The $20 level is a key pivot point for GDXHistorically, gold and mining names have been considered safe havens for market participants, but the recent waterfall selloff in equities took no prisoners. While gold remains near positive territory for 2020, miners weren't spared, shedding about 16% of their value so far this year. Despite rallying over $9 off the lows seen on Monday, VanEck Vectors Go...Read More
DAL options traders are targeting puts at a rapid rateNear the bottom of the New York Stock Exchange (NYSE) today are the shares of Delta Air Lines, Inc (NYSE:DAL), down 24.1% to trade at $24.10 at last check. The airline stock continues to struggle amid the spreading coronavirus and travel fears associated with the pandemic. Delta recently announced its bookings have fallen by more than 30% while...Read More
Another "limit down" was triggered this morning Amid uncertainty surrounding a fiscal response and the need for bailouts, the Dow Jones Industrial Average (DJI) is continuing to lose ground, down over 1,300 points at its session lows. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are both deep in the red too -- triggering another "limit down" trading halt before the bell -- amid the r...Read More
The automaker said it hopes to resume production on some of its higher profiting vehicles by early next monthWhile many companies are shutting their doors in response to the rapid spread of the coronavirus, Ford Motor Company (NYSE:F) said it plans on restarting production on some of its more profitable vehicles, such as its F-150 full-sized pickup, as early as April 6. The automaker also said it...Read More
BTIG raised DNKN from "neutral" to "buy" In an effort to protect its customers from the ongoing spread of COVID-19, Dunkin' Brands Group Inc (NASDAQ:DNKN) restaurants have began limiting their service to drive-thru, carry-out, and delivery only. Though U.S. restaurant stocks are falling between 5% and 30% on the broad-market coronavirus scare, DNKN was raised to "buy" from "neutral" at BTIG this...Read More
Target stock fell after it announced reduced store hours Target Corp (NYSE:TGT) announced it will reduce store hours across the U.S. in response to the coronavirus outbreak. In addition to the reduced hours, the retail giant will reserve the first hour of operation each Wednesday for "vulnerable guests," which primarily consists of older adults and those health concerns. In response, TGT shares ar...Read More
Dow futures are eyeing a steep early morning dropFutures on the Dow Jones Industrial Average (DJI) are headed toward an open deep in the red, with the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) following closely behind. Talks of the varying U.S. stimulus packages to aid the economy during the COVID-19 crisis also has Wall Street on edge, triggering a "limit down" halt in the indexes before...Read More
Taking a look at how stocks and commodities have reacted during past bear markets A couple weeks ago, I wrote about a 10% correction for the S&P 500 Index (SPX). Now we've graduated to a 20% pullback, often referred to as bear market territory. This week, I'll go over prior bear markets to see how this one compares and hopefully it will give us insight into what to expect going forward.From High t...Read More
Jack ChanPosted Mar 17, 2020Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on SELL signal. Short-term signals can last for days and weeks and are more suitable for traders.Speculation continues to pullback from recent high..Speculation on silver should show a much lower number next week.We iden...Read More
Craig HemkeLate last week, after weeks of holding its own and providing some stability through the worsening coronavirus crisis, the price of COMEX Digital Gold was smashed in a manner not seen since April of 2013. Was this just a natural market reaction? Hardly.The past month has seen truly historic moves in the global equity and fixed income markets. The U.S. stock market has fallen sharply, b...Read More
Richard (Rick) Mills, Ahead of the herdStock markets rebounded on Tuesday, after the White House announced further measures to help Americans and companies hurt by the coronavirus pandemic.The Trump Administration is reportedly considering sending checks to Americans so they have cash to spend during the outbreak.The Dow, S&P 500 and the Nasdaq finishing about 6% higher was a welcome respite fro...Read More
Stefan Gleason, Money MetalsThe last few days have been like nothing most of us have ever experienced - or are likely to experience again in our lifetimes.Panic has spread from the streets of Wuhan to the grocery stores of America's heartland, from nursing homes to the Federal Reserve Board, from the stock market to the gold and silver markets.Like other asset classes, the precious metals space...Read More
By: Ira EpsteinGold is trendless, it is looking what to do next. Gold has downside bias with resistances around $1550 and $1615:Read More
Bob Moriarty of 321gold discusses the current situation with physical metals and paper markets. Every time the price of gold and silver go down in a big way, the manipulation/conspiracy crowd come creeping out of their rat holes to start preaching about naked short selling and a disconnect between physical metals and paper markets. As you will see, both issues tend to reveal how little these guys...Read More
On Sunday, the Federal Reserve cut interest rates andrestarted quantitative easing to stimulate economy hit by the pandemic ofCOVID-19. That’s already its second move prior to this Wednesday’s FOMC. Whatdoes it imply for gold? It’s Serious, Really.Winter is not coming. Winter ishere already. The situation does not look too good. Although the epidemic seemson the way out in China...Read More
Craig HemkeLate last week, after weeks of holding its own and providing some stability through the worsening coronavirus crisis, the price of COMEX Digital Gold was smashed in a manner not seen since April of 2013. Was this just a natural market reaction? Hardly.The past month has seen truly historic moves in the global equity and fixed income markets. The U.S. stock market has fallen sharply, b...Read More
Richard (Rick) Mills, Ahead of the herdStock markets rebounded on Tuesday, after the White House announced further measures to help Americans and companies hurt by the coronavirus pandemic.The Trump Administration is reportedly considering sending checks to Americans so they have cash to spend during the outbreak.The Dow, S&P 500 and the Nasdaq finishing about 6% higher was a welcome respite fro...Read More
Stefan Gleason, Money MetalsThe last few days have been like nothing most of us have ever experienced - or are likely to experience again in our lifetimes.Panic has spread from the streets of Wuhan to the grocery stores of America's heartland, from nursing homes to the Federal Reserve Board, from the stock market to the gold and silver markets.Like other asset classes, the precious metals space...Read More
By: Ira EpsteinGold is trendless, it is looking what to do next. Gold has downside bias with resistances around $1550 and $1615:Read More
James Kwantes of Resource Opportunities discusses the investment thesis behind this Discovery Group company operating in "the prolific Abitibi Greenstone Belt." For veteran speculators, the latest hits to junior mining share prices feels like d?j? vu all over again. Sentiment is gloomy and market capitalizations are depressed. But gold, in U.S. dollar terms, is still up more than 25% year-over-ye...Read More