Apparently, there is no limit. This seems especially true right now with all of the “obvious” signs and indicators staring you in the face. It is almost blasphemous to speak cautiously. Better to let your imagination run wild and join in the revelry.I can’t do that. I don’t choose to be dumped into the same cauldron of boiling fantasy with other analysts and advisors, who t...Read More
Two cities are besieged. One by officials, activists and business leaders, while the second by bloodthirsty politicians. Will anyone escape? No one knows, but the gold coin has always helped bribe the guards to look the other way…Just take a look at how it held value recently: Gold Report from DavosThe 2020 World Economic Forum in Davos, Switzerland, has begun. What has happened there so fa...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
The gold miners' stocks have spent the past half-year mired in a high consolidation. They haven't been able to break out, but aren't breaking down either. This technical purgatory is working to slowly bleed off overboughtness and rebalance sentiment. This necessary process to eradicate greed from the last upleg peak is never exciting. But today's low gold-miner valuations reveal great...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
Apparently, there is no limit. This seems especially true right now with all of the “obvious” signs and indicators staring you in the face. It is almost blasphemous to speak cautiously. Better to let your imagination run wild and join in the revelry.I can’t do that. I don’t choose to be dumped into the same cauldron of boiling fantasy with other analysts and advisors, who t...Read More
Jordan Roy-Byrne CMT, MFTA The precious metals sector remains in a correction, and as long as the 200-day moving averages hold, a bullish consolidation that began last September.Sure, Gold made a new high and is still holding around the previous high, but the rest of the sector has not confirmed that strength. When Gold is outperforming Silver and the gold stocks, it is not a bullish signal for...Read More
- RambusIn part 2 of this Important Inflection Point For the PM Complex, we'll look at some US dollar charts along with a few important currencies of the world. I don't have to tell you that the US dollar can play a very important role in how the PM complex and commodities in general may perform. Even though it's never a perfect correlation important turning points can appear very close to the...Read More
By: Ira EpsteinGold is in a sideways market since missile day. Holding its 18-dma:Read More
Safe haven demand (due to Chinese corona virus) is supporting gold. I expect a rise in Chinese gold demand during the Chinese New year, if the virus is not contained in the next two weeks. Chinese economy will see a short term hit. More and more Chinese will buy gold out of fear. It is the fear of the unknown that will drive more and more people to gold.Chinese authorities are acting quickly. It...Read More
The Dow couldn't quite make it into positive territory, thoughAfter spending most of the day deep in negative territory, the Dow finished only marginally lower. The blue-chip index furiously pared its sharp losses after the World Health Organization (WHO) assuaged coronavirus fears by avoiding a declaration of a global health emergency. The S&P 500 and Nasdaq both fought their way into the black f...Read More
A price-target hike has sparked upside in NFLX shares todayA negative earnings reaction weighed on Netflix Inc (NASDAQ:NFLX) shares Wednesday, but today, the FAANG stock is trading up 4.5% at $340.55. Sparking the bounce is a bull note from Guggenheim, which raised its NFLX price target to $420 from $400. The brokerage firm waxed optimistic on subscriber growth in international markets.NFLX option...Read More
X is fresh off an annual low this morningThe 20 S&P MidCap 400 Index (MID) stocks listed in the table below have attracted the highest 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 GrubHub Inc (NYSE:GRUB) and United Stat...Read More
A long-term bull signal just flashed for IONS, which could point to more upside on the charts Biotech concern Ionis Pharmaceuticals Inc (NASDAQ:IONS) is cooling off, along with the broader market, just one day after the well-received release of its mid-stage study for AKCEA-APOCII-LRx in patients with cardiovascular disease sent the stock soaring, before running out of steam at familiar resistance...Read More
Yum China stock is one name seeing coronavirus effectsThe Dow Jones Industrial Average (DJI) is down sharply today as investors consider the latest batch of corporate earnings. On top of the reports received from blue chips, there's also VF Corp's (VFC) results, which have the retail stock as the worst S&P 500 Index (SPX) member today, while a number of China-exposed stocks are getting hit due to...Read More
Nektar has struggled to gain momentum since its early August sell-offBiopharmaceutical stock Nektar Therapeutics (NASDAQ:NKTR) is down 0.5% this afternoon, last seen at $22.02. NKTR has recently struggled to gain momentum, but earlier this month touched its highest intraday mark since an early August post-earnings sell-off. Today's drop may be short-lived, however, as data from Schaeffer's Senior...Read More