Oursummary of the current situation in the precious metals is not going to differmuch from whatwe wrote yesterday, and the reason is simple. The decline in gold,silver, and miners is developing justas we’ve been expecting it to. Most importantly, gold has justconfirmed its breakdown and everything that we reportedon gold’s outlook and price targets just got a huge confirmation.Let&rsqu...Read More
In Part I of this research post, we highlight how the ES and Gold reacted 24+ months prior to the 2007-08 market peak and subsequent collapse in 2008-09. The point we were trying to push out to our followers was that the current US stock market indexes are acting in a very similar formation within a very mature uptrend cycle. We ended Part I with this chart, below, comparing 2006-08 with 201...Read More
The metals market is an extremely emotional one. The highs and lows you see with metals traders are evident at each of the extremes. I think we are now approaching another extreme.Several months ago, back in early June, I notified those willing to listen that gold was preparing to “take off like a rocket-ship.” To my members of ElliottWaveTrader.net, I outlined my expectations for a st...Read More
Gold and silver stocks have held up decently during the correction in precious metals, which is now in its 3rd month. However, as we mentioned last week, the bugaboo has been the relatively high net speculative position in Gold, which has not changed much despite recent weakness in the sector. Technically Gold cracked last week and the downside momentum coupled with the relatively high net spec po...Read More
RambusA line chart can give you a different perspective vs a bar chart which is why I like to use them both to help uncover a potential pattern. Line charts can often times give you a quicker heads when a stock is breaking out.Below is a weekly line chart for GLD which shows you why I'm so concerned about the PM complex right now. As you can see this weekly line chart shows a triple top with the...Read More
By: Ira EpsteinGold wanting to breakdown but the gold market does not have a trend but bias and momentum down. Below the 18-week moving average. $1,440-$1,450 support. $1,485 challenge area..Read More
Although some notable long-term bond bulls are close to throwing in the towel as U.S. Treasury yields continue to climb, the chart suggests the bull market begun nearly 40 years ago still has farther to go. Yields on the long bond settled Friday at 2.41%, up from 1.90% in August, while T-Notes have gone from 1.43% to 1.93% over the same time. The rallies have been impressive if not to say sc...Read More
By: Avi GilburtWhile reading of the title of this article may cause you to make certain assumptions about what you are about to read, I can assure you that this is not a politically motivated article. In fact, politics has absolutely nothing to do with the analysis and conclusions presented herein.I want to start with the assumption that we have spoken about so often, and that it is social moo...Read More
Boeing stock surged midday on 737 MAX newsU.S. stocks spent the first half of the day trading in the red on President Donald Trump's pessimistic comments about a trade deal with China, but the major indexes were able to pare most of these losses by the close. A sudden rally from Boeing (BA) on news the company expects its 737 MAX to return to commercial service in January sparked a major reversal...Read More
CHK lost over 37% last week, following a dismal earnings report The already suffering shares of Chesapeake Energy Corporation (NYSE:CHK) have taken a turn for the worse during the past week, following the firm's dismal third-quarter earnings report and warning note over its ability to continue as a "going concern." The stock lost a whopping 37.5% last week, and is looking at even more downside to...Read More
The auto parts retailer will report earnings tomorrow morningAdvance Auto Parts, Inc. (NYSE:AAP) is slated to report third-quarter earnings before the market opens tomorrow, Nov. 12. Put volume is running fast ahead of the event, with nearly 6,200 contracts traded so far -- 30 times what's typically seen at this point, and more than double the number of calls on the tape.Most active are the Novemb...Read More
Tupperware suspended its quarterly common dividend last weekThe U.S. stock market is struggling to claw its way back into positive territory, as Wall Street digests a slew of trade-related headlines. Among the stocks making notable moves today are blue chip Walgreens Boots Alliance Inc (NASDAQ:WBA), plastic maker Tupperware Brands Corporation (NYSE:TUP), and drug stock Dare Bioscience Inc (NASDAQ...Read More
One trader sold to open a major position on HumanaHumana Inc (NYSE:HUM) shares have been skyrocketing since skimming the $250 level early last month, last seen at $316.70 -- a roughly 27% rise. One options trader is looking to make a quick buck by betting on HUM stock holding these gains through the end of this week, since data from today's trading seems to suggest one speculator sold to open 3,81...Read More
Porter Stansberry is making a concerning prediction.No one believed Porter Stansberry years ago when he said the world's largest mortgage bankers (Fannie Mae and Freddie Mac) would soon go bankrupt.And no one believed him when he said GM would fall apart... or that the same would happen to General Growth Properties (America's biggest mall owner)... or that oil would fall from over $100 per barrel...Read More
There's room for upgrades to the GPS stockTo close out October, GPS concern Garmin Ltd. (NASDAQ:GRMN) gapped higher in the wake of a well-received corporate report. GRMN continued to climb into November, and nabbed a nearly 12-year high of $97.59 earlier today. There's reason to believe the stock still has more room to run too, after flashing this bullish signal. More specifically, GRMN's new hi...Read More
The S&P and Nasdaq are sharply lower at midday, tooStocks are starting the week on a negative note, as Wall Street weighs mixed messages on U.S.-China trade relations coming from President Donald Trump. Following last Friday's reports that he had not agreed to roll back U.S. tariffs on Chinese goods, Trump told reporters over the weekend that the "level of tariff lift is incorrect," and suggested...Read More
The 120-day moving average has had bearish implications for the equity in the past Since posting a third-quarter report that missed analysts' estimates last week, resulting in a three-week low of $9.12, the shares of AMC Entertainment Holdings Inc (NYSE:AMC) have been struggling on the charts. While the stock briefly popped north of its 30-day moving average, the trendline has served as stiff resi...Read More
SPWR has found support at its 320-day trendlineThe shares of SunPower Corporation (NASDAQ:SPWR) are up 10.2% to trade at $9.22 today, after the solar name announced it would split into two separate publicly traded companies. The new company, Maxeon Solar Technologies, will be independent, complementary, and strategically aligned with SunPower, and will rely on a $298 million investment from partn...Read More
BIDU has had a tough year on the chartsMere days off its recent post-earnings pop, Chinese tech name Baidu Inc (NASDAQ:BIDU) has received yet another bull note, this time out of Oppenheimer. The analyst upgraded the stock to "outperform" from "perform," with a price target of $145. Regardless, BIDU is down 1.5% this morning at $122.74, as the broader equities market sells off on U.S.-China trade...Read More
The analyst downgraded the stock to "equal-weight" but upped its price target A bear note from Morgan Stanley has sent the shares of Qualcomm, Inc. (NASDAQ:QCOM) down 3% to trade at $91.15 this morning. Specifically, the analyst dropped its rating to "equal-weight" from "overweight," but raised its price target to by $1 to $90. The brokerage firm said that while a deal between the U.S. and China -...Read More