(This article first appeared in April) Barrick Gold founder Peter Munk addresses shareholders at the 2010 annual general meeting.?EUR,Credit: Barrick Gold.It's an extraordinary story about an extraordinary man who became one of the most legendary entrepreneurs in Canadian history.But at its core it is also a love story. It's a tale about Peter Munk's life-long romance with Canada - the country th...Read More
A rare signal just flashed for WorkdayThe shares of Workday Inc (NASDAQ: WDAY) are up 55.6% year-to-date to trade at $158.07, hitting a record high of $172.67 earlier this month. Now, WDAY just came within one standard deviation of its 10-month moving average -- a historically bullish trendline that could be signaling more upside for the software name. According to data from Schaeffer's Senior Q...Read More
Gold is closing out 2018 with a flourish. Prices are poised for the biggest monthly gain in almost two years as concerns about next year's economic outlook, volatility in global equities and a government shutdown in the U.S. spur demand for the metal as a haven.Spot bullion hit a six-month high on Friday, topping $1,280 an ounce, as investors favored defensive assets, adding to holdings in exchang...Read More
U.S. stocks are up with trading volumes mutedThe Dow Jones Industrial Average (DJI) has explored a 316-point trading range on both sides of breakeven today, last seen in the green, as stocks extend the recent run of volatility. Overall, the Dow and its index peers are set to close the week in positive territory -- which would mark the first weekly win in four weeks for U.S. stocks. In the meantime...Read More
Rajendra Jadhav and Karthika Suresh NamboothiriPublished 13 Hours AgoReuters * Higher prices dampen appeal* China premiums ease to $3-$7 an ounce* Spot gold on track for biggest weekly gains in three* Dealers in India offer $2/oz discountMUMBAI/BENGALURU, Dec 28 (Reuters) - Physical gold demand lacked vigor in most Asian hubs this week as limited safe haven interest failed to lift activity into th...Read More
Shorts may wait to cover their winning bets until the new yearIt's been a rough six months for Shutterfly, Inc. (NASDAQ:SFLY), with the shares down 60.6% from their June 5 record peak of $100.34, last seen at $39.91. SFLY stock bottomed near familiar support at $35 during the Christmas Eve sell-off -- a region that's served as a floor since 2014 -- and the equity could be set to spike higher from...Read More
Plenty of AAPL bulls are still lingering on Wall StreetApple Inc. (NASDAQ:AAPL) is slightly lower this morning at $155.57. Since touching a record high of $233.47 on Oct. 3, the shares have shed one-third of their value, bottoming at $146.59 on Christmas Eve. Their 20-day and 50-day moving averages stand up at $166.04 and $187.48, respectively, further illustrating the FAANG stock's recent weaknes...Read More
Getty ImagesThe economy in the Chicago region grew a bit slower in December, but the region is still expanding rapidly. A survey of business conditions in the Chicago area that's often viewed as a signpost for the broader U.S. economy showed strong, if slightly softer, growth in the final month of 2018. The MNI Chicago business barometer slipped to 65.4 points in December from an 11-month high of...Read More
Both the company and its CEO have agreed to pay a fine to settle civil chargesThe shares of Opko Health Inc. (NASDAQ:OPK) are up 28.1% to trade at $3.31, afterthe biotech's Chairman and CEO Philip Frost agreed to a $5.52 million settlement with U.S. Securities and Exchange (SEC) over a civil suit alleging penny stock "pump-and-dump" schemes. Opko Health was also fined.It's been a volatile stretch...Read More
* Higher prices dampen appeal* China premiums ease to $3-$7 an ounce* Spot gold on track for biggest weekly gains in three* Dealers in India offer $2/oz discountMUMBAI/BENGALURU - Physical gold demand lacked vigour in most Asian hubs this week as limited safe haven interest failed to lift activity into the year end, while jewellers in India stepped up purchases, hoping for a further leg to a rally...Read More
There was options-related optimism ready to unwindSubscribers to Schaeffer's Options Advisor service scored a 100% profit with the Western Digital Corp (NASDAQ:WDC) April 47.50 put we recommended. We'll take a closer look at why WDC appeared on our bearish radar, and how the winning options trade unfolded.In the latest December issue of Options Advisor, Western Digital stock had already shed 50%...Read More
The restaurant stock has added nearly 75% in 2018The shares of Wingstop Inc (NASDAQ:WING) are up 2.3% this morning at $62, after Wedbush upgraded the restaurant chain to "outperform" from "neutral" while trimming its price target to $69 from $71. The analyst in coverage waxed bullishly on the company's valuation, and sees room for upside to its 2019 earnings per share and margins. Since early 201...Read More
The Dow is set to snap its three-week losing streakFutures on the Dow Jones Industrial Average (DJI) are trading modestly above fair value following yesterday's sharp reversal on Wall Street. Another win for the Dow today would make it three in a row, with the blue-chip index on track to snap its three-week losing streak. Oil prices are up, too, with February-dated crude futures up 0.8% at $44.97...Read More
Traders don't need to wait until the opening bell to start raking in massive wins.In light of the recent market action, many traders are taking time to reevaluate their portfolios...Analyzing their open positions...And getting ready to make any needed changes to their trading in the weeks and months ahead.However, most traders are under the impression that they have to wait until markets open to...Read More
CloseGain/LossOn WeekGold $1280.00+$5.10+1.95%Silver$15.37+$0.14+5.13%XAU69.68-1.56%+1.47%HUI158.15-1.93%+1.07%GDM579.60-1.28%+1.55%JSE Gold1367.91+0.51+3.88%USD96.38-0.15-0.67%Euro114.47+0.09+0.74%Yen90.84+0.69+0.91%Oil$45.33+$0.72-0.57%10-Year2.719%-0.058-2.30%Bond145.78125+0.25+0.67%Dow23062.40-0.33%+2.75%Nasdaq6584.52+0.08%+3.97%S&P2485.74-0.12%+2.86% The Metals: Gold...Read More
By David Brady, CFALast week, I discussed the Bull and Bear cases for Gold. The stock market sell-off that began on October 3, the associated fall in bond yields, increasing expectations that the Fed would be forced to reverse policy, recent weakness in the dollar, and Gold rising in yuan terms have all contributed to Gold's rally since September 28th. The rise in XAU/CNY, in particular, has fin...Read More
By Gary TanashianIn January of 2018 we noted a cyclical leader (Semiconductor Fab Equipment) in trouble: Semi Canary Still Chirping, But He's Gonna Croak in 2018. We also ran a series of articles featuring the happy-go-lucky 3 Amigos (of the macro) in order to gauge a point when larger herds of investors would become aware of cyclical issues facing the global (including the US) economy. Each Ami...Read More
During the shutdown of the federal government, the Commitments of Traders report will not be published. When the federal government operations return to normal, CFTC will resume publication of the Commitments of Traders report.Read More
By David HaggithPresident Trump wants to blame the Fed Jerome Powell in particular for the stock market's nasty action this fall. If things keep going this badly, you can be sure the Fed chief will want to blame Trump and his treasurer Munchkin for recent tweets that killed Santa Claus and for trade wars and wall wars. Who is right? Who is really killing the stock market?In this round of Tru...Read More
Stock markets are forever cyclical, an endless series of alternating bulls and bears. And after one of the greatest bulls in US history, odds are a young bear is now gathering steam. It is being fueled by record Fed tightening, bubble valuations, trade wars, and mounting political turmoil. Bears are dangerous events driving catastrophic losses for buy-and-hold investors. Different strate...Read More