After watching Crude Oil fall from the $65ppb level to the $58 ppb level (-10.7%) over the past few weeks, we stillbelieve the energy sector is setting up for another great trade for skilledinvestors/traders.We are all keenly aware that Winter is stillhere and that heating oil demands may continue to push certain energy priceshigher. Yet Winter is also a time whenpeople don’t travel as...Read More
Certain precious metals, Gold, Silver, and Platinum, have shown moderate upside price trending over the past 20+ months while Rhodium and Palladium have skyrocketed higher. These more precious metals, Rhodium and Palladium, have many industrial and consumer uses. Rhodium is used in electronics and plating and Palladium is used in a variety of consumer products from Automobiles to Medic...Read More
Precious metals got off to an explosive early start to 2020 astensions between the U.S. and Iran drove safe-haven buying. Of course, gold and silver markets will need more than ageopolitical flare up to drive a long-term bull market advance.The question for investors is whether the fundamental picturenow looks promising or fleeting.In our view, the fundamentals are turning in favor ofhigher g...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 376,80957,574137,119221,358571,177735,286765,870 Change from Prior Reporting Period -6,671-3,615-2,24418,90612,6449,9916,785 Traders 22466835759312181 Small Speculators LongShortOpen Interest 61,59731,013796,883 1,0354,24111,026 non reportable positionsCh...Read More
By: Ira EpsteinGold 18-dma is the $1,540's, $20 from the current price = support. Bias is up, trend is down..Read More
Trump's impeachment progress is the key reason for gold and silver to rise. Impeachment news is the reason for gold price to rise from $1460 to $1520. Thereafter investment interest and speculative longs pushed gold past $1600. Gold prices not falling below $1530 despite some bearish news should be taken as short term positive by bulls. News on US-China trade deal (everything collected from Re...Read More
Jobs and retail data lifted Wall Street todayThe Dow roared to a fourth straight win and new record high today, thanks to upbeat retail sales and jobs data. The blue-chip index's over 200-point win can also be attributed to the details of the newly signed "phase one" trade deal with China, where it was revealed China could purchase nearly $200 billion more in U.S. goods in the coming years. The S&...Read More
The gap between the SPX and its 200-day moving average is unusually wideThe S&P 500 Index (SPX) has rallied over the past few months, and now, relative to its 200-day moving average, it's the highest it's been in about two years. Specifically, it's now 10% above the moving average. The last time it reached this level it did not go well. The S&P 500 peaked on January 26, 2018 at 14% above the movin...Read More
Morgan Stanley downgraded the electric automaker to "underweight" from "equal-weight"Tesla Inc (NASDAQ:TSLA) is getting hit with a bear note from Morgan Stanley just two days after the stock nabbed an all-time high of $547.41. The analyst downgraded the electronic auto manufacturer to "underweight" from "equal-weight" but lifted its price target to $360 from $250 -- still a sizable deficit off las...Read More
Traders at the major exchanges have picked up long calls at a rapid paceData from the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows there's been unusual interest in long ArcelorMittal SA (ADR) (NYSE:MT) call options. The steel concern's 10-day call/put volume ratio comes in at 12.63, a reading that ranks in the bullish 97th annual percenti...Read More
Earnings season will be picking back up this week with several blue chips Despite Monday's market closure in honor of the Martin Luther King Jr. holiday, it's shaping up to be a busy week ahead. For starters, traders can expect quarterly reports from blue chips American Express (AXP), IBM (IBM), Intel (INTC), Johnson & Johnson (JNJ), Procter & Gamble (PG), and Travelers (TRV). FAANG name Netflix...Read More
Cambell Soup just pulled back to a bullish signal on the charts During the past 12 months, packaged food manufacturer Campbell Soup Company (NYSE:CPB) has been on a climb higher. Year-over-year, the stock has added 36%, and it just came off a two-year high of $49.55 in early January. More upside could be in the soup stock's future, though, should history be any indication.Specifically, CPB just pu...Read More
Options have been running hot ahead of the company's earnings reportJoining the busy earnings slate this week is distribution name Fastenal Company (NASDAQ:FAST). The company is scheduled to report earnings before the open tomorrow, Jan. 17. Below we will take a look at how FAST has been faring on the charts, and what the options market is pricing in for post-earnings moves. At last check, the equ...Read More
The Dow hit another fresh high amid well-received weekly jobless claims and December retail salesThe Dow Jones Industrial Average (DJI) has continued its steady rise higher at midday, touching another record high, as Wall Street looked towards promising economic data, namely upbeat retail sales and jobless claims. A post-earnings pop from bank name Morgan Stanley (MS) and a finalized "phase one"...Read More
AOBC has climbed in recent monthsShares of firearm maker American Outdoor Brands Corp (NASDAQ:AOBC) are down 0.4% at $9.54 this morning, the stock buzzing on news that the company's CEO James Debney has been ousted by the board effective immediately, after violating a non-financial company policy. Longer term, the equity has added over 77% from its Oct. 3 low, and is now sporting a 3.2% year-to-d...Read More
iRobot has been trending higher recentlyThe shares of iRobot Corporation (NASDAQ:IRBT) are sporting a 7.7% gain this morning to trade at $57.51, putting them on pace for their best close since October and a second straight finish atop the 100-day moving average after roughly nine months below the trendline. Today's upside is coming thanks to an upgrade to "market perform" from "underperform" at Ra...Read More
The streaming giant just partnered with Ben & Jerry's to create a new flavor of ice creamNetflix Inc (NASDAQ:NFLX) stock is popping today, after the streaming giant announced its partnership with Ben & Jerry's to create a flavor of ice cream called "Netflix & Chill'd," which will feature fudge brownies and pretzel swirls in peanut butter ice cream. The stock is up 1% to trade at $343, at last che...Read More
Stocks are set for fresh records yet againU.S. stock futures are pointing to a big day, set to build off Wednesday's bullish session. The Dow Jones Industrial Average (DJI) is eyeing a more than 200-point pop at the open, and the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are set for strong opens, as well, with all three major indexes again set for record highs. Investors continue to respond t...Read More
By: Ira EpsteinGold 18-dma is the $1,540's, $20 from the current price = support. Bias is up, trend is down..Read More
- Gary Christenson, The Deviant InvestorIt was the best of times, it was the worst of times, it was the age of QE, it was the age of fiscal foolishness, it was the epoch of the Fed Put, it was the epoch of Greater Fool Theory, it was the season of golden light, and it was the season of fiat darkness.My apologies to Charles Dickens. Miles Franklin sponsored this article by Gary Christenson....Read More