Gold dramatically surged to major new secular highs this past week, fueled by stunning geopolitical news. The US assassinated Iran's top general, so Iran fired ballistic missiles at military bases in Iraq used by the US. That naturally ramped gold bullishness, spawning all kinds of predictions for much-higher prices. But geopolitically-driven gold spikes never last long, and the gold buy...Read More
- Rob KirbyDuring the run-up to year end, the narrative being fed to the population by the Wall St./Fed crowd was that massive liquidity [cash] injections were required in the banking system to ensure there were no "accidents" over the "turn" of the year end calendar to 2020. We've all been treated to some pretty sophisticated technical explanations by Wall Street and Fed mavens about the in...Read More
- Gary TanashianOnce again I have to disclaim that at the moment (and for quite some time now) I hold not one single short position, in anything. I am only long US and global stocks. But also managing cash and portfolio balance as usual while feeling as though I'm playing a game of Musical Chairs while the music still plays (nothing nearly as good as Keith's style, which has always resonated w...Read More
By: Avi GilburtOriginally published on Sat Jan 4 for members of ElliottWaveTrader.net: Back in October and early November, I was preparing our members for the next rally phase I was expecting in the metals complex. And, when the 144-minute MACD on the silver chart signaled a bottom in early December, I noted it was no longer time to look down, but we need to be looking higher in a more s...Read More
By: Ira EpsteinGold needs an impetus in the near-term to get gold back to early week highs:Read More
Traders will either close short positions or go long on the weekend. Iranian risk is there. My initial reaction after the news of Ukrainian airlines crash in Tehran was that of a missile hit. I may be right. USA, Canada and UK are all now saying that Ukrainian airlines was hit an Iranian missile. In my view missile may or may not be Iranian. NATO/USA has started the escalation of war like situat...Read More
We didn’t haveto wait long for Iran’s response. After the missile attack on U.S. bases inIraq, gold briefly soared above $1,600. What should we expect next? Iran Retaliates, Gold RalliesOn Tuesday, I wrote that “given thatSoleimani was widely seen as the second most powerful figure in Iran, we shouldexpect a response.” And, indeed, it arrived before too long. On Wednesday,...Read More
The new year of 2020 has gold is poised to break out higher. Why is gold going higher? Maybe the FED's economists can explain .... or not.Maybe these could be on the list:- FED repo hundreds of billions a day.- ECB made up tools to keep the European banks solvent.- A sugar high stock market with Apple Inc and Microsoft looking like Bitcoin 2017.- The US bond market is NOT confirming a strong stock...Read More
Many people believe the price of Gold will need to fall to support Institutional short positions. We don’t believe this is the case. The Commitment Of Traders (COT) Data suggests Commercial Hedgers have a large and growing shot position that is a very positive sign for a continued rally in Gold and Miners looking forward months from now.Don’t think about COT data like every...Read More
So,did U.S. and Iran just become best friends?Gold’shuge reversal and a decline of about $50 in 24 hours might certainly suggest soto those, who choose to follow the news instead of estimating market’s movesusing more reliable tools.Ofcourse, the two countries are not on friendly terms at this time. So, whathappened that gold declined so much, so fast? Let’s start with going over...Read More
By: Gary SavageWe are still in an intermediate trend higher in gold. These corrections typically last 4 to 9 days in an intermediate trend cycle..https://blog.smartmoneytrackerpremium.com/Read More
The U.S. manufacturing sector contracted for the fifth straight month in December, with the monthly reading from the Institute for Supply Management (ISM) hitting its weakest point in more than 10 years. The purchasing manager's index (PMI) fell to 47.2, a level we haven't seen since June 2009, as global trade tensions continued to take a toll on the country's manufacturers. The news comes as tw...Read More
- Ira EpsteinAlgos do not always win - important to know this. Gold price gap in the chart is now filled, fails after failed Iran/Iraq/US fears subsides -- China, Brexit, Impeachment and much more coming up:Read More
Gold and silver may have formed a short term top yesterday. If tomorrow's US December nonfarm payrolls matches ADP jobs, then gold and silver can see further sell off. Signing of the US-China trade deal and the details released thereof will be closely watched next week. Iran situation will be fragile over the coming weeks and months. There will be phases of escalation of geopolitical situation i...Read More
Wall Street's "fear gauge" on the other hand logged its fourth straight lossThe Dow logged its second-straight triple-digit victory today with U.S.-Iraq tensions apparently in decline. The blue-chip index hit a new intraday record high, with Apple (AAPL) and Goldman Sachs (GS) leading the charge. The S&P 500 and Nasdaq joined the Dow in the black and logged record highs of their own, with a surgin...Read More
The stock is pacing for its worst day in over a yearOptions volume is heavy on Bed Bath & Beyond Inc. (NASDAQ:BBBY) this afternoon, as the stock slumps post-earnings. With BBBY shares last seen down 19.4% at $13.41 -- firmly on the short-sale restricted list -- the bulk of the action has occurred on the put side, with speculative players finding a way to target even more downside for the retail na...Read More
SNAP options volume is running quick todaySnap Inc (NYSE:SNAP) stock is trading up 4.4% this afternoon at $17.40, after Jefferies upgraded the Snapchat parent to "buy" from "hold," and lifted its price target to $21 from $17 -- a nearly 26% premium to last night's close. The brokerage firm expressed optimism over user growth and advertising revenue, saying it expects the latter to double over the...Read More
Infosys is set to report earnings before the open tomorrow Tech name Infosys Ltd (NYSE:INFY) is getting a boost ahead of its upcoming earnings report, due out before the market opens tomorrow, thanks in part to a price-target lift from Wells Fargo. The brokerage upped its target to $10.50 from $8.50. At last check, the shares of the consulting concern were up 2.3% to trade at $10.32. Since a late...Read More
Earnings from Goldman Sachs and JPMorgan Chase will be in the spotlight A flurry of financial names will step into the earnings arena this week, including blue chips Goldman Sachs (GS) and JP Morgan Chase (JPM). Fellow Dow member UnitedHealth (UNH) will also be in the earnings spotlight. There will be plenty of economic data for traders to digest, too. A definite market mover will come on Thursday...Read More
KBH has tacked on 68% over the past 12 monthsHomebuilder KB Home (NYSE:KBH) is seeing a nice lift this afternoon, earlier logging a two-year high of $37.59. The equity has been on a consistent climb higher in the last 12 months, with support at its ascending 80-day moving average pushing the stock to a now 68% year-over-year lead. Looking ahead, the construction name will report fiscal fourth-qua...Read More