GOLD COT REPORTS WERE DELAYED (JAN. 3), DUE TO THE HOLIDAYS: Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 381,62053,695140,611202,925569,416725,156763,722 Change from Prior Reporting Period 17,310-4,96318,589-27925,81635,62039,442 Traders 23351765558312164 Small Speculators LongShortOpen Interest 61,01022,444786,1...Read More
Gold continued to explode higher for a ninth straight winThe Dow finished higher to kick off the week, as Wall Street monitored rising tensions between the U.S. and Iran. The blue-chip index chipped away at a 216-point deficit to break into positive territory, while the S&P 500 and Nasdaq both finished higher amid outsized gains from the tech sector. Elsewhere, Wall Street's "fear gauge," the Cboe...Read More
The homebuilder is coming off a solid 2019Traders will have some earnings releases to consider this week, including results from homebuilder Lennar Corporation (NYSE:LEN). The company is scheduled to report earnings before the open this Wednesday, Jan. 8, and bulls will be hoping for a repeat of last quarter's performance, when the stock gained 3.8% the day after earnings. What's more, the equity...Read More
J.P. Morgan Securities just upgraded Nordstrom to a "neutral" ratingRetail name Nordstrom, Inc. (NYSE:JWN) is getting a boost today, after J.P. Morgan Securities hiked its rating to "neutral" from "underweight," and lifted its price target to $41 from $26 -- falling right in line with JWN's current levels. The analyst cited positive structural changes within the company, adding that any growing pa...Read More
GE is fresh off an annual high this afternoonThe 20 stocks listed in the table below have attracted the highest weekly 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, including General Electric Company (NYSE:GE), which will take a closer look at below, alongside Advance...Read More
There's reason to believe MU can reclaim its annual highs from late 2019Although the shares of Micron Technology, Inc. (NASDAQ:MU) have stumbled out of the gate in the new year, they're still only two weeks removed from a Dec. 23 annual high of $56.11. Investors shouldn't fret much over the MU's slow start to 2020 either, with the chip stock flashing a historically reliable bullish signal. More...Read More
Investors are focused on rising turmoil between the U.S. and Iran The Dow Jones Industrial Average (DJI) is still lower at midday as geopolitical tensions, sparked by the killing of Iranian military commander Qassem Soleimani, remain high. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC), however, are treading near breakeven after paring most of their intraday losses. Elsewhere, February-dated...Read More
CRM options traders could be cheering the price actionSalesforce.com, Inc. (NYSE:CRM) is spiking to new all-time highs today thanks to bullish analyst attention. RBC came in and raised its opinion to "top pick" from "outperform," while boosting its price target to $215 from $200. The brokerage firm wrote that there are a number of ways CRM shares could see "significant" upside in 2020. The stock w...Read More
Long term, AZO has been climbing the chartsShares of car parts retailer AutoZone, Inc. (NYSE:AZO) are down 2.7% at $1,155.79 this morning, after being on the receiving end of a downgrade at Wedbush. The brokerage firm lowered its rating to "neutral" from "outperform" and cut its price target to $1,225 from $1,375, citing AutoZone stock's reach to near peak valuation from its 2019's rise of more...Read More
Craig-Hallum also initiated coverage with a "buy" rating and $20 price targetA big winner this Monday morning is SmileDirectClub Inc (NASDAQ:SDC), up 12.3% to trade at $9.41. That's because the teledentistry name just launched a new line of oral care products, exclusively available at Walmart (WMT) stores. In addition, Craig-Hallum initiated coverage on SDC with a "buy" rating and $20 price targe...Read More
Plug Power won a $172 million contract from an unnamed Fortune 100 company The shares of Plug Power Inc (NASDAQ:PLUG) are soaring today, after the company won a contract from an unnamed Fortune 100 client for hydrogen fuel cell deployments at the "close of 2019." The contract is valued at more than $172 million. The stock is up 10.2% at $3.56 in response. Looking back, Plug Power stock hit a five...Read More
Stocks are set to continue Friday's weaknessDow Jones Industrial Average (DJI) futures are pointing to more losses for stocks, as tensions remain high between the U.S. and Iran. This would extend the selling from Friday that was sparked by the airstrikes in Baghdad that killed Irarian military commander Qassem Soleimani, with President Donald Trump yesterday threatening sanctions on Iraq should th...Read More
Declining volatility is a plus for bullsThe first two trading days of 2020 did not lack market-moving macro catalysts. The new year and new decade got off to a roaring start, as U.S. equities rallied in response to China's central bank reducing the reserve ratio for commercial banks by 50 basis points. The S&P 500 Index (SPX - 3,234.85) advanced nearly 1% to kick off 2020 on the news, closing at a...Read More
NEWS &VIEWSForecasts, Commentary & Analysis on the Economy and Precious MetalsCelebrating our 46th year in the gold businessJANUARY 2020"The wind now appears to be at gold's back after six years of slogging." - David Hay, Evergreen GavekalSanta Claus rally in gold and silver crowns a very good yearBy: Michael J. Kosares, USA GoldIt was a very good year for precious metals. Gold posted a nearl...Read More
Clive MaundIn this update I am not going to repeat the points made in the last fairly comprehensive update, instead we are going to focus on the importance of the resistance level just above where the price is now, and impact of the killing of the Iranian General and its potential implications for the gold price.On the latest 10-year chart we can see that gold is making a 2nd attack on the key m...Read More
"The best is yet to come."- Frank Sinatra, American singer, actor, producer, 1915-1998 "You are never too old to reinvent yourself."- Steve Harvey, American comedian, businessman, entertainer, b. 1957 "It is never too late to be what you might have been."- George Eliot, (Mary Ann Evens), English novelist, poet, journalist, translator, a leading writer...Read More
By: Ira EpsteinGold weekly swingline in bullish posture. Upside bias. $1491 area 18-week moving average at end of last week, support. Weekly gold chart over Bollinger band:Read More
Crisis DelayedCircling the DrainTax and SpendGet ReadyWriting, SIC Planning, and More WritingWelcome to the 2020s. Some weren't sure we would make it this far, but we did. Now we face a new decade and new challenges. How we handle them will determine what kind of conversation we have in 2030.This concern for the future is one of the things that separates humans from animals. Dogs don't worry abo...Read More
NEWS &VIEWSForecasts, Commentary & Analysis on the Economy and Precious MetalsCelebrating our 46th year in the gold businessJANUARY 2020"The wind now appears to be at gold's back after six years of slogging." - David Hay, Evergreen GavekalSanta Claus rally in gold and silver crowns a very good yearBy: Michael J. Kosares, USA GoldIt was a very good year for precious metals. Gold posted a nearl...Read More
Clive MaundIn this update I am not going to repeat the points made in the last fairly comprehensive update, instead we are going to focus on the importance of the resistance level just above where the price is now, and impact of the killing of the Iranian General and its potential implications for the gold price.On the latest 10-year chart we can see that gold is making a 2nd attack on the key m...Read More