Gold futures settled sharply Friday after the U.S. report on November employment came in better-than-expected, with gains last month of 266,000 new jobs, marking the biggest monthly gains since January and reaffirming the health of the domestic economy. Prices for the metal "crumbled" as "hiring in the United States roared back to life in November," said Lukman Otunuga, senior research analyst at...Read More
The Dow made outsized moves in both directions this weekThe first week of December was a wild one on Wall Street, with the Dow making triple-digit moves on four separate occasions. Ahead of the Dec. 15 deadline for the U.S. add tariffs on more Chinese goods, investors reacted to a wide range of trade rhetoric from both sides. Stocks took a hit early in the week after President Donald Trump suggest...Read More
Oil is getting a boost on an OPEC agreementStocks continue to climb after this morning's impressive jobs report, with the Dow Jones Industrial Average (DJI) sporting a more than 300-point lead at the halfway point. Positive China buzz and rising oil prices are only adding to the bullish bias, after Organization of the Petroleum Exporting Countries (OPEC) members agreed on even deeper production c...Read More
CHWY just ran into its 40-day moving average, which has spelled trouble for the stock in the past The shares of online pet supply retailer Chewy Inc (NYSE:CHWY) have been making several attempts to distance themselves from their late-November bottom near the $21 level. Just yesterday, the stock picked up a 6.3% gain on a mixed analyst note from Morgan Stanley, and continues to climb higher today -...Read More
Trade Desk stock has more than doubled in 2019Digital advertising firm Trade Desk Inc (NASDAQ:TTD) is moving higher this morning, following an upgrade to "buy" from "hold" at Needham. The brokerage firm said the company's top line should get a boost as demand for ads rise ahead of next year's U.S. presidential election. From a broader perspective, six of the 13 following analysts held a "buy" or...Read More
All other ATNX analysts are bullishAthenex Inc (NASDAQ:ATNX) yesterday touched its highest point since August, testing the site of a massive bear gap from that time, recently enjoying support from the 10-day moving average. Thursday's price action came as a result of news of a $60 million private stock offering with a group of institutional investors, and the shares are up another 1% today at $16....Read More
Cassava announced promising results for a mid-stage study of its lead Alzheimer's drug The shares of Cassava Sciences Inc (NASDAQ:SAVA) are having another blowout day of trading, already up 24.4% at $2.24, and earlier touched a fresh annual high of $2.31. Now pacing for their highest close in over a year, the stock's surge comes after the drugmaker's lead Alzheimer's treatment, PTI-125, showed eff...Read More
Call traders are targeting weeklies that expire later todayA big earnings winner to close out the week is Ulta Beauty Inc (NASDAQ:ULTA), after the cosmetics retailer reported adjusted third-quarter earnings of $2.25 per share, easily toppling the $2.13 estimates. Revenue and same-store sales met expectations, with the company touting its higher-end cosmetics products. No fewer than five brokera...Read More
China said it will some tariffs on U.S. soybean and pork importsStock futures are pointed confidently higher to end the week, as Wall Street reacts to a blowout jobs report. The Labor Department said the U.S. added 266,000 jobs in November -- handily toppling estimates for 187,000 new positions -- while the unemployment rate dipped to 3.5%. Dow Jones Industrial Average (DJI) futures, which were in...Read More
Christopher Lewis8 hours ago (Dec 05, 2019 4:45 PM GMT)Gold markets initially tried to rally during the trading session on Thursday, but at this point it looks as if the 50 day EMA, and perhaps even more telling the shooting star from the previous session, are offering enough resistance to keep the market in check. Keep in mind that the jobs number comes out on Friday, and that of course makes a h...Read More
Chris Vermeulen18 hours ago (Dec 05, 2019 7:08 AM GMT)We expected Gold to rally above $1750 before the end of this year, but the global trade wars and news cycles stalled the rally in Gold over the past 2 months. Now, it appears Gold is poised for another rally pushing much higher.But wait, if you’re thinking I’m just another one of those traders who is always bullish on gold,...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 346,52555,82093,891203,920526,707644,336676,418 Change from Prior Reporting Period 21,2392,16836912,37229,69233,98032,229 Traders 20552745053280158 Small Speculators LongShortOpen Interest 56,68024,598701,016 -2,232-48131,748 non reportable positionsChang...Read More
Gold has been correcting following last summer's powerful bull-breakout upleg. Since peaking, gold has inexorably drifted lower in a well-defined downtrend. Traders are wondering when this necessary and healthy sentiment-rebalancing selloff will bottom, paving the way for gold's next upleg. But this correction still has a ways to run, according to speculators' gold-futures positioning wh...Read More
Jordan Roy-Byrne CMT, MFTAA few weeks ago we noted the bullish setup for 2020.Macro developments, one way or another will tend to favor Gold. There isn't a realistic scenario that isn't Gold bullish.Note the comments from various Fed-heads last week. They are laying the groundwork to target higher than 2% inflation and won't consider raising rates anytime soon.And if they have to resume cutting...Read More
- Gary SavageGold market update: Signs of a similar H1-2019 pattern? Similar pattern emerging to earlier this year with gold now reversing higher with higher lows and higher highs -- we are starting to stair-step up. Banks going to get stuck in another short squeeze? All the poor saps who sold out at the intermediate bottom..December 5th video update.Gary Savagehttp://blog.smartmoney...Read More
Gary TanashianWe all know that the gold and silver Commitments of Traders are very extended and at levels of commercial net shorts and large spec net longs that tend to be in place at tops in the metals. Well, the metals topped in the summer, so what does that tell us?For one thing it tells us that bull market rules are different from bear market rules as per this post from August as gold was to...Read More
Originally published on Sat Nov 30 for members of ElliottWaveTrader.net: I want to take you back a bit in time so you can develop the appropriate perspective of a bottoming process in the metals market. - Avi GilburtFor those of you that were with us back towards the end of 2015, you may remember that I was being quite vocal of the fact that I was heavily buying mining stocks. In fact,...Read More
After today's US November nonfarm payrolls, traders will take positions for next week's FOMC meet. NFP will give hint on next week's FOMC meet. Look into US economy and global economy in totality and not just from interest rate perspective. UK election and December 15 deadline for US-China trade deal will also be under close scrutiny by traders and investors alike. US president Trump and his imp...Read More
Eric Sprott discusses the latest developments in the gold and silver markets. He also addresses some of the recent merger and acquisition news in the mining sector.Eric Sprott has more than 40 years of experience in the investment industry. In 1981, he founded Sprott Securities (now called Cormark Securities Inc.), which today is one of Canada's largest independently owned securities firms. In 200...Read More
The gold-silver company continues to advance the asset. Megastar Development Corp. (MDV:TSX.V) announced in a news release that its preliminary exploration work revealed characteristics of an "significant epithermal system" at its Magdalena project in central Oaxaca, Mexico. Magdalena sits in the middle of the Oaxaca gold-silver polymetallic epithermal belt in the Sierra Madre del Sur. The compan...Read More