* I have meetings at 10:30 a.m., 2:30 p.m. and 3:30 p.m. so I am keeping you up early…
Here are today’s things:
* I sold my $GLD at $386.34
* I added to $GLAS $6.15, $GTBIF $7.14 and $MSOS $4.65.
Positions: MSOS common VL calls M GTBIF S GLAS S
I Asked Claude on Cannabis
To Claude: When has the Drug Enforcement Agency requested a Government Accountability Office report in the past that resulted in rescheduling of a drug?
Researching DEA-requested GAO reports on drug rescheduling.
I’m not aware of any case like that, and the question rests on a premise that doesn’t match how the process works.
GAO doesn’t work for DEA. The Government Accountability Office is a legislative-branch agency that works for Congress. GAO reports are typically requested by congressional committees or members, or mandated by statute, not by executive agencies like DEA.
Rescheduling doesn’t run through GAO. Under the Controlled Substances Act, rescheduling is initiated by DEA, HHS, or a petition. HHS (through FDA and NIDA) then does a scientific and medical evaluation and makes a binding recommendation on the scientific and medical findings. DEA then decides and, if it acts, does so through notice-and-comment rulemaking. GAO has no formal role.
Where GAO has mattered. GAO has published reports touching on DEA’s scheduling and related work, such as drug shortages and the quota system for Schedule I and II substances, DEA’s diversion control, and marijuana research barriers. Those reports fed congressional oversight, but I’m not aware of any that directly triggered a rescheduling. Well-known rescheduling actions, like moving hydrocodone combination products from Schedule III to II in 2014, were driven by the HHS/FDA review process and DEA rulemaking.
If you saw this claim somewhere specific, such as a particular drug or a news article, tell me and I can dig into it. I can also search for GAO reports on DEA scheduling if you want the actual list, since my recollection of specific report titles may be incomplete.
Positions: None.
Source: The Street Pro
Source: The Street Pro
1:30 p.m.: Fed Bank of Richmond President Barkin (Non-Voter) delivers opening remarks at the Federal Reserve Bank of Richmond Investing in Rural America Conference, Asheville, NC (No livestream);
3:25 p.m.: Fed Bank of Richmond President Barkin (Non-Voter) and Federal Reserve Governor Lisa Cook (Voter) give afternoon remarks before the “2026 Investing in Rural America Conference: The Strength of Rural Places” hosted by the Federal Reserve Bank of Richmond in partnership with the Federal Reserve System and Rural LISC (Local Initiatives Support Corporation), Asheville, NC (Other details TBA) https://web.cvent.com/event/0476f20a-ab02-4ae0-83bf65f87e4823a7/websitePage:35859a7c-28ec-4eb5-b8b3-8a1931b9adc3;
5:10 p.m.: Fed Bank of Chicago President Goolsbee (Non-Voter) gives remarks before the “Why Consumers and Economists See Different Economies” event, a collaboration between the Chicago Fed and the research organization NORC at the University of Chicago, Chicago, IL (Embargoed text TBD. Livestream at https://www.chicagofed.org/publications/speeches/2026/sept-30-norc);
6:00 p.m.: Fed Bank of Minneapolis President Kashkari (Voter) participates in fireside chat before the Council on Foreign Relations C. Peter McColough Series on International Economics event, NYC (Audience Q&A expected. No media Q&A. No prepared/embargoed text. Livestream at minneapolisfed.org)
SOURCE: TipRanks
I sold my $GLD long at $386.34 (+$3.50).
Positions: None
– $CNTB +83% (Phase 2 COPD trial met its primary endpoint, reducing treatment failures by 81% and new moderate-to-severe exacerbations by 85%)
– $NAUT +16% (no clear fresh catalyst identified; unusually large, liquid premarket move)
– $CAPR +14% (new deramiocel analyses showed slower upper-limb decline in the HOPE-3 open-label extension and versus natural history)
– $BIYA +13% (first-half results showed new continuing-operations revenue and a narrower net loss)
– $SGMT +9.0% (rises ahead of today’s KOL event on 52-week Phase 3 extension data and the planned US AURORA Phase 3 trial)
– $KALA +5.3% (signs a non-binding agreement to acquire a nationwide telehealth platform for approximately $15M)
– $HPE +4.2% (no clear fresh catalyst identified; unusually large premarket move in a major liquid stock)
– $PYXS -16% (prices a public offering of up to $282.6M, adding substantial dilution and stock supply)
– $SDEV -15% (pulls back after the prior session’s outsized speculative surge)
– $CNXC -8.7% (quarterly profitability topped guidance, but Q4 sales and profit guidance came in light and the FY revenue outlook missed expectations)
Positions: None.
A subscriber – ww33 – asked (in The Comments Section) for a chart on the S&P Oscillator.
Here is a one year chart, from MarketEdge!
I will work on finding a longer term chart, as requested.
Positions: None
I want to pretend I am Sarge this morning!
After last night’s thrilling Yankee win over the hated Red Sox, I have a trivia question…
Who are the all-time leaders in playoffs — pitchers that have struck out at least 10 batters and have allowed no runs?
Position: None
