OXY just ran into a historically bearish trendline at its 70-day moving averageThe shares of Occidental Petroleum Corporation (NYSE:OXY) have been burrowing deeper on the charts for the better part of 2019, slamming into a 14-year low of $37.25 earlier this month, and struggling against pressure at the $40 region. This week, along with the broader market, the shares have managed to break north of...Read More
The tech stock is ripe for a short squeeze, tooThe shares of Seagate Technology PLC (NASDAQ:STX) have climbed alongside the broad market this holiday season, culminating in a Dec. 23 annual high of $60.83. What's more, the tech stock remains in close contact with a trendline that offers historically bullish implications, if past is precedent. Specifically, according to Schaeffer's Senior Quantit...Read More
The earnings slate is quiet heading into 2020The end of 2019 and beginning of 2020 will be quiet on both the earnings and economic fronts. While Chinese truck and auto manufacturer Nio (NIO) is scheduled to release its quarterly report on Monday, Dec. 30, the Chicago purchasing managers index (PMI), consumer confidence, and construction spending will also be in focus throughout the holiday-shorten...Read More
Headlines about strong e-commerce sales are keeping bulls at the tableThe S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are grinding to new highs again, and the Dow Jones Industrial Average (DJI) is also higher, as stocks continue to rally into the new year. With the Nasdaq looking for a 10th consecutive record close, traders are monitoring more trade buzz and this morning's jobless claims updat...Read More
Amazon stock has already added 20% in 2019Another record-breaking holiday shopping season has Amazon.com, Inc. (NASDAQ:AMZN) moving higher this morning, now up 1.2% at $1,809.90 at last glance. Not only did more customers try Amazon Prime, but they shopped at record levels, buying billions of items and tens of millions of Amazon devices. In response, Amazon stock touched a one-month high of $1,82...Read More
Spectrum Pharmaceutical's cancer drug failed a mid-stage trialSpectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) is one of the biggest losers early on today, down 55.8% at $3.87, after the company's cancer drug poziotinib failed a mid-stage study, with the shares hitting a three-year bottom of $3.61 already as a result. This move could spark bearish analyst attention for the drugmaker, since all five co...Read More
There's a lot of pessimism around TSLA to be unwoundNo stock has had as a resounding close to 2019 as Tesla Inc (NASDAQ:TSLA). Today looks to be more of the same, with the stock up 0.4% to trade at $427.11 -- and earlier hitting a new record high of $429.99 out of the gate -- after Wedbush hiked its price target by $100 to $370. And if that's not enough, the analyst in coverage predicts the compa...Read More
Argus lifted its price target to $235 from $220Argus just gifted a post-Christmas bull note to Ireland-based IT concern Accenture Plc (NYSE:ACN) this morning, right on the heels of last week's fiscal first-quarter earnings beat and raise. The analyst maintained its "buy" rating, and hiked its price target to $235 from $220 -- an 11% premium to Tuesday night's close. Despite this, the shares of ACN...Read More
The NDX is gunning for its 10th straight record closeDow Jones Industrial Average (DJI) futures are poised for modest gains this morning, with volume still light in the wake of the Christmas holiday. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also on pace for positive opens today, with the latter ready to take a crack at an 10th straight record close. U.S.-China trade tailwinds cont...Read More
Dave KranzlerPrecious metals investors may be getting an unexpected Christmas present this year, beginning with the sudden $25 jump in gold on Tuesday and Wednesday. From what I'm hearing, a shortage of physically deliverable gold is developing in London. In fact, Alasdair Macleod and Egon von Greyerz have both alluded to this development.The action this past week fits the information. Given the...Read More
Stewart Thomson, Graceland Updates 1. Massive upside breakouts are taking place across the precious metals sector. Many mining stocks, especially silver-oriented, are skyrocketing.2. Unfortunately, I believe most investors who are Trump fans have become over-obsessed with the relatively minor but media-promoted gains in the US stock market, and they are missing out.3. Please...Read More
Dear Friend of GATA and Gold:For most of this decade owning gold and gold-related investments has required the patience of Job, and the sector is so obscure that it is hard to be sure of anything. But for months now the unusual developments have been piling up so much that it may be possible to regain some optimism.There are indications of a shortage of metal not just at the New York Commodities...Read More
There is short covering in Asia and more short covering will be there in Europe and USA once traders get over Christmas hang over. If you short in gold and silver and are drunk after the celebration, I am you will be back to normal within a few seconds after seeing price. China is taking measures to spruce its economy. China is taking measures for a trade deal to happen with USA. Europeans are b...Read More
The only thing nearly as enlightening as reading David Collum's epic Year In Review is listening to him and Chris Martenson riff about its highlights.Strap in, grab some eggnog, and listen to this year's recap:We are so close to a financial crisis now that we may be way, way past the fail-safe.We've got all these unfunded liabilities that we have to pay or face the consequences of - and they are f...Read More
Known primarily by his nickname "Turd Ferguson," Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast, covering precious metals, the financial markets, and greater economic trends.Read More
"CBC TV in Canada has cut Donald Trump's Home Alone 2 cameo out of their broadcast," tweeted Ryan Fournier. "They're so triggered by him that they had to edit him out of the film. Absolutely pathetic."Continue...Read More
Macron of France is pushing hard to Federalize Europe because he knows full well that France cannot maintain the level of social benefits and still keep its spending in line with the European treaty.Continue...Read More
You've got to hand it to these people- Congress really knows how to bring out the holiday cheer. They have some sort of pathological need to pass the most absurd legislation at Continue...Read More
The S&P 500 has risen more than 50% since Trump was elected, which is over double the 23% average market return of presidents three years into their term.Continue...Read More