thousands currently in no man’s land.The Rohingya are fleeing violence in Myanmar’s Rakhine state, where the UN has accused troops of waging an ethnic cleansing campaign against them.The numbers have soared since August 25, when militant attacks on Myanmar’s security forces in Rakhine sparked a major military backlash.Hundreds more have drowned making the perilous journey. On Monday authorities said they had found the bodies of 10 Rohingya whose boat sank in the estuary of the Naf river that divides the two countries.The UNHCR said it was working with the Bangladesh government to complete a new transit centre in Kutupalong, the largest of the refugee camps housing the Rohingya.Bangladesh has announced plans to build a refugee camp that could accommodate around 800,000 Rohingya in Kutupalong.The camp would be the largest in the world and has raised concerns about the risks of heavily concentrating such a large number of vulnerable people, such as the spread of disease.
President Donald Trump is using his pardon power to keep a pair of turkeys from the Thanksgiving roaster.Trump continued the annual presidential tradition during an event Tuesday in the White House Rose Garden. The act of leniency means 47-pound Drumstick and 36-pound Wishbone will instead get to live the rest of their lives at a Virginia farm. First lady Melania Trump and son Barron joined the president for the light-hearted ceremony.The White House sought public input to determine which gobbler should be pardoned. Trump says Drumstick was the winner, though both birds usually are given a reprieve.President George H. W. Bush established the annual turkey pardon tradition in 1989 when he spared an unnamed, 50-pound turkey.Trump was headed to his Florida estate later Tuesday for Thanksgiving. Share
GABRIEL C. PÉREZ / KUTDell Seton adopted protocols to reduce opioid overdoses among new moms.Two-thirds of Texas hospitals offering maternity services are taking part in a statewide initiative aimed at reducing maternal mortality.Texas health officials this week kicked off a project called “TexasAIM,” an effort to get hospitals to use a set of protocols referred to as “safety bundles.” The goal is to standardize how doctors in Texas deal with pregnant women who are at risk of common complications during pregnancy or shortly after giving birth.The state plans to tackle hemorrhage, hypertension and opioid abuse first. All three are among the leading causes of maternal deaths in the state.“Our goal is to have as many hospitals participate that want to participate,” says Dr. Manda Hall, the associate commissioner for community health improvement at the Texas Department of State Health Services.So far, Hall says, 168 hospitals have joined TexasAIM – that’s out of the 242 hospitals in the state that offer maternity services.“We know that there is an opportunity here to really make a difference here in Texas as it relates to maternal mortality and severe maternal morbidity,” she says. “So, we are very happy to see the number of hospitals that are here today and participating.”During a meeting in Austin on Monday, hospital leaders from across the state met to discuss how they plan to implement the protocols and what it would look like in their own hospitals.“What it looks like in one hospital may look different in another hospital and that’s OK,” Hall says.That’s especially true because some hospitals already have been using these safety bundles.“We didn’t wait for TexasAIM to come along,” says Dr. John Harkins, a professor at UT Austin’s Dell Medical School and physician with Seton hospitals. “We’ve had these because it is evidence-based, and being an academic teaching center, we were able to get these up and running.”And Harkins says he’s already seeing results.“From my own experience, these things work great,” he says. “They save lives.”A lot of what doctors do is repetitive, Harkins says, and these safety bundles create yet another routine – but this one is backed by science.“Physicians at times are loathe to adopt standardization,” he says. “And you hear things like that, ‘You know, well, each patient you have to treat it like an art, and they are all different’ and that kind of stuff. But in certain things, it’s not an art; it is a science.”Harkins also says there are examples out there in the world of strict routines being safer.“Airline pilots go through the exact same protocols and checklists every single time they land a plane,” he says. “They do the exact same thing every time because they know that that is the safest way to get things done.”Texas health officials say there is evidence that creating protocols in hospitals has curbed maternal deaths in other states. For instance, one of the big drivers behind California’s effort to reduce maternal mortality rates was using new protocols in hospitals. In just four years, the state cut its rate by half. Share
BERLIN — Security staff at Berlin’s two airports are staging a strike that is causing disruption to flights.The ver.di union called on staff at the German capital’s Tegel and Schoenefeld airports to walk off the job from 5 to 8:45 a.m. (0400 to 0745 GMT) Monday.German news agency dpa reported that airlines including Lufthansa, Easyjet, Ryanair and Aeroflot cancelled flights ahead of the walkout. Several flights were significantly delayed.Ver.di has said employers “provoked” the strike by offering a pay increase of 2 per cent over two years.The union wants hourly pay for all workers conducting security checks to rise to 20 euros ($22.81). Employer association BDLS says this could amount to a 30 per cent increase in some cases.The next round of talks is due on Jan. 23. Share By: The Associated Press << Previous PostNext Post >> Tags: Airport, Berlin, Strike Berlin airport security staff strike disrupts flights Monday, January 7, 2019
The Asia-Pacific region posted an increase in international passenger numbers of 8.5 percent, compared to the same period last year – owing to improvements in the Chinese and Japanese economies. Global air traffic demand continues to grow year-on-year, with the Asia-Pacific region witnessing some of the strongest international growth last month. Strong demand and increased capacity amounted to positive air traffic results in August 2013. Source = ETB News: P.T. The only region to better this result was the Middle East, rising 10.4 percent during the same period. Internationally-speaking passenger demand rose 5.7 percent, while domestic passenger markets witnessed an increase of 5.1 percent, compared to September 2012. India, China and Russia all posted positive double-digit results for domestic travel in September 2013, when compared to September last year. “We are seeing a more positive environment for air travel demand, based on rising business confidence, a strong increase in export orders in September, and better performance of key emerging markets like China,” IATA director general and chief executive Tony Tyler said. The International Air Transport Association (IATA) has revealed total revenue passenger kilometres increased 5.5 percent in September 2013, compared to the same period last year.
March 10, 2003Plastering in the second floor units of the East Crescent Complex continues. Construction crew member Jeff Buderer. [Photo: Jeff Kunzelman & Text: sa] [from left] Alumnus Angus Gluck has returned to instruct construction crew members Jeffrey Manta and Jeff Buderer in the intrecacies of plaster. [Photo: Jeff Kunzelman & Text: sa] Angus uses a long trawel to smoothen out the second coat of plaster [brown coat] on the ceiling of Unit 10. [Photo: Jeff Kunzelman & Text: sa] This is a hard job on the neck and arms. [Photo: Jeff Kunzelman & Text: sa] The crew finished the ceiling of Unit 10 with what is called a sponge float finish. It can be left as is or is rough enough if a third coat is desired. [Photo & Text: sa] The south-east wall of Unit 8 has received a third and finish coat. A finer milled plaster was used to achieve a very smooth finish. [Photo & Text: sa]
24May Rep. Bollin votes to reform car insurance and deliver guaranteed savings to Michigan drivers State Rep. Ann Bollin joined House colleagues today approving a bipartisan plan to deliver significant car insurance rate relief for drivers across Michigan.The House voted to approve legislation guaranteeing lower rates by giving drivers more choice on personal injury protection coverage, sets reasonable fee schedules and fights fraud and abuse.This bipartisan solution is designed to end Michigan’s long tenure as the state with the most expensive car insurance rates in the nation.Reducing car insurance rates has been a top concern of drivers in Livingston County and throughout Michigan. This issue has been discussed for decades and today the Michigan House of Representatives delivered a solution that will lower auto insurance rates to seven million Michigan drivers.Bollin said: “I am proud to play a part in delivering these reforms to drivers in Livingston County and across Michigan. These changes will lower costs, crack down on fraud and provide more coverage choice.”##### Categories: Bollin News
Verimatrix’s Steve Christian talks about multiscreen content security in the “post-smartcard era”.
Third, Celsion’s LTSL technology promotes an accelerated release of the drug when and where it will be most effective. That allows for direct targeting of organ-specific tumors. Celsion’s LTSL technology has shown that it’s capable of delivering drugs to the tumor site at concentrations up to 30 times greater than those achievable with chemotherapeutics alone, and three to five times greater than those of more traditional liposome-encapsulated drug-delivery systems. The company’s first drug under development is ThermoDox, which uses its breakthrough LTSL technology to encapsulate doxorubicin, a widely used chemotherapeutic agent that is already approved to treat a wide range of cancers. Currently, ThermoDox is undergoing a pivotal Phase III global clinical trial – denoted the “HEAT study” – for the treatment of primary liver cancer (hepatocellular carcinoma, or HCC), in combination with radiofrequency ablation (RFA). RFA uses high-frequency radio waves to generate a high temperature that is applied with a probe placed directly in the tumor, which by itself kills tumor cells in the immediate vicinity of the probe. Cells on the outer margins of larger tumors may survive, however, because temperatures in the surrounding area are not high enough to destroy them. But the temperatures are high enough to activate Celsion’s LTSL technology. Thus, the heat from the radio-frequency device thermally activates the liposomes in ThermoDox in and around the periphery of the tumor, releasing the encapsulated doxorubicin to kill remaining viable cancer cells throughout the region, all the way to the tumor margin. ThermoDox is also undergoing a Phase I/II clinical trial for the treatment of recurrent chest wall (RCW) breast cancer (known as the “DIGNITY study”), and a Phase II clinical trial for the treatment of colorectal liver metastases (the “ABLATE study”). But most of the drug’s (and hence the company’s) value is tied up in the HEAT study. The HEAT trial is a pivotal 700-patient global Phase III study being conducted at 79 clinical sites under a special protocol assessment (SPA) agreement with the FDA. The FDA has designated the HEAT study as a fast-track development program, which provides for expedited regulatory review; and it has granted orphan-drug status to ThermoDox for the treatment of HCC, providing seven years of market exclusivity following FDA approval. Furthermore, other major regulatory agencies, including the European Medicines Agency (EMA) and China’s equivalent, have all agreed to use the results of the HEAT study as an acceptable basis to approve ThermoDox. The primary endpoint for the HEAT study is progression-free survival – living longer with no cancer growth. There’s a secondary confirmatory endpoint of overall survival, too. Both the oncological and investing community are eagerly awaiting the results, which are due any day now. So then, why are we on the sidelines now, right when the big news is due to hit? That all goes back to why Celsion was such a good investment to begin with, and what it can tell us about finding other big wins in the technology stock market. A Winner in the Making When we’re looking for a strong pick in the biotechnology, pharmaceuticals, and medical devices fields – once we have established the quality of the technology itself and ensured it will likely work as expected – there is a simple set of tests we apply to ensure that we’ve found a stock that can deliver significant, near-term upside. The most critical of these are: The technology must provide a distinct competitive advantage over the current standard of care and be superior to any competitors’ effort that will come to market before or shortly after our subject’s does. In other words, it must improve outcomes, by improving patients’ length or quality of life (i.e., a cure for a disease, or a maintenance medication with fewer side effects), or lower costs while maintaining quality of care (i.e., a generic drug). A therapy that does both is all the better. There must a clear path to market in the short term, or another catalyst to propel the stock upward. An investment in a great technology does not always make for a great investment. You have to consider the quality of the management team and structure of the company, including its ability to pay the bills and get to market without defaulting or diluting you out of your positions. And of course, time. The biggest and most frequent mistake investors make in technology is assuming that it is smooth and short sailing from concept to market. Reality is much harsher than that, and in biotechnology and pharmaceuticals in particular – with a tough regulatory gamut to run – the timeline to take a new technology to market can be anywhere from a decade to thirty, forty, or even fifty years. Liposomes are a perfect example of that. Twenty years ago, I probably could have told you a story about a technology that was very similar to what was laid out above. It would be compelling and enticing to investors of all stripes – a breakthrough technology with the promise to revolutionize cancer care by making chemo less toxic and more effective at the same time. Yet had you invested in that promise alone, chances are you’d be completely wiped out by now, or maybe – just maybe – still waiting for a return. That is why we invest in proof, not promises. So, how does Celsion stack up against our four main proof points? Time to market: When we first recommended Celsion, it was in Phase III pivotal trials. This is the last major stage of human testing usually required before a company can submit an FDA New Drug Application and apply to market the product. The process of bringing a drug to market, even once a specific compound has been identified and proven to work in vitro (in the lab), is perilous. Many things can go wrong along the way. If you look at investing in a company whose drugs are just entering Phase I clinical trials, for instance, it is still unclear if the therapy is effective in vivo (in the human body). This is a critical stumbling block for many companies, whose promising compounds immediately prove less effective or more dangerous than testing suggested. Even if Phase I goes well, it can take up to a decade and sometimes longer to get from there to market with a drug. And then, even Phase II trials often leave treatments five or more years from market – though there are exceptions in cases where a therapy is proven very effective or a disease has so few treatment options available. But shortcuts are rare, and investors have to consider the time and expense (which leads to fundraising and ultimately dilutes your return) of getting from A to Z. In this regard, Celsion made a uniquely great investment. When we first recommended the company, it was in the midst of a pivotal Phase III trial and looked to be about a year or so away from its first commercialization. (Though, speaking to the length of these trials, this one had been started back in 2008.) With many of the most high-profile companies in the industry – those working on vogue treatment areas and conditions, like hepatitis C treatments of late – when they get this close to market, the large banks bid up stocks to high levels, content to squeeze just a few percentage points out at the end. They have to be conservative, since they’re investing large amounts of other people’s money. However, biotechnology is such a fragmented space with far more companies than Wall Street can possibly cover in depth, that coming across a gem like Celsion late in the game with a potentially big win is not as uncommon as you’d think. The “efficient market” hypothesis fails to account for the fact that no one can know everything, including every stock. And Celsion had gone all but unnoticed for some time. Payer acceptability: Celsion has the benefit of developing a 2.0-style product, an improvement over something that already exists. RFA is already in relatively widespread use and has proven effective enough that most every insurance and benefits provider will cover it. Even the early generations of LTSL, while not quite as safe or effective as desired, were enough of a benefit to gather pretty solid support from payers. Celsion, through its clinical trial process, has proven its unique blend is safer, better tolerated by patients, and much more effective than its predecessors. Thus, payer support at a reasonable price is a pretty sure bet. Market size: When we originally recommended Celsion, we stated that the company was sitting on a multibillion-dollar opportunity. And we stand by that statement. However, just because something is eventually worth that amount does not mean it’s bankable today as a short-term investment. So we try to keep our analysis narrowly focused on what can be directly counted on and measured. In Celsion’s case, that’s the Phase III treatment, Thermodox, and the one area in which it is being studied: primary liver cancer (HCC). Even just in this narrow band, however, we see the market opportunity for Celsion as in excess of $1 billion. HCC is one of the most deadly forms of cancer. It currently ranks as the fifth most-common solid tumor cancer, and it’s quickly moving up. With the fastest rate of growth among all cancer types, HCC projects to be the most prevalent form of cancer by 2020. The incidence of primary liver cancer is nearly 30,000 cases per year in the US, and approximately 40,000 cases per year in Europe. But the situation worldwide is far worse, with HCC growing at approximately 750,000 cases per year, due to the high prevalence of hepatitis B and C in developing countries. If caught early, the standard first-line treatment for primary liver cancer is surgical resection of the tumor. Early-stage liver cancer generally has few symptoms, however, so when the disease is finally detected, the tumor is usually too large for surgery. Thus, at least 80% of patients are ineligible for surgery or transplantation by the time they are diagnosed. And there are few nonsurgical therapeutic treatment options available, as radiation and chemotherapy are largely ineffective. RFA has emerged as the standard of care for non-resectable liver tumors, but it has limitations. The treatment becomes less effective for larger tumors, as local recurrence rates after RFA directly correlate to the size of the tumor. (As noted earlier, RFA often fails at the margins.) ThermoDox promises the ability to reduce the recurrence rate in HCC patients when used in combination with RFA. If it proves itself in Phase III, there’s no doubt the drug will be broadly adopted throughout the world once it is approved. A quick look at the numbers: According to the most recent data from the National Cancer Institute, the incidence rates of HCC per 100,000 people in the three major markets are 4 in the US, 5 in Europe, and approximately 27 in China. Based on these incidence rates, the total addressable market in these three regions (which we will conservatively assume to be the total addressable worldwide population for the time being) is approximately 400,000 (12,000 in the US, 40,000 in Europe, and 351,000 in China). Assuming that 50% of HCC patients are eligible for nonsurgical invasive therapy such as RFA, approximately 200,000 patients worldwide would be eligible for ThermoDox. Further assuming an annual cost of treatment for ThermoDox of $20,000 in the US, $15,000 in Europe, and $5,000 in China, in line with similar treatments of the same variety, we estimate that the market potential of ThermoDox could be up to $1.3 billion. Not to mention the countless thousands of lives saved. (And that’s before the rest of the developing world comes online.) Of course, this is an estimate of ThermoDox’s potential assuming 100% market penetration – something that simply never happens. While we expect ThermoDox in combination with RFA to become the standard of care for primary liver cancer, a more reasonable expectation for maximum market penetration after a six-year ramp-up to peak sales (from an expected approval in 2013) is probably 40%. Improving outcomes or lowering costs: This is exactly what the Phase III trial was intended to prove: efficacy beyond a shadow of a doubt. Given preliminary data and earlier trial results, it was already a pretty sure thing, so in our model, we assumed about a 70% chance of success (to be on the conservative side, as always – it’s better to be right by a mile than to miss by an inch). Once we incorporate that probability of success into our model, we come to a probability-weighted peak sales figure in 2019 of approximately $365,000,000 annually. The average-price-to-sales ratio among the big players in biotech these days is about 5. If we apply a sales multiple of 3 (i.e., just 60% of the average) to Celsion’s probability-weighted peak sales for ThermoDox in 2019, we come up with a value for the company of nearly $1.1 billion, which would equate to about $33 per share if it did not issue any new stock between now and then – that’s more than 17 times where the stock was trading when we recommended a buy. And remember, these numbers are only for ThermoDox under the HCC indication. Our Move to the Sidelines With final data from the current Phase III pivotal trial due expected to come in within the next few weeks, Celsion’s stock has ballooned in value from the $2 range to $7.50 or so in the past few weeks. Now, that’s a far cry from the $33 price we mentioned above, but remember, that’s a target for 2019. And it doesn’t allow for a whole range of things that could go wrong. Chief among those concerns is that the Phase III data come in more poorly than expected. Even just a small variance in efficacy or a simple question about safety can knock a few hundred million dollars off those sales figures. Or it can push trials back a year or two, delaying returns and sending short-term-minded investors, like those who have recently bid up CLSN shares, retreating to the hills for the time being. Further downfield there is sure to be competition as well, and of course we may get those miraculous chemo-free treatments mentioned up front. In short, we don’t have a crystal ball and can’t tell you what the world will look like in 2019. If you believe yours is clear, ask yourself if you thought touchscreen phones and tablets would outsell traditional computers by 3 to 1 globally in 2012. If not, you might want to give the crystal a polish. To be clear, the value of Celsion in the near term hinges on a binary event – the results of the ongoing HEAT trial. We are of the opinion that CLSN represents one of the best opportunities we’ve come across since we started this letter, and that the probability of a successful trial is high. Nevertheless, there is substantial down side if the trial is unsuccessful. And it could take years to recover, if ever, on news of a delay from any concerns raised. We’d already advised subscribers to take a free ride early on in our coverage of the stock, taking all of the original investment risk away. However, even with that protection, the short-term potential is still more heavily weighted to the down side. Thus, we booked our profits and stepped to the sidelines on this one. Celsion continues to be a model, even at today’s prices, for a great biotech investment with significant upside potential. But we’re content to wait for the market to hand us another, similar opportunity. The pages of Casey Extraordinary Technology are filled with investments just like Celsion – up-and-coming technology companies the market has yet to discover. Subscribe today and save 25% off the regular price, as always backed by our unconditional money-back guarantee. Bits & Bytes More 3D-Printer Magic (Gizmag) Last week, we noted some of the cool things people are doing with 3D printers. But it’s hard to keep up. The tech is blasting ahead so fast that this week we couldn’t resist adding another. Researchers at the University of Warwick, already known for its cutting-edge tech research, have created a cheap, plastic composite that can be used even with low-end 3D printers to produce custom-made electronic devices. The potential here is staggering. Tablets – Hotter than We Thought (Computerworld) Global market-research company IDC has revised its estimate for sales of tablets for 2012 upward by 4.5%, to 122.3 million units. Apple is expected to lose market share to surging Android-based devices. Whose Internet Is It? (GamePolitics) Well, the US Congress appears to think it’s the people’s. Other countries disagree, and have been trying to wrest control of the ‘Net from our hands for a while now. Many want the UN in charge. But this week, the House unanimously passed a Senate resolution calling on the US government to officially oppose any transfer of Net control to the UN. We’d guess this battle is far from over, though. Tattoo You? (Gizmag) Next time you see a runner with a smiley-face tattoo on his or her arm, you might be looking at a sophisticated metabolic sensor, designed to detect stress due to exertion. Of course, we aren’t always in a smiley frame of mind, are we? So if we could just cross one of these things with a mood ring… We are not ones for bragging about our accomplishments. Whether you believe in such mystical forces as karma or not, it’s generally a good rule that those who take too much credit for their successes are soon rewarded with a streak of the opposite, just to keep them humble. However, it is just as important to take stock in your achievements as it is your failures, if you are going to learn and grow as an investor (or in any pursuit). As such, this week I want to introduce you to the story of a company that we recommended to our investment advisory subscribers back in April 2012. It’s since gone on to gain significantly. The stock rose 297% from our initial recommendation to the day the “sell” call was made. What’s important about this small company is why it made our investment list to begin with, and what its characteristics can tell us about successful speculation in the arena of up-and-coming technology companies. Sincerely, Alex Daley Chief Technology Investment Strategist Casey Research Anatomy of Great Technology Investment By Alex Daley, Chief Technology Investment Strategist Traditional cancer treatment options are little more than a crude mix of “slash, burn, and poison” – that is surgery, radiation, and chemotherapy. There are radical new treatments in labs and trials all over the world that promise to throw out this trifecta; no other disease has received more of the research interest and funding that have defined modern biotechnology over the past three decades. I’m not going to tell you about any of those here. Sure, many of them will be wildly successful and make many investors fabulously wealthy over the next few decades. But most will fail. And those that don’t will take a long time to turn a profit for investors. Yet, there is one small company whose unique twist on cancer treatment is proving to be a major upgrade. We profiled this company in a recent edition of Casey Extraordinary Technology, and it turned in a gain of over 167% for subscribers in just six months’ time. It may yet make billions more still for investors. You see, in recent years chemotherapy has become the core treatment for most cancerous malignancies. And while these toxic cocktails of chemicals have proven effective at destroying cancerous cells, they also have one problem. A big one. Chemo, being essentially a poison, doesn’t just attack cancerous cells – it attacks a broad range of healthy cells too. As a result, the treatment can sometimes be as harmful as the cancer itself in the short run. The side effects are awful, and its use can quickly erode patients’ health. Some have even described chemo as a “cure that’s worse than the disease.” This sad state of affairs for the world’s second most-prevalent chronic disease is why the cancer-research arena has been exploding over the past few years with the goal of developing more targeted, less-toxic therapies – in other words, to do a better job killing cancer cells while leaving healthy cells alone. That’s exactly what Lawrenceville, New Jersey-based Celsion Corp. (CLSN) has the technology to do. And chances are the company is on to one of the biggest cancer-treatment breakthroughs in decades. How It Works Our story starts with liposomes. These nanosized artificial vesicles are made from the same material as our cell membranes – natural phospholipids, i.e., a version of the chemicals that make up everything from fat to earwax, and cholesterol. Not long after their discovery in the 1960s, scientists began experimenting with liposomes as a means of encapsulating drugs, especially cancer drugs. Why? Something called the “enhanced permeability and retention” (EPR) effect. This is a property of certain sizes of molecules – for example, liposomes, nanoparticles, and macromolecular drugs – which tend to accumulate in tumor tissue much more than they do in normal tissues. It’s a useful feature for a cancer drug. Thus, they offer a potential way to combat the two biggest drawbacks of traditional chemotherapeutics: systemic toxicity and low bioavailability at the tumor site. In other words, the drugs now employed are themselves are toxic to normal cells, and they tend to get largely used up before they even reach the tumor site. Early attempts to encapsulate drugs inside liposomes did an okay job of dealing with the toxicity issue, but bioavailability at the tumor site was still limited. Our immune system saw to that. Just like virtually anything else artificial we put into our bodies, traditional liposomes were seen as invaders. Thus, they were rapidly cleared by the mononuclear phagocyte system, the part of the immune system centered around the spleen (yes, we do use it) that destroys viruses, fungi, and other foreign invaders. However, a breakthrough arrived when scientists came up with a new way to sneak these artificial compounds into the body undetected by our defenses. The process gave us what are call “PEGylated” liposomes, with a covalent attachment of polyethylene glycol polymer chains. The effect of attaching these little plastic chains to the end of the liposome was to create a “stealth” liposome-encapsulated drug that was hardly noticed by the system. Problem solved, right? Well, not exactly. A lot of hard work went into getting drugs into liposomes to reduce toxicity, then a bunch more into stopping our immune system from kicking in. But there was still yet another problem. The drug-release rates of these stealth liposomes were generally so low that tumor cells barely got a dose. Scientist had made them so stealthy that they even skated right by cancer cells, usually failing to kill off the tumors. After decades of experimenting with liposome-encapsulated cancer drugs, scientists still had not been able to safely deliver therapeutic concentrations of the chemotherapy drugs to all tumor cells. They had to devise a way to induce drug release when and where it would be more effective. The next big idea came in more recent years, as scientists devised temperature-sensitive liposomes. Heat them and they pop, releasing the drugs just when you need them to. From stealth to non-stealth in a matter of seconds, and right on target. Fortunately, they were able to make it work, but unfortunately, not at temperatures that didn’t essentially cook patients from the inside – sort of defeating the purpose of keeping the chemo at bay to reduce collateral damage. They failed to perform at tolerable levels of heat or time. Fifteen minutes of baking and still only 40% or so of the drug was released, and it took temperatures up to 112° Fahrenheit. It might not sound like much, but it was enough to be intensely painful and damaging as well. That’s where Celsion came in. It’s designed and developed a novel form of these temperature-sensitive chemo sacks – the first of their kind to work effectively and safely – otherwise known as a lysolipid thermally sensitive liposome (LTSL). Celsion’s liposomes are engineered to release their contents between 39-42° C, or 102.2-107.6° F (thus, another translation of LTSL has become “low-temperature sensitive liposome”). And they release the contents at an extremely fast rate, to boot. A Better Way to Use Chemo These unique properties of Celsion’s LTSL technology make it vastly superior to previous liposome technology for a number of reasons. For starters, the temperature range is much more tolerable to patients and won’t injure normal tissue. Payers should be easily convinced to cover the new therapy at profitable rates. In the modern world of health care, failure of a treatment to garner coverage from government medical programs like Medicare and the UK Health Service, and private insurance companies (which generally cooperate closely to decide how to classify and whether to cover a treatment) is usually a game-ender. Payers have a responsibility not just to patients but to their shareholders or taxpayers to stay financially solvent. This means that if a therapy does not provide a compelling cost/benefit ratio, then it won’t be covered. For instance, if you release a new painkiller that is only as effective as Tylenol and costs $1,000 per dose, you’re obviously not going to see support. Second, the temperature range takes advantage of the natural effect mild hyperthermia has on tumor vasculature. Numerous studies have shown that temperatures between 39-43° C increase blood flow and vascular permeability (or leakiness) of a tumor, which is ideal for drug delivery since the cancer-killing chemicals have easy access to all areas of the tumor. These effects are not seen at temperatures below this threshold, and temperatures above it tend to result in hemorrhage, which may reduce or cease blood flow, hampering drug delivery. It’s the Goldilocks Effect: The in-between range is perfect. The market must be measurable and addressable. There must be some way to say specifically how many patients would benefit from a therapy, and to ensure that those patients have providers caring for them that would make efficient distribution of the therapy possible. For instance, a successful treatment for Parkinson’s disease might be applicable to hundreds of thousands of patients, with little competition from other treatments, whereas a treatment for Von Hippel-Lindau (VHL) might only reach hundreds. If the goal is to recover years of research investment and profit above and beyond that, then market size matters, as do current and future competitors that might limit your reach within a treatment area.
We’re beginning to approach oversold territory and, as you probably already know, how soon we get to those lows will depend on how quickly the powers-that-be take the remaining slices. A re-read of Ted’s quote above would be useful at this point. And as I type this paragraph, the London open is just under ten minutes away. Gold, platinum and palladium prices are unchanged—and silver is up a nickel. Gold’s net volume is very light at just under 11,500 contracts—virtually all of it of the HFT variety—and silver’s net volume is around 4,200 contracts, with decent roll-overs out of July already. And after rallying about 20 basis points in the early going in Hong Kong trading on their Friday morning, the dollar index is back to unchanged. Without doubt, all eyes will be on the job numbers this morning in New York—and what trading ‘action’ will accompany their release. Of course the job numbers should make no difference to the gold price at all, but a long history shows that JPMorgan et al use that as an excuse on many occasions to drive the precious metal prices into the dirt—and I’ll be amazed if that doesn’t happen this morning. Today we get the Commitment of Traders Report for positions held at the close of COMEX trading on Tuesday—and I doubt if we’ll see much, if any, improvement in the Commercial net short positions in either gold or silver, as the reporting week was pretty flat from a price perspective. All the price action that mattered most didn’t start until the day after the cut-off—and it’s a very safe bet that it was no accident that it happened this way, as “da boyz” have used this trick for at least a decade when they want to hide their tracks for as long as possible. We also get the companion Bank Participation Report as well. This is data that’s extracted directly from the COT Report—and shows what the world’s banks have been up to during the month that was and, as I always say at this juncture, they’re usually up to quite a bit. I’ll have all that data in my Saturday column. And as I send the Friday edition of today’s column out the door at 5:25 a.m. EDT, I see that gold began to develop a slight negative bias starting at 2 p.m. Hong Kong time on their Friday afternoon. Ditto for silver. Gold is down a couple of bucks, but silver is still up a nickel. Platinum and palladium are trading flat. Gold’s net volume is now a bit over 22,000 contracts—and silver’s net volume is pretty decent as well at 6,500 contracts, but there’s been no increase in roll-over activity from over two hours ago. The dollar index was slowly heading south, but has recovered a bit in the last half hour—and is currently down only 3 basis points. As I said above, all eyes will be on the 8:30 a.m. EDT jobs report—and if you’re feeling a bit like that poor chap in the last cartoon posted above, I’ll certainly understand—as I feel that way myself at the moment. Enjoy your weekend, or what’s left of it if you live west of the International Date Line—and I’ll see you here tomorrow. Here’s the 5-minute gold tick chart courtesy of Brad Robertson. As you can tell by the volume spikes, “da boyz” stuck it to the Managed Money traders real good once again during the COMEX trading session. Midnight Wednesday is the vertical gray line—and you have to add two hours for EDT—and the ‘click to enlarge’ feature is a must. The silver chart was similar to gold’s, right up until 3:30 p.m. in the New York Access market. At that point a willing seller stepped in and ensured that silver closed on its absolute low tick of the day. The high and low ticks were reported by the CME Group as $16.50 and $16.065 in the July contract. Silver finished the Thursday session at $16.075 spot, down 40 cents on the day. Gross volume was very decent, as was net volume—46,000 contracts. Avrupa and Antofagasta intersect copper-rich VMS in Pyrite Belt, Portugal • First Greenfields discovery of massive sulfide mineralization in 20 years in the Iberian Pyrite Belt • 10.85 meters of massive and semi-massive/stockwork sulfide mineralization grading 1.81% Cu, 2.57% Pb, 4.38% Zn, 0.13% Sn, and 75.27 ppm Ag • Including 7.95 meters @ 2.21% Cu, 3.05% Pb, 4.82% Zn, 0.15% Sn, 89.8 ppm Ag • Followed by 2.90 meters @ 0.71% Cu, 1.27% Pb, 3.17% Zn, 0.092% Sn, 35.4 ppm Ag • Avrupa and Antofagasta sign an amended Joint Venture Agreement Please visit our website to learn more about the company and current exploration program. Platinum prices were a mini version of the gold price chart—and palladium was a mini version of the platinum chart. Platinum closed on Thursday at $1,098 spot, down three bucks, finally cracking the $1,100 spot price to the downside. Palladium also closed 3 dollars lower at $753 spot. Here are the charts. The CME Daily Delivery Report for Day 5 of the June delivery month showed that zero gold and 9 silver contracts were posted for delivery within the COMEX-approved depositories on Monday. Nothing to see here. The CME Preliminary Report for the Thursday trading session showed that gold open interest for June dropped another 282 contracts, leaving 1,262 still open. June o.i. in silver was up 7 contracts to 40. There was no reported change in GLD, but another deposit was made in SLV. This time it was 1,433,379 troy ounces. So far this week, there has been a bit over 2.5 million ounces deposited in SLV. Since the price action indicates that silver should be flowing out of that ETF, the deposits must have been used to cover an existing short position. We’ll have to wait until about June 23 when the next short position report comes out of the folks over at shortsqueeze.com in order to get a hint of what might be going on. Since yesterday was Thursday, Joshua Gibbons, the Guru of the SLV Bar List, updated his website with the goings-on over at the iShares.com Internet site at the close of trading on Wednesday—and this is what he had to report. “Analysis of the 03 June 2015 bar list, and comparison to the previous week’s list: 1,138,121.2 troy were added (all to Brinks London), 893,539.6 oz were removed (all from Brinks London), and 113 bars had serial number changes.” “The bars removed were from: Solar Applied Materials (0.3M oz, Krasnoyarsk (0.2M oz), and 10 others. The bars added were from: Krasnoyarsk (0.2M oz), Prioksky (0.1M oz), and 13 others. “As of the time that the bar list was produced, it was overallocated 384.9 oz. All daily changes are reflected on the bar list.” Over at Switzerland’s Zürcher Kantonalbank for the week ending May 29—they reported tiny declines in both their gold and silver ETFs. Their gold ETF shed 1,804 troy ounces—and their silver ETF dropped only 7,123 troy ounces. After four straight day of sales, it should come as no surprise that there was no report from the U.S. Mint yesterday. Over at the COMEX-approved depositories on Wednesday, there was 50,092 troy ounces of gold transferred from Canada’s Scotiabank to HSBC USA. Other than that, there was no activity worth mentioning, but the link to what there was, is here. It was another huge in/out day in silver, as 411,788 troy ounces were received—all at JPMorgan’s vault—and 1,012,058 troy ounces were shipped out. All of the ‘out’ movement was from Canada’s Scotiabank, including the 411,788 troy ounces that JPMorgan received. The link to that action is here—and it’s worth a quick look. There wasn’t a lot of activity at the COMEX-approved gold kilobar depositories in Hong Kong on their Wednesday, as only 775 kilobars were reported received—and another 475 were shipped out. All of the action was at Brink’s, Inc. as usual. The link to that activity is here. I have a fair number of stories for you today—and I’ll happily leave the final edit up to you. Since we penetrated for the first time to the downside the key 50-day moving average in silver on Wednesday, I suppose the official price take-down cycle is now in effect. Gold, you’ll remember, had penetrated its 50-day moving average a week or so ago, so the market structure there is more advanced than it is in silver. Therefore, in silver, it’s more a question of how many contracts the commercials can induce the managed money traders to sell than it is how low prices must fall. It’s more about contracts sold than prices, although successive lower prices (salami slicing) are necessary to effect the full contract count outcome. In other words, it’s not necessary that we drop dramatically in price, just enough—and in the manner necessary to accomplish whatever complete managed money selling results this go around. Of course, please dismiss any suggestion that I (or anyone else) know for sure the direction of prices in the short term. This is about probabilities based upon the same thing that those probabilities have always been based on – past and prospective COT patterns. And even though those probabilities suggest lower silver prices ahead, any such decline should prove minor compared to the eventual much higher prices that the actual fundamentals and facts point to. While I hope my COT analysis is beneficial, please understand it is not my intent to handicap silver prices in the short term, although many others do seem so engaged. Instead, my intent is to use my analysis of the COT market structure to show just how screwed up is the price discovery process on the COMEX and, after 30 years, it is encouraging to see that at least one silver miner may feel the same. In the unfortunate circumstance that the probabilities once again prove correct and we do witness further declines in the price of silver, perhaps that might aid in convincing other silver producers to step up to the plate and write to the CFTC. Trying to come up with rational explanations for why silver and gold prices behave as they do, while leaving out the COT market structure on the COMEX, is guaranteed to reduce one to the babbling idiot level. — Silver analyst Ted Butler: 05 June 2015 Another day—and more salami slicing in the all four precious metals, particularly gold and silver. There was decent volume associated with both metals, so it’s an absolute certainty that the Managed Money was puking longs and piling on the short side, while JPMorgan et al gobbled up everything on the opposite side of those trades for fun, profit and price management purposes. And it was a very profitable day for “da boyz” yesterday. Here are the 6-month charts for all four precious metals—and new lows were engineered in three of the four precious metals. The gold stocks opened down—and chopped more or less sideways for the remainder of the day, as the HUI closed down another 1.35 percent. It was more or less the same thing in the silver equities, although the trading day had more shape to it. The big drop because someone sold a boat load of shares in Peñoles right at the close, at least that’s what Nick said yesterday when I asked him. Because of that, Nick’s Silver Sentiment Index got hit for 2.26 percent. Without that share dump, the loss would have been about 0.5 percent. Without doubt, all eyes will be on the job numbers this morning The gold price chopped around, mostly lower, during the Far East trading session on their Thursday—and both the rally attempt in the Far East—and the one in early London trading, met with a resolute seller the moment that the price attempted to break above unchanged. JPMorgan et al, HFT algorithms in hand, did the dirty starting the moment that COMEX trading began—and by around 11:20 a.m. EDT, their work was done for the day, with another low for this move down. The gold price rallied quietly after that, before chopping sideways starting around 2:40 p.m. in electronic trading. The high and low tick were recorded as $1,186.60 and $1,172.40 in the August contract. The gold price closed in New York yesterday at $1,176.40 spot, down another $8.60 from Wednesday’s close. Net volume was very decent at 148,000 contracts. Here’s the 6-month U.S. Dollar chart as a reference. The dollar index finished the Wednesday trading session in New York at 95.37—and traded virtually ruler flat until about 1:30 p.m. Hong Kong time. At that juncture it rallied 20 basis points, hitting 95.56 at 8:30 a.m. BST in London trading. It fell of a cliff at 9 a.m. right on the button, hitting its 94.72 low about thirty five minutes later. Then at noon BST it appeared that ‘gentle hands’ showed up—and the dollar rallied to a handful of basis points above unchanged minutes before trading began in the equity markets in New York. It rallied higher from there in a rather choppy manner—and closed yesterday at 95.58—up 21 basis points from Wednesday. It’s obvious to me that the dollar would crash if given the opportunity to do so—and it’s equally as obvious that the powers-that-be are at hand to prevent that from happening.