This may turn out to be the week options traders have been waiting for. Since this economic crisis began to unfold in early September, the CBOE’s volatility index (the VIX) has soared to record levels. Only recently has the upward pressure begun to wane.

Today, the situation for the VIX is looking quite intriguing. The highly watched index found the momentum to drop below its 50-day moving average. The VIX is currently indicated at 58.93, just below the moving average’s level slightly above the 60 level.

This is only the second time since the end of August the index has traded below its 50-day average. The last time was in late November and the trend lasted for just a few trading sessions. If today’s drop below the resistance level stands up, it will be an indicator of positive action to come.

What does it mean?

As a derivative indicator, the VIX is simply a

America’s credit-based consumer economy is dead, says James Howard Kunstler. The government and its zombie banks are trying to preserve the status quo. But activities based on getting something-for-nothing will soon be replaced by those producing the things we need to survive. And in this economy, there will be enough work for everyone…

This from Whiskey & Gunpowder:

Though Citicorp (NYSE:C) is deemed too big to fail, it’s hardly reassuring to know that it’s been allowed to sink its fangs into the Mother Zombie that the U.S. Treasury has become and sucked out a multi-billion dollar dose of embalming fluid so it can go on pretending to be a bank for a while longer.

I employ this somewhat clunky metaphor to point out that the U.S. Government is no more solvent than the financial zombies it is keeping on walking-dead support. And so this serial mummery of weekend bailout schemes is as

A.P. Pharma, Inc. (NASDAQ: APPA) is a specialty pharmaceutical company focused on the development and commercialization of innovative medical treatments utilizing their proprietary polymer-based drug delivery systems.

The company’s proprietary Biochronomer™ technology, featuring bioerodible polymers intended to create controlled-release pharmaceuticals that improve treatments for diseases or health-threatening conditions, is their primary focus as they continue to advance the technology. The company’s lead product candidate is APF530, which is currently in a pivotal Phase III clinical trial for the prevention of acute and delayed onset chemotherapy-induced nausea and vomiting, or CINV.

The company has made significant investments in the development of their bioerodible drug delivery technologies, which have produced tangible results. Specifically, A.P. Pharma has developed a broad family of polymers consisting of unique attributes referred to as poly (ortho esters), under the trade name Biochronomer. This technology has been designed for use in drug delivery applications

A cancer diagnosis is devastating, and oftentimes the treatment following such diagnosis can be just as mentally and physically debilitating. The majority of patients receiving treatment experience some degree of emesis, or nausea and vomiting, associated with chemotherapy. The prevention and control of emesis is very important for the patient, and chemotherapy patients are typically administered an anti-emetic prior to treatment.

Specialty pharmaceutical company A.P. Pharma Inc. (Nasdaq: APPA) today announced positive results from its pivotal phase III study that compares the efficacy of the company’s lead product, APF530, with Aloxi for the prevention of emesis, also known as chemotherapy-induced nausea and vomiting (CINV).

The phase III trial is based on the participation of 1,395 patients, treated at 103 centers in the United States, Poland and India. The patients were classified according to their level of emetogenic chemotherapy to demonstrate the safety and efficacy of APF530.

According to the

Dyax Corp. (Nasdaq: DYAX) focuses on the advancement of novel biotherapeutics, such as those for the treatment of hereditary angiodema (HAE), a rare and potentially life-threatening condition that occurs in about one in every 10,000 to 50,000 people. The condition is associated with swelling in various parts of the body (including hands, feet, face and airway), abdominal pain, and nausea and vomiting.

Dyax today announced the completion of its Biologics License Application (BLA) with the U.S. Food and Drug Administration (FDA) for approval of Dyax’s flagship product, DX-88 (ecallantide), for the treatment of HAE.

“The submission of the DX-88 BLA is a major milestone for Dyax,” Henry E. Blair, chairman, president and CEO of Dyax stated in the press release. “We believe DX-88, a recombinant, subcutaneously administered therapy, has many characteristics that match well with the needs of HAE patients and physicians for a therapeutic option. We look forward to working