By: Ira EpsteinGold remains under the 18 week moving average, but had a good day yesterday..Read More
Do not think of 2020. Just focus on end January. January is significant for three reasons for financial markets (a) Trump and his impeachment proceedings (b) Chinese New year is around 25th January. Chinese retail demand numbers and Chinese demand for gold and silver will be the key. (c) Brexit and increase or decrease in global mass unrest in India, Hongkong etc. At this point all these factors...Read More
All three indexes notched new record highs Optimism continued to lead the way on Wall Street, after U.S. President Donald Trump tweeted that he had a "very good talk with President Xi of China concerning our giant Trade Deal." Strong consumer spending data for the third quarter likely also gave markets a boost, along with an unrevised reading for third-quarter GDP. The Dow grabbed a 78-point gain,...Read More
RAD stock has roughly doubled this weekRite Aid Corporation (NYSE:RAD) has been on fire, on pace to roughly double in value this week thanks to the company's better-than-expected earnings and outlook from yesterday morning. RAD stock today is up 25.3% at $14.83, on pace to easily tackle the 320-day moving average for the first time since early 2017. RAD stock will now look to sustain this rally de...Read More
The Nasdaq is in the midst of an eight-day winning streakRecords were broken left and right on Wall Street this week. Tailwinds from last Friday's "phase one" China trade deal have kept the ball rolling, with the Dow and S&P 500 nabbing record closes four out of the five days this week alone. Investors mostly shrugged off off the mid-week impeachment hearings for President Donald Trump, and got...Read More
F5 Network is planning on buying Shape Security in a $1 billion cash dealSoftware developer F5 Networks, Inc. (NASDAQ: FFIV) announced earlier today that it plans to buy privately-held security and anti-fraud company Shape Security for approximately $1 billion in cash. As a result, FFIV stock is down 4.1% to trade at $137.81 and hit a two-month low of $132.50 earlier today, with Cowen warning that...Read More
Overall, this has been one of the best weeks in months for stocksIt's more of the same for U.S. stock markets today, as the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) have each hit fresh highs -- while the latter index is staring down an eighth straight win. Semiconductor stocks are again leading the way, extending recent trade-inspired upside. Consumer st...Read More
MRK is surging to record-high territory todayPharmaceutical name Merck & Co., Inc. (NYSE:MRK) is up 1.4% to trade at $91.30 this morning, just off a roughly 20-year high of $92.64 and pennies from the record peak from 2000, on the heels of a drug approval from the Food and Drug Administration (FDA). Specifically, the FDA passed Merck's vaccine Ervebo, a preventative drug for the deadly virus Ebol...Read More
RBC believes GM could be the best auto stock in 2020General Motors Company (NYSE:GM) this morning received a bull note out of RBC that said the automaker could outperform its global peers in 2020 because it doesn't have exposure to Europe, and its new pick-up trucks have now been out for a full year in North America. The brokerage firm added that the company's free cash flow could approach $8 bill...Read More
Nabriva is eyeing its biggest one-day drop since MayThe shares of Nabriva Therapeutics (NASDAQ:NBRV) are sinking even deeper into penny stock territory today -- down 18.6% to trade at $1.40 -- after the company said it has entered into an agreement with undisclosed institutional investors for the purchase and sale of a $20 million registered direct offering. This comes despite the drugmaker resubm...Read More
BIIB options are affordably priced at the momentThe shares of Biogen Inc (NASDAQ:BIIB) are up 0.9% to trade at $300.18 this morning, after the drugmaker announced a $5 billion share repurchase program. This is the second $5 billion stock buyback Biogen has issued in 2019. Also fueling today's price action is a price-target hike from Jefferies $325 from $310, territory not charted since March. De...Read More
AAPL is continuing its impressive climb higherTechnology powerhouse Apple Inc.(NASDAQ:AAPL) is enjoying a modest lift this morning, up 0.3% at $281.02 after receiving a price-target hike to $305 from $290 at Piper Jaffray. The firm's new price sports an 8.9% upside to last night's close of $280.02. From a wider perspective, 19 of 30 covering analysts sport a "buy" or better rating coming into tod...Read More
Quadruple witching will occur later todayWall Street has spent most of the week nabbing record highs, and Dow Jones Industrial Average (DJI) futures are trending that way once more this morning. Investors are shaking off a mixed quarterly report from retail giant Nike (NKE) while considering the final third-quarter gross domestic product (GDP) report, which was unrevised, showing 2.1% growth for...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 344,49358,218114,165202,432521,051661,090693,434 Change from Prior Reporting Period 15,324-3112,756-94215,39427,13828,119 Traders 21062725555290167 Small Speculators LongShortOpen Interest 55,89723,553716,987 -154-1,13526,984 non reportable positionsChang...Read More
The gold miners' stocks have suffered a lackluster few months. That's a disheartening contrast to their powerful summer upleg on gold's bull-market breakout. While this healthy gold-stock correction likely isn't over yet, the gold miners remain very undervalued relative to the metal they produce. That means they still have massive upside left in this secular gold bull. Sentiment just n...Read More
Jordan Roy-Byrne CMT, MFTAIn recent weeks we've noted the positive developments in the gold stocks despite the sector being in a period of correction. Last week we shared the idea that the next impulsive move in gold stocks might begin when the correction in the metals ends. In this article, I'm going to share the one chart which I think will help us time that next move higher. In recent year...Read More
By: Ira EpsteinGold remains under the 18 week moving average, but had a good day yesterday..Read More
Do not think of 2020. Just focus on end January. January is significant for three reasons for financial markets (a) Trump and his impeachment proceedings (b) Chinese New year is around 25th January. Chinese retail demand numbers and Chinese demand for gold and silver will be the key. (c) Brexit and increase or decrease in global mass unrest in India, Hongkong etc. At this point all these factors...Read More
Next year's macroeconomic growth forecast will not be strong, but as long as the Federal Reserve remains accommodative, equities can remain high, this according to best-selling author Jim Rickards."[Some analysts] give recession almost a 0% chance in the next six months, and I agree with that, probably not even more than a 30% chance," Rickards told Kitco News.Jim Rickards is a lawyer, investment...Read More
Eric Sprott discusses the year end price action in the precious metals and answers listener questions regarding some specific mining companies.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 2001, Eric established S...Read More