BLUE has shed 40% over the past 12 monthsGene therapy developer bluebird bio Inc (NASDAQ:BLUE) is down 9% at $80.64 in afternoon trading, sinking after weak fourth-quarter results and news its blood disorder therapy drug Zynteglo application was pushed back to the second-half of the year. Analysts have been far from happy with the news, BMO Capital saying the delay could send approval up to mid-2...Read More
Tesla and Apple are back in the spotlight todayThe S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) both hit record highs by midday, propped up mostly by a recovering tech sector. Specifically, Apple (AAPL) made a rebound after yesterday's steep sell-off, while Tesla (TSLA) climbed even higher on a price-target hike from Piper Sandler. Meanwhile, Apple's rebound is boosting the Dow Jones...Read More
ROKU options can be had for a bargain at the momentStreaming name Roku Inc (NASDAQ:ROKU) had a rough go of it in the earnings confessional earlier this month, shedding 6.3% the day after the report. However, that pullback could have bullish implications if history is any guide, as data from Schaeffer's Senior Quantitative Analyst Rocky White suggests the stock may be flashing a buy signal as it n...Read More
Options traders preferred puts on LCLendingClub Corporation (NYSE:LC) is trading down 8.1% at $12.10, following the company's quarterly earnings release and news it's buying Radius Bank in a cash-and-stock deal valued at $185 million. LC shares have been trending lower over the past year, and the 200-day moving average has acted as stiff resistance over that time. Options traders seem to be in goo...Read More
A rebound in Apple shares could help the major indexes bounce back todayU.S. stock futures are trading above fair value this morning, as the Dow Jones Industrial Average (DJI) looks to snap its three-day losing streak. Traders so far are monitoring the release of the producer price index (PPI) for January, which increased more than expected for the month. Later on, investors will be met with the F...Read More
Piper Sandler hiked its price target on Tesla all the way up to $928 from $729After a brief pullback last week, it seems like the shares of electric automaker Tesla Inc (NASDAQ:TSLA) are on their way back up the charts. In fact, the stock is already up 7% to trade at $918.31 in electronic trading this morning, after Piper Sandler hiked its price target all the way to $928 from $729, predicting the...Read More
Historical data points to an extended rallyAfter an incredible 2019 whereby equities shook off the holiday blues of the year prior and the S&P 500 Index (SPX) gained nearly 30%, you'd be inclined to think that a consolidation of price action would be in the cards, right? Well, as it turned out, a continuation of the rally predicated on super-low interest rates and a healthy fear of missing out hav...Read More
Virigin Galactic stock has been rising rapidlyWe've continued to keep a close eye on sentiment in the markets with stocks trading at all-time highs, and lately it's been hard to ignore the rise of a few "cult" stocks in recent months. Grabbing the most headlines -- and the attention of traders on a number of social media sites -- has been Tesla (TSLA), as the shares have rocketed up the charts to...Read More
Gary Christenson, The Deviant InvestorSince 2009 stocks have risen into a bubble fueled by inexpensive debt, buybacks and QE. Most commodities have not matched the price increases. Palladium is an exception more later.The ratio of the commodity index to the S&P 500 Index sits at a historic low. Commodity prices are relatively low, and the S&P 500 is too high. That ratio will reverse.WHY? The b...Read More
StrengthsThe best performing metal this week was palladium, up 4.91 percent as hedge funds cut their bullish positions to a 17-month low. January's 22 percent slump in China's car sales could dampen demand short-term. Federal Reserve Chairman Jerome Powell testified before Congress this week and commented that "low rates are not really a choice anymore, they are a fact of reality." Powell sugg...Read More
Keith Weiner, Monetary MetalsThe price of gold rose $14 and the price of silver fell $0.07. The gold-silver ratio rose further with this price action.Welcome to our new Gold and Silver Market Report, or "Market Report" for short. We are separating this from the economics essay, which was attached for many years. As they used to say in many toy commercials of yore, "batteries sold separately" or...Read More
- RambusOver the last few weeks or so I've been writing a lot on the critical inflection point the PM complex was showing us. Today's price action is an important step in confirming the potential bullish outcome. There is still more work to be done from a longer term perspective but its one step at a time until total confirmation is attained.Lets start with the daily line combo chart we've bee...Read More
By: Ira EpsteinGold still needs to take out the missile day highs. Gold looking bullish with upside bias..Read More
Gold broke past $1600 after World Health Organization had cautioned there was not yet enough data to know if the epidemic had slowed. World Health Organization (WHO) Director-General said Chinese data "appears to show a decline in new cases" but any apparent trend "must be interpreted very cautiously." Russia said it will suspend entry of many Chinese citizens. Corporate profitability will be af...Read More
Defense Metals summarizes the testing highlights at its BC REE project. In a news release, Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTC; 35D:FSEQB) announced that on hydrometallurgical testing at its Wicheeda property in British Columbia, extraction of rare earth elements (REEs) from a flotation concentrate into a leach solution was high, at about 90%. Treating the leach solution with limestone re...Read More
Gold Standard Ventures' new report estimates a 40% internal rate of return. Gold Standard Ventures Railroad-PinionIn a news release, Gold Standard Ventures Corp. (GSV:TSX.V; GSV:NYSE) announced that its updated South Railroad prefeasibility study (PFS) on its Railroad-Pinion project in Nevada shows improved economics and lower risks than in the initial report. South Railroad comprises the Dark St...Read More
Black Tusk Resources reported that it had completed a data compilation on its South Rim Gold property. Black Tusk Resources Inc. (TUSK:CSE; BTKRF:OTCMKTS; 0NB:FSE) completed compiling and reviewing data on its South Rim gold property in central British Columbia, it announced in a news release."The results from historic work and accompanying database provide strong incentive to continue exploratio...Read More
The staked claims expand the size of Newrange Gold's property there by 50%. Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release it staked another 105 claims at its Pamlico project in Nevada to cover several anomalies recently identified through an induced polarization (IP) and resistivity survey.The anomalies, which the company interprets as sulphide mineralization, warrant dri...Read More
Peter Epstein of Epstein Research profiles a company with a project in the highly prospective Red Lake area as well as properties in Argentina's Lithium Triangle. Last September Portofino Resources Inc. (POR:TSX.V; POT:FSE) announced a binding agreement for the right to acquire a 100% interest in mining claims in the famous Red Lake mining district of Ontario. Portofino joins both majors and juni...Read More
Mike Gleason: It is my privilege now to welcome back David Smith, SeniorAnalyst at The Morgan Report and regular contributorto MoneyMetals.com. David, it's good to talk to you as always and how areyou my friend? David Smith: I'm just fine and it's great to be back, Mike.Mike Gleason: Yeah, well it's been a handful of months since we had youon, and I've got a lot of to...Read More