Our base scenario for 2020 is that it might be a worse year for gold than 2019 was. However, there are three major upside (and one downside) risks for the gold market, which could materialize in 2020. Today’s article will introduce you to these potential catalysts that could send gold prices higher (or significantly lower) in 2020.We stated earlier that unless something bad happens, 2020 may...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 374,79357,098141,474212,445564,348728,712762,920 Change from Prior Reporting Period -2,016-4764,355-8,913-6,829-6,574-2,950 Traders 23370845859326186 Small Speculators LongShortOpen Interest 65,11730,909793,829 3,520-104-3,054 non reportable positionsChan...Read More
- Gary TanashianI most often use linear scale charts for stocks, markets and indicators for their more absolute views. But in the case below we conjure up a long-term log scale chart showing the Gold/Silver Ratio (GSR) and the S&P 500 (SPX), as it works better in providing a percentage-based relationship between an indicator of market liquidity and inflation when declining and lack of liquid...Read More
Gary SavageI mentioned at the 2:00 mark that we would probably see an attack this morning. We did indeed get a major attack. A full days volume was thrown at gold before the market had even opened. The closer we get to the FOMC meeting the more dangerous these attacks will become. So I'm still waiting for a close above the Sept. high as confirmation the next leg has begun. (orig. published on J...Read More
Ray Dalio of Bridgewater via Quotefancy? + "Cash is trash" and investors should diversify and own gold as part of a diversified portfolio, world's largest hedge fund manager told CNBC (see news below) at Davos? + For the second time in as many weeks, the world's largest hedge fund, Bridgewater and its founder Dalio is encouraging investors to diversify into gold as a hedge? + The billionaire inv...Read More
By: Ira EpsteinGold bias up, a confused swingline. Gold technicals update:Read More
The buy-the-dips mentality has become so entrenched over the last few months that it's hard to imagine what could possibly derail the bull market. Wall Street feigned mild concern for a few hours over the spread of a deadly virus in China, but absent news that Americans are keeling over dead from it in their back yards, we can expect the broad averages to forge ever higher. The uptrend has bee...Read More
All three benchmarks turned in their worst week in monthsThe Dow limped into the weekend nursing a triple-digit point loss -- its fourth straight drop -- as coronavirus panic gripped Wall Street. The blue-chip index fell over 300 points at its session lows after a second coronavirus case was confirmed in the U.S, but pared a portion of these losses by the close. The S&P 500 and Nasdaq both settle...Read More
The Nasdaq is about to snap a six-week win streakStocks, as of this writing, are pacing to close the holiday-shortened week in the red, which would snap a six-week win streak for the Nasdaq Composite (IXIC). The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are themselves set to snap back-to-back weekly win streaks, as traders this week focused on a flurry of earnings releases, more B...Read More
Coronavirus outbreak fears are driving Chinese stocks lowerChinese stocks have taken a hit this week, as coronavirus fears ramp up. Shanghai-based travel firm Trip.com Group Ltd (NASDAQ:TCOM) is one name that's taken a big hit, with the stock down 6.9% today at $31.89, pacing for its fourth straight drop -- its longest losing streak since an eight-day stretch back in November.Against this backdrop...Read More
F5 is expected to report earnings after the close on Monday With earnings just around the corner software developer F5 Networks, Inc. (NASDAQ:FFIV) is gaining some traction today, with a little help from long-term support at the $132 region. The firm is expected to post its fiscal first-quarter earnings after the close on Monday, Jan. 27, and at last check the stock is up 0.9% to trade at $135.20....Read More
The Dow has erased this morning's gains With two cases of the coronavirus in the U.S. now confirmed by the Centers for Disease Control (CDC), stocks are trading back below breakeven at midday. The Dow Jones Industrial Average (DJI) has given up its morning gains and is now sporting modest losses, brushing off earnings wins from both tech name Intel (INTC) and credit card concern American Express...Read More
Put buying has been very popular latelyWhen we last checked in with Under Armour (NYSE:UAA), the stock was reaping the benefits of a bull note. While the athleisure name has done well on the charts since then, it's running head-first into a trendline with bearish implications, if past is present. More specifically, Under Armour stock is trading within one standard deviation of its overhead 160-d...Read More
Credit Suisse is all-in on Square stockSquare Inc (NYSE:SQ) stock is running hot today, after Credit Suisse initiated coverage on the fintech name with an "outperform" rating and an $84 price target -- a 21.3% premium to last night's close. Just last week, Square landed on the brokerage firm's list of companies that could be the "next generation of potential winners" in technology, alongside fello...Read More
FCX gapped lower yesterday after earningsThe shares of Freeport-McMoRan Inc (NYSE:FCX) are down 2.2% to trade at $11.71 this morning after receiving two price-target cuts. J.P. Morgan Securities and Deutsche Bank trimmed their targets to $14 and $13.50, respectively, in response to the copper miner forecasting higher costs in 2020. Yesterday, FCX gapped lower by 2.8% in the wake of its quarterly...Read More
The deal with Apple could generate as much as $15 billion in revenueA announcement that Broadcom Inc (NASDAQ:AVGO) is entering into two separate multi-year agreements, "2020 SOWS," with Apple (AAPL) is giving the shares of the semiconductor concern a boost this morning. These agreements will supply wireless components to the iPhone maker, and could generate as much as $15 billion in revenue for th...Read More
GNRC has been an impressive outperformer on the charts Shares of electrical equipment name Generac Holdings Inc. (NYSE:GNRC) are trading up 4.3% at $107.42 this morning, enjoying a lift on the heels of an upgrade to "outperform" from "perform" and a newly established $125 price target at Oppenheimer. This type of analyst sentiment is a rarity for the stock, with all but two of the eight covering f...Read More
The Dow will try to erase its small weekly deficitIt's another major session for corporate earnings on Wall Street, and well-received results from a number of big names have stocks on pace for a positive open. Dow Jones Industrial Average (DJI) futures are trading almost 100 points above fair value, benefiting from the post-earnings moves from blue chips Intel (INTC) and American Express (AXP). Th...Read More
Disney stock is finding support today at its 80-day trendlineThe impact of the fatal coronavirus is at it again, this time forcing the closure of Walt Disney Co's (NYSE:DIS) Shanghai park, in an attempt to curb the rapid spread of the highly contagious illness. Asia has been slammed by the disease this week, causing a dip in stocks worldwide, though last night markets mostly recovered after-hours...Read More
For Part 1 of this round table, CLICK HEREFor Part 2 of this round table, CLICK HEREDoubleLine's Jeffrey Gundlach hosts the first annual "Round Table Prime" featuring today's Financial Market Thought Leaders who will weigh in on the economy, Central Bank Policy, global yields, stock markets, opportunities and best investment ideas for 2020. Featured Guests include: Jeffrey Gundlach - DoubleLine, S...Read More