Santa Claus rally in Gold and Silver Crowns a very good yearIt was a very good year for precious metals. Gold posted a nearly 19% gain and silver rose over 17%. As you can see in the chart below, the move higher began in early summer defying the annual summer doldrums, hit an impasse during autumn, then ended the year with a surprise Santa Claus rally that took it over the $1520 mark....Read More
LONDON, 8 January 2020 - BullionVault's latest customer survey opens a report on the outlook for gold investing from The Daily Telegraph, the UK's best-selling broadsheet newspaper.Noting that gold prices have already risen this New Year, "Four in five gold buyers believe this can continue and investing in the metal will beat stocks," says The Telegraph online, quoting BullionVault."Most predicted...Read More
By: Ira EpsteinGold's move to 7-year highs, what to look for next: resistances and supports:Read More
Focus will now shift to US December private ADP job numbers tomorrow and Friday's US December nonfarm payrolls. Both these numbers should come it at or over 160,000 for gold and silver to see selling pressure. Use sharp dips to invest for Easter in both gold and silver. Trade pact with China and Brexit has already been factored by the markets. Trump has started 2020 with a fragile Middle east an...Read More
It was a choppy session on Wall Street todayThe Dow turned in a triple-digit loss today, as rough outings from Merck (MRK) and Chevron (CVX) overshadowed upbeat U.S. services data. The blue-chip index pared a wider triple-digit deficit, though, amid fewer headlines regarding U.S.-Iran tensions. The S&P 500 and Nasdaq joined the Dow in the red, with the latter giving up last-minute gains despite a...Read More
Best Buy stock looks to be in the position to enjoy short-covering tailwindsElectronics retailer Best Buy Co Inc (NYSE:BBY) saw its stock rise to new highs in mid-December following a positive earnings release in November, rallying past previous record highs in the $85 region. The shares are holding just above this previous peak now, and a shift in sentiment could have them adding to their year-ov...Read More
ETFC's early October bottom coincides with its November 2007 lowsE-Trade Financial Corp's (NASDAQ:ETFC) drop off its Sept. 16 high near $46 can be described as "fast and furious," driven by a negative reaction to a "commissions race" among brokerages. More specifically, ETFC fell 4.8% on Sept. 26 when Interactive Brokers (IBKR) unveiled a commissions-free trading product, and then surrendered 16.4...Read More
ETFC's early October bottom coincides with its November 2007 lowsE-Trade Financial Corp's (NASDAQ:ETFC) drop off its Sept. 16 high near $46 can be described as "fast and furious," driven by a negative reaction to a "commissions race" among brokerages. More specifically, ETFC fell 4.8% on Sept. 26 when Interactive Brokers (IBKR) unveiled a commissions-free trading product, and then surrendered 16.4...Read More
MCHP call buying has been very popular The shares of semiconductor concern Microchip Technology Inc. (NASDAQ:MCHP) are making a strong move higher today, last seen up 6% at $109.93 and earlier tapped an all-time high of $110.80, thanks to the company's bullish sales outlook from last evening. This extends the equity's impressive trend higher in recent months, and call traders continue to pile on t...Read More
Walgreens Boots Alliance reports Q1 earnings after the close tomorrowEarnings season is just around the corner, and the first Dow name up is Walgreens Boots Alliance Inc (NASDAQ:WBA), with the pharmacy name set for its first-quarter report before the open tomorrow, Jan. 8. Ahead of the event, options traders are taking a greater interest in the blue chip.Diving right in, nearly 4,000 calls have c...Read More
Investor attention is still firmly on geopolitical tensions between the U.S. and the Middle EastToday's better-than-expected U.S. services data from the Institute for Supply Management (ISM) has done little to move stocks, as investor focus remains glued to bubbling geopolitical tensions between the U.S. and the Middle East. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are both...Read More
The $30 trendline had acted as resistance over the past yearApache Corporation (NYSE:APA) is one of the best stocks today thanks to what's being described as a "major oil discovery" off the coast of the South American country Suriname. This has the shares of APA rising 16.5% to $29.86, putting them above the 200-day moving average, which had been resistance on multiple occasions over the past year...Read More
There's pessimism among analysts and short sellers to be unwoundThe shares of FireEye Inc (NASDAQ:FEYE) are up 2.5% to trade at $18 this morning, after SunTrust Robinson raised its rating to "buy" from "hold." The analyst in coverage -- while also upping its price target to $22 from $15 -- noted the Middle East tensions will lead to more government and private sector spending on cybersecurity. S...Read More
Pier 1 said it will be closing around half its stores and cutting jobs Homegoods retailer Pier 1 Imports Inc (NYSE:PIR) announced last night that it would be shuttering nearly half its stores and cutting jobs. The firm also issued a warning over its ability to carry on as a going concern, as Amazon (AMZN) and other e-tailers continue to corner the market. Additionally, a Bloomberg report suggested...Read More
Investors are weighing a big drop in the U.S. trade deficitU.S. stock futures are mixed this morning, as the Dow Jones Industrial Average (DJI) will try to again shrug off the lingering tensions around Iran. Outside of this, traders are considering a bigger-than-expected decline in the U.S. trade deficit for November, with more economic data due out shortly after the open. With little else on toda...Read More
Tesla has nearly doubled within the past six monthsElectric car maker Tesla Inc (NASDAQ:TSLA) is back in headlines this morning, fresh off news it has begun production for its Model Y SUV in its new Shanghai factory. Tesla recently announced the delivery of its Model 3 sedans, as well as a 16% price drop on the vehicle after receiving subsidies from China. This morning, TSLA is up 1.3% at $459.07...Read More
AG ThorsonJan 03, 2020 07:38 AM GMTIn my article – Gold Prices Close to A Decisive Break, I described how gold was at a critical juncture. The trend broke higher a few days later and confirmed a cycle breakout. The next advance is underway, and I see significant potential in platinum as prices play catchup.Dollar BreakdownThe US dollar has rolled over and broken vital support. This sho...Read More
By: Ira EpsteinGold's move to 7-year highs, what to look for next: resistances and supports:Read More
Focus will now shift to US December private ADP job numbers tomorrow and Friday's US December nonfarm payrolls. Both these numbers should come it at or over 160,000 for gold and silver to see selling pressure. Use sharp dips to invest for Easter in both gold and silver. Trade pact with China and Brexit has already been factored by the markets. Trump has started 2020 with a fragile Middle east an...Read More
Peter Epstein of Epstein Research profiles this explorer and explains why he believes it could be a take-out target.Strong drill results have confirmed and expanded the Bend Vein target on Scottie Resources Corp.'s (SCOT:TSX.V) 100%-controlled Bow property. During September, the company completed 878 meters of diamond drilling, 2 km NE of the 100%-owned past-producing Scottie Gold Mine located in...Read More