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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

3/7/16

Heck of a rebound in oil the last several weeks up 20% and up 5% today closing in on $40 a barrel. Plenty of diamonds in the oil patch and commodities in general as investors buy in and investors who were short covered their positons. Today's diamond,  EP Energy Corp (EPE) is up a whopping 74% today and up 240% since last week. A sustainable rebound in oil and gas couldn't come soon enough for oil and gas producers like Ep Energy Corp.

Another bad day for Celldex Therapeutics (CLDX). The company that develops and commercializes immunotherapy technologies for the treatment of cancers and difficult-to-treat diseases, dropped 53% today after confirming an independent Data Safety and Monitoring Board recommendation that it discontinue its phase 3 study of cancer vaccine Rintega (used for patients with EGFRvIII-positive glioblastoma, a form of brain tumor). This was Celldex's only phase 3 study in progress at the time -- its nearest chance at putting an actual drug on market and boosting its revenue out of the current $5.5 million-per-year range, and becoming a real business. Oppenheimer downgraded Celldex stock removing his price target from the stock -- leaving investors with no guidance as to how much Celldex might really be worth.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.