Gold and silver fell yesterday (from the day's high) after USA opened as traders booked profit on long positions. Traders have started ignoring the corona virus and started focusing on other economic issues and political issues. FOMC meet tomorrow can have surprises in light of Chinese corona virus. Corona virus can have a very big impact on Chinese consumer spending in February. Industrial meta...Read More
"I never buy at the bottom and I always sell too soon." Baron Nathan Rothchild, his success formula. London financier; 1777-1836 "Doubt is the father of invention." Galileo Galilei, Italian astronomer, physicist, engineer; 1564-1642 "Financial markets will find and exploit hidden flaws, particularly untested new innovations and do so at a time that will inflict the most damage to the most peop...Read More
- Hubert MoolmanGold stocks are often cited as recession proof stocks. Although this has not always been true, they do tend to rise when the economy is in a recessions and/or when the general stock market is in decline or showing relatively little gains.Below, is a long-term chart of the Dow:click charts to enlargeI have indicated significant gold stocks rallies with blue rectangles. As you ca...Read More
By: Ira EpsteinGold's short to long-term technicals:Read More
Friday's nasty stock-market reversal was the most interesting we've seen in a long while. The ostensible cause of the selloff was mounting anxiety over the spread of the deadly coronavirus from China to the U.S. and elsewhere. Three cases have been reported so far in the U.S. and 2,000 worldwide, and although no one seems to expect a major outbreak in North America, it's not hard to imagine a me...Read More
Gold and silver will remain firm as long unless a vaccine to the Chinese corona virus is found. Treatment is there for the virus but there is no vaccine. The quicker the spread of the corona virus globally the quicker will gold and silver rise. Yen will also fall sharply if the numbers zoom. Numbers (of people affected by the corona virus) are suppressed or fudged globally to prevent a panic. Sp...Read More
The Dow is in the middle of its worst losing streak since AugustThe Dow was down more than 500 points at its session low, before settling with a 453-point thud, its worst single-session drop since since Oct. 2. It was the blue-chip index's fifth straight decline, marking its longest losing streak since early August, ascoronavirus panic intensified. The S&P 500 and Nasdaq also sold off sharply, the...Read More
Denny's will expand the launch of Beyond Meat's plant-based burger to 1,700 locationsBeyond Meat Inc (NASDAQ:BYND) is bucking the broadmarket trend today with a 7.1% pop to trade at $127.92 after the faux-meat producer announced that Denny's (DENN) would be widening its launch of its plant-based burger to 1,700 locations in the U.S. and Canada, following a well-received trial run in Los Angeles....Read More
The market's "fear gauge" spiked out of the gate this morningWorries of a coronavirus outbreak have sparked panic selling on Wall Street today, with the major stock indexes all staring at intraday losses of 1% or more. This fear is being seen in the Cboe Volatility Index (VIX), too, which earlier spiked to levels not seen since October -- and sounded a signal seen just 10 other times in the last 1...Read More
ISRG is trading below the 80-day MA for the first time in monthsThe shares of Intuitive Surgical, Inc (NASDAQ:ISRG) are trading down 3.5% today at $568.44, extending the sell-off stemming from last Thursday's earnings showing. As of now, ISRG stock is trading below the 80-day moving average for the first time since October, but remains above a trendline that starts at the June low and catches a se...Read More
The stock's 40-day moving average has spelled trouble in the past Streaming concern Roku Inc (NASDAQ:ROKU) has taken a breather recently, off roughly 15% in the past three months after an early December bear gapput the shares back below familiar pressure at the $150 region. Today, the stock is gearing up for its lowest close in almost three months -- down 3.4% to trade at $125.55 at last check --...Read More
TEAM has surged since last week's impressive earnings reportSoftware development firm Atlassian Corporation (NASDAQ:TEAM) is down 1.6% at $144.73 this morning. However, now might be the perfect time to take a risk on TEAM. Not only is the stock up 20% in 2020, fresh off the long-term support of its 180-day moving average and still enjoying the aftermath of a notable earnings beat, but data from S...Read More
LK has shed 23% in the last seven daysThe20 stocks listed in the table below have attracted the highest weekly options volume during the past 10 trading days, with data courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. The stocks highlighted in yellow are new to the list. Below, we're going to take a closer look at Luckin Coffee Inc (NASDAQ:LK) and Walt Disney Co's (NYSE:DIS), as w...Read More
The Dow, S&P and Nasdaq are all eyeing their biggest slides since October The Dow Jones Industrial Average (DJI) is continuing its steep slide today, giving up over 400 points at the midway mark as the quickly spreading coronavirus continues to dominate traders' attention. Should these losses hold, the blue-chip index could be on pace for its biggest one-day drop since early October. The S&P 500...Read More
Susquehanna upped its price target on AMD to $50 from $45 Advanced Micro Devices, Inc. (NASDAQ:AMD) is struggling to capitalize on a bull note from Susquehanna today. The analyst lifted its price target to $50 from $45, just one session after the equity hit an all-time high of $52.81. Despite this AMD is down 4.1% to trade at $48.29 this morning, pacing for its first close below its 20-day moving...Read More
SBUX's 40-day moving average has stepped up as support todayThe shares of Starbucks Corporation (NASDAQ:SBUX) are down 3.9% to trade at $88.38 this morning. The coffee chain joined restaurant stocks Yum China (YUMC) and McDonald's (MCD) in closing its stores in Wuhan, China in fear of the rapidly spreading coronavirus. Even with today's pullback looming, Starbucks stock looks to be hanging on t...Read More
CHWY has struggled on the charts over the past six monthsOnline pet food supplier Chewy Inc (NYSE:CHWY) is pointed lower this morning, last seen down 1% at $28.20 before the bell despite a fresh analyst bull note. Wedbush upgraded the equity to "outperform" from "neutral" and hiked its price target to $35 from $30. The revised price target represents a 23% upside to Friday's close of $28.47, and...Read More
Coronavirus headwinds are set to hammer stocksThe U.S. stock market is pacing for substantial losses this morning as the coronavirus outbreak worsens. With the death toll from the virus rising to more than 80 in China and a fifth confirmed case in the U.S., traders are taking a risk-off approach this morning, sending Dow Jones Industrial Average (DJI) futures more than 400 points below fair value....Read More
January options expiration could also increase the chances for a volatility popA general area that could act as a speed bump on $SPX is 3,335, which is 5 x's '09 low at 666.79. Double the low was a year-long challenge in '11-'12 and there was major sideways movement for months around triple the low in '14-'15- Todd Salamone (@toddsalamone) January 24, 2020While Friday's trading may prove pivotal a...Read More
* Nickel slides to 6-1/2 month low * Copper drops for nine consecutive sessions (Updates with closing prices)By Eric OnstadLONDON, Jan 27 (Reuters) - Copper fell for a ninthconsecutive session on Monday, the longest losing streak in sixyears, as investors worried that a spreading coronavirusoutbreak in China would hit demand in the world's biggest metalsconsumer.Copper tumbled to its weakest in th...Read More