Waddell is the Mystery Trader in Last Thursday's Market Plunge:

http://www.reuters.com/article/idUSTRE64D42W20100514

(Reuters) - A big mystery seller of futures contracts during the market meltdown last week was not a hedge fund or a high frequency trader as many have suspected, but money manager Waddell & Reed Financial Inc, according to a document obtained by Reuters.

Waddell sold on May 6 a large order of e-mini contracts during a 20-minute span in which U.S. equity markets plunged, briefly wiping out nearly $1 trillion in market capital, the internal document from CME Group Inc said.

The e-minis are one of the most liquid futures contracts in the world, providing holders exposure to the benchmark Standard & Poors 500 Index. The contracts can act as a directional indicator for the underlying stock index.

Regulators and exchange officials quickly focused on Waddell's sale of 75,000 e-mini contracts, which the document said "superficially appeared to be anomalous activity."

Gary Gensler, chairman of the Commodity Futures Trading Commission, said in congressional testimony on Tuesday that it had found one sale was responsible for about 9 percent of the volume in e-minis during the sell-off in the U.S. markets.

Gensler said there was no suggestion that the trader, who he did not identify, did anything wrong in only entering orders to sell. Gensler said data shows that the trades appeared to be a bona fide hedging strategy.

The CME document shows that during the sell-off and subsequent rally, other active traders in e-minis included Jump Trading, Goldman Sachs, Interactive Brokers, JPMorgan Chase and Citadel Group.

During the 20-minute period, 842,514 contracts in e-minis were traded while Waddell from 2 p.m. to 3 p.m. traded its contracts, CME said. The CME document did not provide a break-out of Waddell's trading during the crucial 20 minutes.

Overland Park, Kansas-based Waddell did not comment. CFTC also declined to comment.

A CME spokesman, who declined to comment on the document, said the Chicago-based futures exchange operator never discusses customer activity.

"We found no evidence of improper trading activity or erroneous trades by CME Globex customers," said CME spokesman Allan Schoenberg.

Waddell's contracts were executed at Barclays Capital and later given up to Morgan Stanley, according to the document.

CME said it spoke to representatives from both banks on May 6 and planned to speak to Waddell representatives the following day. The firm oversaw $74.2 billion in assets as of March 31.

Morgan Stanley told CME that it "did not have concerns regarding the activity," the document said, because Waddell "would typically use equity index futures to hedge macro market risk associated with the substantial long exposure of its clients."

'QUITE A SHOCK TO THE MARKET'

Gensler said the contracts were sold between 2:32 p.m. and 2:51 p.m., the height of the meltdown.

The market for e-minis on May 6 fell more than 5 percent in a little more than 5 minutes starting at 2:40 p.m. -- the height of the crash, the document said. The e-minis began to recover before stock prices turned higher.

An order the size of the Waddell contract would be a big trade to execute on a normal day, said a trader whose firm is active in S&P 500 futures market. About 50,000 contracts are typically traded in an hour, the trader said.

"To get rid of 75,000 contracts, that's a lot of trading even if the market is healthy," the trader said. "But when suddenly the market changes and there's not as many bids there to trade with, 75,000 is going to cause quite a shock to the market."

"That's an enormous position for anybody, whether it's a hedge or whether it's a trade. It's a big position, no doubt about it," the trader said.

(Additional reporting Matthew Goldstein)

(Reporting by Herbert Lash and Jonathan Spicer. Editing by Robert MacMillan)

Is Goldman Sachs the Anti-Christ?...

The Daily Bell
Saturday, May 08, 2010

http://www.thedailybell.com/1035/Goldman-Sachs-the-Anti-Christ.html

This debate is going to be crystallised in the Goldman case. Much of America is going to reflexively insist that Goldman's only crime was being smarter and better at making money than IKB and ABN-Amro, and that the intrusive, meddling government (in the American narrative, always the bad guy!) should get off Goldman's Armani-clad back. Another side is going to argue that Goldman winning this case would be a rebuke to the whole idea of civilisation – which, after all, is really just a collective decision by all of us not to screw each other over even when we can. It's an important moment in the history of modern global capitalism: whether or not to move forward into a world of greed without limits. – UK Guardian/Matt Taibbi
Dominant Social Theme: Goldman bad. Very bad.

Free-Market Analysis: We always have to start these articles off with the requisite nod to the fierce Gods of Ancient (and Modern) Days. So let's get it out of the way. Here goes ... Goldman is a horrible, smug, abusive institution with obvious ties to the power elite. It may indeed be the heart of darkness on Wall Street, the instrument through which the elite maneuvers as it plies its mercantalistic trade.

But the key word here is mercantilism. More than almost any other firm, Goldman sits at the intersection between government and private industry in America. That's how it makes its money. By using and abusing the laws of the land to line its own pockets. However, apparently, that is not a conversation that Americans can have anymore. Thomas Jefferson would have it – and often did have it both privately and in the presence of others.

American Founding Fathers generally understood (maybe with the exception of Alexander Hamilton) that the best government is the government that governs least. Matt Taibbi, who is a very talented journalist and writer, seems only to understand that government should act as a "boot stamping on the face of Goldman Sachs – forever." (Apologies to George Orwell.) This article appeared in the UK Guardian late April, but given all that is happening on Wall Street these days (and Taibbi's general relevance), an analysis seems fairly timely to us.

One of the problems from our point of view is that even if one grants that government can find the right face to stamp, there is no guarantee that ten years from now government will not be stamping on YOUR face. You may derive a great deal of satisfaction from using the regulatory levers of government to pry triumphant justice – dripping with gore – from the chest cavity of Goldman Sachs, but maybe (just maybe) you are fooling yourself or setting yourself, your family and your country up for an abusive situation. Here's some more from this brilliantly polemical piece:

Will Goldman Sachs prove greed is God? ... The investment bank's cult of self-interest is on trial against the whole idea of civilisation – the collective decision by all of us not to screw each other over even if we can ... So, the world's greatest and smuggest investment bank, has been sued for fraud by the American Securities and Exchange Commission. Legally, the case hangs on a technicality. Morally, however, the Goldman Sachs case may turn into a final referendum on the greed-is-good ethos that conquered America sometime in the 80s – and in the years since has aped other horrifying American trends such as boybands and reality shows in spreading across the western world like a venereal disease.

When Britain and other countries were engulfed in the flood of defaults and derivative losses that emerged from the collapse of the American housing bubble two years ago, few people understood that the crash had its roots in the lunatic greed-centered objectivist religion, fostered back in the 50s and 60s by ponderous emigre novelist Ayn Rand ... Here in the States, her ideas are roundly worshipped even by people who've never read her books or even heard of her. The rightwing "Tea Party" movement is just one example of an entire demographic that has been inspired to mass protest by Rand without even knowing it.

Last summer I wrote a brutally negative article about Goldman Sachs for Rolling Stone magazine (I called the bank a "great vampire squid wrapped around the face of humanity") that unexpectedly sparked a heated national debate. On one side of the debate were people like me, who believed that Goldman is little better than a criminal enterprise that earns its billions by bilking the market, the government, and even its own clients in a bewildering variety of complex financial scams.

On the other side of the debate were the people who argued Goldman wasn't guilty of anything except being "too smart" and really, really good at making money. This side of the argument was based almost entirely on the Randian belief system, under which the leaders of Goldman Sachs appear not as the cheap swindlers they look like to me, but idealised heroes, the saviours of society.

In the Randian ethos, called objectivism, the only real morality is self-interest, and society is divided into groups who are efficiently self-interested (ie. the rich) and the "parasites" and "moochers" who wish to take their earnings through taxes, which are an unjust use of force in Randian politics. Rand believed government had virtually no natural role in society. She conceded that police were necessary, but was such a fervent believer in laissez-faire capitalism she refused to accept any need for economic regulation – which is a fancy way of saying we only need law enforcement for unsophisticated criminals. Rand's fingerprints are all over the recent Goldman story.

For us, Matt Taibbi (despite his polemics) ends up in such articles being an apologist for the system as it is. He apparently supports the SEC prosecution of Goldman Sachs for various civil crimes as part of what he perceives as elemental fairness. But does Taibbi know what the SEC really is? Has he studied it? Does he understand that Wall Streeters smirk that the SEC is part and parcel of a larger "regulatory capture" by the Street and that many of the SEC's ambitious staffers dream of going to work on Wall Street for fat paychecks. The insanely elaborate regulatory system in America NEVER does what it is supposed to. It is not only dysfunctional but actually organized so as to raise barriers of entry to the securities business. The ONLY thing that SEC prosecution of Goldman will really end up doing is raising more barriers, which will further empower Wall Street's largest banks.

And how can someone as bright as Taibbi not understand that Wall Street itself is a creature of central banking. Without central banks money flows and economic euphorias brought on by the over-printing of money, Wall Street would likely not exist as such an attractive money magnet. Add in regulation, beginning in the 1930s after the great depression, and you have monstrous mish-mash that empowers the powerful, concentrates capital in certain investment entities and generally works to strip Americans of their wealth and hopes once every business cycle (every 10-20 years). The regulatory structure of America, when combined with mercantilist central banking itself, is the prime facilitator of this horrid system.

Taibbi might have a point about Rand if it weren't for the central banking and regulatory structure that surrounds Wall Street and empowers it. Wall Street is actually as far from Rand's idea of independent, laissez-faire self interest as it could possibly be. Every part of Goldman's business is based to one degree or another on federal laws and regulations. We would bet at this point in the history of US "free-markets" that you could not find a SINGLE transaction in which Goldman participates in that does not have some sort of regulatory color.

Taibbi is just like Simon Johnson in our book (see other article, this issue of the Bell) – blasting Wall Street and Goldman in particular without any regard to the larger frame of reference in which Goldman functions. Such analysis at this point in time is beyond naïve in our opinion. It verges on the manipulative. Does Taibbi really believe that the US government retains some sort of collective moral purity that is absent on Wall Street? No, Washington DC and Goldman Sachs are two sides of the same coin.

Because the mainstream media is the way it is, if there is a legal battle between Goldman and the SEC, the mainstream media shall probably partake of some of the positioning that Taibbi has already presented. The young lawyers at the SEC (yearning to work on Wall Street) will be presented as warriors for the aggrieved middle class and the young traders and bankers at Goldman shall be presented as Godless, greedy sociopaths.

Conclusion: Go on YouTube these days and watch videos of American civil and military authorities busting down doors and shooting family mutts while in search of dollar bags of marijuana, or throwing Canadian tourists in jail for not being polite enough when crossing the border, or tasering fans running across baseball fields. Read about the debates in the American congress over additional taxes for Americans and how the IRS is going to be equipped with shotguns, apparently to help with collections. Read about how Homeland Security is targeting American military veterans as potential terrorists, and those who participate in Tea Party protests, too. Go online and try to understand the ramifications and results of America's serial wars in the Mideast – the radiation poisoning from depleted-uranium weapons and the endless civilian killings. We understand that Goldman is a "great vampire squid" but what has the US government become? Taibbi defines civilization as "a collective decision by all of us not to screw each other over even when we can." What mirror is he looking in?

America at the Crossroads - and the War on Gold:

Darryl Robert Schoon
Posted May 4, 2010

http://www.321gold.com/editorials/schoon/schoon050410.html

Every so often a philosophical dilemma becomes real. So it is today. For two thousand years, the message of Christ Jesus influenced and informed the West, if not in deed, then in word. Today, that is no longer so. Today, godless capitalism is threatening to supplant the two millennia reign of Christ's message of brotherly love - if not in word, then, certainly, in deed.

In times of great change, art reflects social and philosophical undercurrents. The movie, Avatar, is an example of this phenomenon as was the movie, Wall Street, in 1987. Gordon Gekko, Oliver Stone's protagonist in Wall Street probably didn't read much; but, if he did, a book such as A Utopia of Greed: Ayn Rand's Moral Defense of Capitalism could have been on his reading list.

One of Gordon Gekko's more memorable lines is Greed, for want of a better word, is good. Greed is good is also one of Ayn Rand's fundamental beliefs; and, if Karl Marx is the father of godless communism, Ayn Rand, America's premier doyenne of selfishness, is the patron saint of its antagonist, godless capitalism.

Alisa Rosenbaum was born in Russia in 1905 where she would later change her name to Ayn Rand. In her youth, she would become an atheist, a belief she would hold for the rest of her life. No other self-proclaimed atheist would achieve such a large following - except perhaps Karl Marx; additionally, no other writer would be as responsible for giving philosophical cover to the selfishness and greed that would later characterize American-style "laissez-faire" capitalism.

Ayn Rand saw selfishness and greed as virtues; and, to their later disgrace, so, too, did many others.



Ba'al: the Golden Calf of Capitalism Grows Up:

When Ayn Rand died in 1982, a six foot floral wreath in the shape of a US dollar was laid by her casket; a symbol that was to be ironically appropriate as Ayn Rand's death would precede the demise of the US dollar by only a few short decades.

Nothing exemplified the effect that Ayn Rand's philosophy would have on America as much as the movie, Wall Street. Released in 1987, it reflected the values that would be responsible for America's moral decline over the next 30 years. This 45 second clip from Wall Street is chillingly revelatory:



In September 2010, Oliver Stone's sequel to Wall Street, Money Never Sleeps, is scheduled for release with an older but still unrepentant Gordon Gekko. After the 1980s, greed did not go away in America - it flourished.

AYN RAND, GOLDMAN SACHS & GOD:

Nowhere was Ayn Rand's influence felt more than on Wall Street. The selfishness and greed that Ayn Rand exalted found a natural home among Wall Street banks, especially Goldman Sachs where Senior Partner Gus Levy succinctly summed up Goldman's strategy as long term greed. It was a mission statement Ayn Rand could be proud of.

It is incorrect, however, to attribute Wall Street's greed solely to Ayn Rand. Greed and selfishness existed long before she posited the two vices as virtues, just as free markets existed long before capitalism was illegitimately birthed in a manger of paper money at the Bank of England in 1694.

Ayn Rand's writings are nonetheless responsible for giving greed and selfishness the sheen of respectability they previously lacked, especially among the bespoke jackals that serve our currencies back to us in the form of loans.

In defense of today's bankers, Goldman Sachs CEO Lloyd Blankfein recently stated, We are doing God's work; and, so, they are, if capitalism's culling of the trusting, vulnerable and less fortunate is included in Blankfein's novel definition of God's calling.

[I] managed to sell a few [worthless] abacusbonds to widows and orphans that I ran into at the airport.. not feeling too guilty about this, the real purpose of my job is to make capital markets more efficient. email, 6/13/2007, Fabrice Tourre, vice-president Goldman Sachs

If it is God for whom Blankfein toils - at enormous compensation, i.e. $68 million in 2007 - it is not the God of the New Testament where Christ Jesus admonishes us to be our brother's keeper. It is the Hindu God, Shiva, the destroyer and transformer for whom Blankfein puts in overtime; and in that capacity he has done yeoman's work for which he is to be congratulated.

Goldman Sachs, more than any other bank, under Blankfein's leadership has played a central role in destroying capitalism, i.e. economies based on bankers' debt-basedcapital, a parasitoidal system bankers designed to indebt productivity and commerce for profit until society collapses.

PAPER MONEY - GOLD = PAPER
SHIVA'S DANCE OF CAPITAL DESTRUCTION:

While Lloyd Blankfein's contribution to capitalism's demise should not be minimized, capitalism's current problems actually began in 1971 when gold, one of the four essential ingredients in the bankers' brew of debt-based money, was eliminated from the classic formula that had served bankers and governments so well for so long.



Capitalism's recipe insures government's infinite growth as government access to central bank credit is unlimited and bankers will profit from loaning paper money into perpetuity.

When gold was removed from paper money in 1971, this simple yet powerful recipe for capitalism's success was fundamentally altered and so, too, would be capitalism. It would only be a matter of time until capitalism sans gold would falter.

Lloyd Blankfein, Robert Rubin, Lawrence Summers and Alan Greenspan et. al., individually and collectively, would only hasten the process. Lord Shiva's dance of capital destruction was already underway; because without gold, the illusion of paper money as money is only an illusion. Without gold, paper currencies are only coupons with expiration dates written in invisible ink.

To call capitalism a monetary system is a misnomer. It's a financial shakedown, a scheme whereby bankers profit by inserting debt into every aspect of human activity. Eventually, everyone becomes indebted beyond their capacity to repay and the system collapses.

The bankers' indebting of others eventually will end in their own demise, with governments, businesses, and consumers drowning in debt and banks insolvent. Capitalism is an economic parasitoid, a parasitic system where parasite and host both expire.

A parasitoid is an organism that spends a significant portion of its life history attached to or within a single host organism, which it ultimately kills (and often consumes) in the process. Thus they are similar to typical parasites except in the certain fate of the host.
http://en.wikipedia.org/wiki/Parasitoid

As with all life-forms, parasitoids will do everything to insure their survival while blind to the fact it is their actions that will destroy them. Until its self-inflicted end, capitalism will struggle to survive and expand - and a part of that struggle is the bankers' war on gold.

THE WAR ON GOLD:

The IMF.. explicitly states in its Articles of Agreement that member countries are prohibited from tying their currencies to gold.

Gold Wars, Ferdinand Lips, The Foundation for the Advancement of Monetary Education, New York

In 2001, Ferdinand Lips published Gold Wars, his book that describes the bankers' ongoing war on gold. That Lips, a Swiss banker, would write such a book is to our benefit as the Swiss have a unique, historical, and deep respect for the monetary metal.

Curiously, Lips had earlier been an agent for the infamous Rothschild banking family. In 1968 he was co-founder and Managing Director of Rothschild Bank AG Zurich. As such, Lips had an insight into the world of gold that few had and some believe it would later cost him his life.

One story in Gold Wars is of particular interest as it involves John Exter, the extraordinary central banker (formerly vice-president in charge of international banking and gold and silver operations at the New York Federal Reserve), and Paul Volcker, later Fed chairman and erroneously believed by many to be a hero.

Exter's story shows Volcker in entirely different light, not as a hero but as the one responsible for the removal of gold from the monetary system. Volcker, according to Exter, played a central role in the decision to do so.

In Gold Wars (pp.76-77) John Exter tells Ferdinand Lips how the decision to demonetize gold was made: On August 10, 1971, a group of bankers, economists and monetary experts held an informal meeting... to discuss the monetary crisis. Around 3 o'clock in the afternoon, a big car rolled up with Paul Volcker in it. He was then Under-secretary of the Treasury for Monetary Affairs.

We discussed various possible solutions. As you would expect, I was for tight money - raising interest rates - but that was overwhelmingly rejected... As for raising the gold price, as I suggested, Volcker said it made sense, but he didn't think he could get it through Congress.

At one point, Volcker turned to me and asked what I would do. I told him that since he wouldn't raise interest rates and wouldn't raise the price of gold, he only had one option... he'd have to close the Gold Window... Five days later Nixon closed the Gold Window.

The final link between the dollar and gold was broken. The dollar became nothing more than a fiat currency and the Fed [and especially the banks] were then free to continue monetary expansion at will. The result... was a massive explosion of debt.

Paul Volcker, then, is the one who eliminated gold from capitalism's 300 year-old recipe for power and wealth. Karl Marx was right when he predicted that capitalism would destroy itself. We just didn't know it would be Paul Volcker who would pull the plug.

THE SLEDGEHAMMER THAT BROKE THE CAMEL'S BACK:

The explosion of debt allowed by Volcker's removal of gold in 1971 has now reached extraordinary levels. In 1971, US debt was $436 billion. Today, US government obligations exceed one hundred trillion dollars. Tethering the dollar to gold was the one constraint on US spending. Volcker eliminated that constraint thus enabling the US to indebt itself ad infinitum - and it did.

Debt, the inevitable effluvia of credit, is Shiva's final shiv in capitalism's back. But it is not the indebtedness of those the bankers indebted that are now causing capitalism's final paroxysms. It's the debts of the banker's themselves.

When US banking and financial interests repealed the Glass-Steagall Act, it reopened the doors to another depression, doors that had been sealed since the 1930s. Prior to its repeal in 1999, Congressman John Dingall (D-Mich) whose father helped write Glass-Steagall in 1933 warned:

What we are creating now is a group of institutions which are too big to fail... Taxpayers are going to be called upon to cure the failures we are creating tonight, and it is going to cost a lot of money, and it is coming.

Congressman Dingall's warnings were ignored by both republicans and democrats. The republican-sponsored bill to repeal Glass-Steagall was passed overwhelmingly in the House by both parties (362-57) and in the Senate (90-8) effectively enslaving America's future generations, gratis of a $300 million lobbying effort by banks and insurance companies.

The beauty of paper money is that it buys real power

Once again, both republicans and democrats sold out the nation's future and allowed banks to bet the savings of America, this time with obscene leverage of 40:1 and more. Not surprisingly when the banks bet the house and lost, the house collapsed.

Politicians can't be bought. They can only be leased.

When bankers couldn't cover their losses, governments came to their rescue and indemnified them with taxpayer money. But the trillions of dollars spent to rescue banks and restart capitalism's broken engine is not being levied on the banks. It's being levied on those who saved them. The current upsurge in sovereign debt is the cost of the bankers' crisis subsumed into national ledgers.

Recently, President Barack Obama went to Wall Street to ask for help in reforming the financial system. Asking Wall Street's help with financial reform is akin to Neville Chamberlain asking Hitler to assist in redrawing Europe's borders. The current effort is designed not to fix the system, but to continue it.

Avarice is never appeased. Greed is never satisfied and the fires that Ayn Rand inflamed will not subside until the house that fanned them and gave them shelter burns to the ground. The bankers have come too far to go back. There is only the road ahead - and it's a cliff.

SHIVA'S COMING MAKEOVER:

I end my articles with the words: buy gold, buy silver, have faith. Of the three, I believe faith to be the most important, the most valuable and the least understood. A strong and unwavering belief in an intellectual construct is not faith, though many believe it to be.

Faith is a knowing that we are one with our Source, despite all appearances to the contrary. Finding faith in a tautological matrix that creates its own reflection is not easy. Faith exists despite the world of appearances; despite maya; despite - and not because of - human ignorance.

In March 2007, I delivered my paper predicting a severe economic collapse to Marshall Thurber's Positive Deviant Network (the PDN) and the reaction was disbelief and anger except for the very few already invested in gold.

In 2008, one year later, after $6 trillion of worth had been stripped from global markets, the Positive Deviant Network was more predisposed to hear what I had to say. That February, I gave a talk to the PDN on what I believed to be the real reasons for the crisis. My talk, America at the Crossroads, can now be viewed on YouTube in four parts: http://www.youtube.com/watch?v=4xjKnATlxMY

At its birth, America embodied the highest hopes of mankind but is now a tragic caricature of those great ideals. As it enters the 21st century, America finds itself bankrupt morally as well as financially. Its ideals stood the test of time but America did not.

Two hundred years ago, Thomas Jefferson warned America about the dangers of private bankers and standing, i.e. permanent, armies. Fifty years ago, President Eisenhower warned America about the dangers posed by the emerging military-industrial complex; and ten years ago, Congressman Dingall warned America about the danger of repealing Glass-Steagall.

America was warned and America didn't listen. Now, the price must be paid. Shiva's dance of destruction and transformation is underway. The destruction comes first, the transformation comes next - but only if America first changes its ways.

It's coming to America first,
the cradle of the best and of the worst.
It's here they got the range
and the machinery for change
and it's here they got the spiritual thirst.
It's here the family's broken
and it's here the lonely say
that the heart has got to open
in a fundamental way
Democracy is coming... to the USA

--Leonard Cohen, 1984

Leonard Cohen's simply-stated truth - that the heart has got to open in a fundamental way - is the crucial prerequisite for America's transformation. During America's drive for self-aggrandizement, world dominion, corporate profits and billion-dollar bonuses, America lost its way - and lost touch with its heart in the process.

America is at a crossroads. It has already chosen. It'd best do so again.

What's the difference between a pendulum and a wrecking ball?
Sometimes nothing.

Buy gold, buy silver, have faith...

Ten Ways the American Economy Is Built on Fraud:

This summary is not available. Please click here to view the post.

ANX - ADVENTRX Pharmaceuticals Inc. Sets Meeting With FDA to Discuss ANX-530 NDA:

ADVENTRX Sets Meeting With FDA to Discuss ANX-530 NDA:

Press Release Source: ADVENTRX Pharmaceuticals, Inc. On Friday March 26, 2010, 8:30 am EDT
SAN DIEGO, March 26 /PRNewswire-FirstCall/

ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced that it will meet the U.S. Food and Drug Administration (FDA) in Washington D.C. during the last week of April 2010 to review the Company's New Drug Application (NDA) for ANX-530 (vinorelbine injectable emulsion) and the FDA's refusal-to-file letter.

ADVENTRX had requested a face-to-face meeting with the FDA to understand its requirements and define the path to a successful filing of an ANX-530 NDA at the earliest possible time.

"We look forward to meeting with the agency next month to clarify the necessary steps for filing the ANX-530 NDA this year," said Brian M. Culley, Chief Executive Officer of ADVENTRX.

ADVENTRX submitted an NDA for ANX-530 to the FDA in December 2009. The Company announced on March 1, 2010 that it had received a refusal-to-file letter from the FDA regarding that submission. In the letter, the FDA indicated that the data included in the December 2009 NDA submission from the intended commercial manufacturing site was insufficient to support a commercially-viable expiration dating period. The FDA identified only this one chemistry, manufacturing and controls (CMC) reason for the refusal to file. No clinical or nonclinical issues were identified.

About ADVENTRX Pharmaceuticals:

ADVENTRX Pharmaceuticals is a specialty pharmaceutical company whose product candidates are designed to improve the performance of existing cancer treatments by addressing limitations associated principally with their safety and use. More information can be found on the Company's web site at www.adventrx.com

http://finance.yahoo.com/news/ADVENTRX-Sets-Meeting-With-prnews-3495683683.html?x=0&.v=1

Stocks to Watch on Monday March 22nd, 2010: ANX - HDY - RNN - GSL - IDT - POL - FORD - GENT

Three AMEX Stocks: ANX - HDY - RNN:

ANX - There may be some news released next week, giving a date for the the face-to-face meeting with the FDA about the Refuse to File Letter on the NDA for their drug ANX-530.



HDY - It closed above the 15 Moving Average on above average Volume on Friday. All of the technical indicators are showing upticks, and look much more Bullish than they have in the past.



RNN - May be starting another run here. Look at what happened the last time the CCI crossed up through the +100 line. Volume picked up on Friday, and most of the technical indicators are showing improvement.



Three NYSE Stocks:

GSL - Has broken above a previous level of Resistance on above average Volume. Most of the technical indicators are showing signs of improvement.



IDT - It may be a bit too late to catch this Runaway Train, but Volume keeps increasing as it rallies, and all of the technical indicators look very Bullish.



POL - Had a HUGE pop up on Friday with over five times average daily Volume. Every one of the technical indicators are very Bullish.



Two NASDAQ Stocks:

FORD - Has broken above all levels of Resistance on above average Volume, and every technical indicator is upticking very sharply and are looking Bullish.



GENT - Also broke above all levels of Resistance on Friday on very high volume. All of the technical indicators are looking Bullish at this time, except the Accumulation/Distribution line (black). That was most likely due to massive profit taking on the huge pop up it did.



Happy Trading next week,
zigzagman

ADVENTRX Receives Brand Name Acceptance for ANX-530:

ADVENTRX Receives Brand Name Acceptance for ANX-530:

SAN DIEGO, March 12 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced that the U.S. Food and Drug Administration (FDA) has accepted the proposed proprietary name "Exelbine™" for the Company's product candidate ANX-530 (vinorelbine injectable emulsion).

"We are pleased with the FDA's response to our proprietary name request and look forward to continued regulatory progress on ANX-530," said Brian M. Culley, Chief Executive Officer of ADVENTRX.

Following completion of its review process, the FDA concluded that "Exelbine" is acceptable provided the information presented by ADVENTRX regarding the safety of interchanging ANX-530 with other vinorelbine injectable products is confirmed during review of an ANX-530 New Drug Application (NDA).

As previously announced, the Company submitted an NDA for ANX-530 to the FDA in December 2009. In March 2010, the Company announced that it had received a refusal-to-file letter from the FDA regarding its ANX-530 NDA submission. In the letter, the FDA indicated that the data included in the December 2009 NDA submission from the intended commercial manufacturing site was insufficient to support a commercially-viable expiration dating period. The FDA identified only this one chemistry, manufacturing and controls (CMC) reason for the refusal to file. ADVENTRX has requested a face-to-face meeting with the FDA to understand its requirements and define the path to a successful filing of an ANX-530 NDA at the earliest possible time.

About ADVENTRX Pharmaceuticals:

ADVENTRX Pharmaceuticals is a specialty pharmaceutical company whose product candidates are designed to improve the performance of existing cancer treatments by addressing limitations associated principally with their safety and use. More information can be found on the Company's web site at www.adventrx.com.

http://www.prnewswire.com/news-releases/adventrx-receives-brand-name-acceptance-for-anx-530-87453562.html

ANX closed at $0.21 yesterday, and hit $0.29 in the pre-market session this morning:

ANX - ADVENTRX Pharmaceuticals Receives Refusal to File Letter from FDA on ANX-530 New Drug Application:

ADVENTRX Receives Refuse to File Letter from FDA on ANX-530 New Drug Application:

http://finance.yahoo.com/news/ADVENTRX-Receives-Refuse-to-prnews-815147953.html?x=0&.v=1

Press Release Source: ADVENTRX Pharmaceuticals, Inc.
On Monday March 1, 2010, 1:00 am

SAN DIEGO, March 1 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) announced today that it received a refuse to file letter from the U.S. Food and Drug Administration (FDA) regarding its New Drug Application (NDA) for ANX-530 (vinorelbine injectable emulsion). In the letter, the FDA indicated that the data included in the initial submission from the intended commercial manufacturing site was insufficient to support a commercially-viable expiration dating period. FDA identified only the one chemistry, manufacturing and controls (CMC) reason for the refusal to file. ADVENTRX plans to meet with the FDA as soon as possible to discuss its response.

To support a commercially-viable expiration dating period, the stability data provided in the ANX-530 NDA met ICH filing requirements for a new drug. Site-specific stability data from lots manufactured at the intended commercial manufacturing site also were submitted in the NDA.

"We believed, following discussions with the FDA at a pre-NDA meeting, the stability data package included in our initial submission supported both NDA acceptance and appropriate expiration dating. However, we now expect FDA will require additional site-specific stability data to accept our application. Although we plan to discuss the particular filing requirements with the reviewing chemists, site-specific stability studies are already ongoing and our recent financings provide us the capital to continue this work and, we expect, resubmit the application," said Brian M. Culley, Chief Executive Officer at ADVENTRX.

"We will work closely with the Agency to understand its new requirements and define the path to a successful resubmission at the earliest possible time," Mr. Culley continued.

ADVENTRX submitted the NDA for ANX-530 on December 30, 2009. Based on current regulations, once an NDA is submitted to the FDA, FDA has 60 days to preliminarily review the NDA submission and assess whether the NDA is sufficiently complete to permit a substantive review. If it determines that the NDA is not sufficiently complete, the FDA issues a refuse to file letter to the applicant. ADVENTRX plans to request a meeting with the FDA as soon as possible to discuss its comments on the NDA submission and to reach an understanding on what would be required for the ANX-530 NDA to be accepted for review.

Conference Call and Webcast

ADVENTRX will hold a conference call on Monday, March 1, 2010 beginning at 9:00 a.m. Eastern time to review the developments discussed in this news release. Individuals interested in listening to the conference call may do so by dialing (866) 305-6438 for domestic callers, or (706) 679-7161 for international callers, or from the webcast on the investor relations section of the Company's Web site at www.adventrx.com. A 48-hour telephone replay will be available approximately one hour after the conclusion of the call by dialing (800) 642-1687 for domestic callers, or (706) 645-9291 for international callers, and entering reservation code 60223016. The webcast will be available on the Company's Web site for 14 days following the completion of the call.

This news comes as a complete surprise. It looks like management really dropped the ball on this NDA application, and appears at this point to be totally incompetent. They had meetings with the FDA before submitting the NDA, and should have been aware of exactly what kind of information the FDA wanted them to submit for the application to get approval.

ANX - ADVENTRX Pharmaceuticals Is Expecting FDA News This Week:

ANX submitted a NDA (new drug application) to the FDA during the last week of December 2009, and the FDA has sixty days to give the company it's decision if it will accept the application or issue a RTF Letter (refusal to file letter). That means that the company most likely has already received the FDA's decision, and they have 72 hours after receiving the decision to issue a Press Release about the decision. There should be a PR about this released during the week of March 1st to March 5th 2010.

There has been a lot of talk this weekend if the FDA accepts the NDA for ANX-530 will it be eligible for either Fast Track or Priority Status, which would reduce the number of months until it's PDUFA date. A normal time frame for a PDUFD date to be set is ten months from the date the NDA was submitted. Since the NDA was submitted during the last week of December 2009, the Normal Review PDUFA date would be set for the last week of October 2010. Receiving an accelerated review with either a Fast Track or Priority Review Status would reduce the PDUFA date by a number of months depending on which accelerated status it receives.

In order for a NDA to be classified with an accelerated status the company must request it when they submit the NDA. We have no idea if ANX requested a Fast Track or a Priority Review when they submitted the NDA application.

There are a lot of traders on the many message boards I am a member of, and blogs that I read that think the share price of ANX will skyrocket up once we get the PR that the FDA has accepted the NDA for ANX-530. In all of the years I've been following FDA plays, I've rarely seen a huge move up on just the news that a NDA was accepted.

There may be a nice move up on the day the FDA news is PR'd due to retail buying and maybe a little bit of Short Covering. But as soon as buying volume drys up I have a feeling the Shorts will be adding to their positions again in an attempt to hold this stock down like they've been able to do most of this year.

The only times I've seen a large and sustainable increase in the share price is if the FDA assigns either Fast Track or Priority Status. When that happens, the market really takes notice and the share price soon reflects it.

If the FDA accepts the application that would be very good news for this company because the FDA is not only ruling if the drug ANX-530 is worthy of further review, but more importantly that their proprietary emulsion process also has merit. Every new drug this company has in it's pipeline and plans to submit to the FDA for approval is based on this unique and patentable emulsion technology.

During the past two months, there has been a lot of talk about a buyout, takeover, or partnership of ANX by either GlaxoSmithKline (NYSE-GSK) or Sanofi-Aventis (NYSE-SNY). The reason one or both of these huge drug manufacturing companies would be interested in in taking ANX over is because they both stand to lose a lot of potential market share if ANX's drugs go to market in competition with their existing drugs.

ANX-530 would be in direct competition with GSK's drug Vinorelbine, which has a worldwide annual market estimated at around $200 million. ANX-514 would be in direct competition with SNY's drug Taxotere, which has a worldwide annual market share estimated at around $3 BILLION! Not only would they be removing competition from their existing drugs, but they would also become owners of the proprietary emulsion technology that could be applied to many other existing drugs to make them safer and more effective.

Usually, when a buyout offer is tendered, the offer price is between 300-500% above the current share price. ANX is currently trading at around $0.30 per share so a 300% increase would put the buyout offer at $0.90 and a 500% increase would put the buyout offer at $1.50 The traders that are calling for a buyout offer between $3.00 to $4.00 are dreaming in my opinion.

There are many traders that entered Long positions hoping for buyout to happen, because they have done their research on this company and know it is a definite possibility. If they hold a sizeable position between $0.15 to $0.50 they stand to make a nice profit if a buyout offer is tendered.

I am one of those traders, but I didn't enter my position just because of the possibility of a buyout. I have looked into this company's history, and there has been a lot of good changes made since the previous CEO ran the company. But the bottom line is I think that their technology is fantastic, and it will be able to make many existing drugs much more effective and safer.

Here is a three month/daily chart of ANX. It ran from below $0.10 to $0.52 in the past few months, and it has held half of it's gains which shows a lot of strength and is considered Bullish. Keep this stock on your radar next week, because if the PR comes out saying that the NDA for ANX-530 has been accepted there should be a nice move to the upside. If the FDA assigns an accelerated review process designation, there may be a very large and sustainable move of the share price to the upside. In My Honest Opinion.

Happy Trading,
zigzagman

Stocks to Watch for Feb. 24, 2010 - ANX - ILI - ZLC - CKP - NLS - CDI - CIMT - SOMX

Here are a few stocks to watch on Wednesday February 24th:

AMEX stocks to watch:

ANX - Adventrx Pharmaceuticals, Inc. - Healthcare - Biotechnology



ILI - Interleukin Genetics Inc. - Healthcare - Diagnostic Substances



NYSE stocks to watch:

ZLC - Zale Corporation - Services - Jewelry Stores



CKP - Checkpoint Systems Inc. - Services - Security & Protection Services



NLS - Nautilus Inc. - Consumer Goods - Sporting Goods



CDI - CDI Corp. - Services - Staffing & Outsourcing Services



NASDAQ stocks to watch:

CIMT - Cimatron Ltd. - Technology - Technical & System Software



SOMX - Somaxon Pharmaceuticals, Inc. - Healthcare - Drug Manufacturers



Happy Trading,

zigzagman
Tom

VIDEO: Technical Analysis of ANX - ADVENTRX Pharmaceuticals Daily & Weekly Charts - Feb. 21, 2010:

This is the third weekend I've done the end of the week Fundamental and Technical Analysis of ANX's daily and weekly charts...

We are expecting news in the very near future that will tell us if the FDA has accepted the NDA (new drug application) for their drug candidate ANX-530

Things are about to get VERY interesting with this stock in the next week or two...Stay tuned for recent developments as they happen...

Disclaimer: I hold a lot of shares of ANX, and am VERY Bullish on this company...GLTA

Happy Trading,
zigzagman

VIDEO: Technical Analysis of ANX's Daily & Weekly Charts - Feb. 15, 2010:

We only have to wait two weeks or less before we hear if the NDA for ANX-530 will be accepted by the FDA...That news WILL determine the next move for this stock...Either up or down...Volume should pick up again once this news is released...

This video is viewed best at 480p and full-screen mode...Start the video, click on 480p in the lower right corner, then click the four arrows pointing different direction to go to full-screen mode...Press the Escape key on your keyboard to exit full-screen mode...

Happy Trading,
zigzagman

re: ANX's Presentation at the Bio CEO & Investors Conference:

After watching ANX's presentation a couple of times yesterday, these are my impressions.

First, CEO Culley said that they should hear from the FDA about their decision to accept or deny the NDA for ANX-530 "in the next two weeks or so". This is something we all knew already, because the NDA was submitted in the final days of December 2009. The FDA has 60 days to make it's decision to accept, ask for more data (which means a long delay), or outright reject the NDA.

That gives the FDA until the last week of February or the first week of March to give ANX their decision on the NDA. I've been following small cap and micro cap biotech companies for about two years, and in all that time I've never seen the FDA render a decision early. So the best we can hope for is for the company to get their decision around the first of March, and to release a Press Release soon thereafter.

Yesterday's presentation was nearly a carbon copy of the presentation they made at the OneMedForum conference in San Francisco on December 15th 2009. The slide show was exactly the same, and the CEO's speech was almost identical. There were no new developments mentioned that we weren't already aware of. It was a very good presentation though, and I really like Mr. Culley's enthusiasm and speaking style.

The purpose of these types of conferences is to inform investors of what the company is all about, and to hopefully get them to invest in the company. I hope that Mr. Culley was successful in doing just that.

If you would like to listen to the presentation, here is a link to go to the webcast:

http://ir.adventrx.com/phoenix.zhtml?c=75414&p=irol-IRHome

Here is a post I made last night on the ANX Board at the InvestorsHub.com (IHUB) site:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46474923

It is an analysis of ANX's daily chart using a number of Technical Indicators.

Happy Trading!,
zigzagman

ADVENTRX Pharmaceuticals Inc. Presents At The 12th Annual Bio CEO & Investors Conference Today:

ANX is one of my favorite small cap BioTech stocks at the moment.

It is listed on the AMEX exchange, and is currently trading at around $0.30 per share. It has been a Volume Leader on the AMEX for two months or so. Here is a link to the company's website:

http://www.adventrx.com/

ADVENTRX Pharmaceuticals is a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates primarily for the treatment of cancer. The Company seeks to improve the performance and commercial potential of existing treatments by addressing problems associated with these treatment regimens.

ADVENTRX is presenting at the 12th Annual Biotechnology Industry Organization CEO & Investor Conference. Here is a list of all of the companies presenting at the conference. I have been following many of them for over a year:

http://ceo.bio.org/opencms/ceo/2010/Companies/PresentingCompanies.html

Here is the link to listen to the webcast live at 10:30am ET, or you can listen to it later:

http://ir.adventrx.com/phoenix.zhtml?c=75414&p=irol-IRHome

I don't expect any new news to be presented at this conference, because SEC Regulations require that a press release of any material event must be published to the entire world and not just to the participants of a conference.

But they may surprise us on this, because some types of developments don't require a press release. The best news they could give us today would be to name a target date for submitting a new drug application (NDA) for the second drug in their pipeline ANX-514.

There have also been buy out rumors spread all over the internet about this company over the past two months, but I don't think this has a possibility of happening until after the FDA approves the NDA for their first drug candidate ANX-530. ANX submitted a NDA to the FDA for this drug the last week of December 2009, and the FDA has sixty days to rule if they will accept or decline this NDA or not. We should hear news on this during the last week of February, or during the first week of March.

There are also talks of partnerships with one or more of the big BioTech companies. One of the purposes of a conference like today's is to have private meetings with the CEO's of the presenting companies. News of either a buy out or a partnership would surely be good news for this company, and it should reflect well on their share price.

I will be watching for unusual volume and price action on ANX today and the rest of this week. I will post my thoughts about their presentation later today. ANX is one of the few stocks that I am an "investor" in. I also have another block of shares that I trade in and out with using my day trading account.

Happy Trading,
zigzagman

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