What’s In Play NowIt has been about 2 months since the gold stock sector, as represented by the HUI index, topped out. The ensuing correction has been a whipsaw affair of ups and downs, but smoothing that volatility out we find an ongoing correction in time and price that has not been too difficult to manage.The pattern that some would call a “complex H&S” (TA-speak for a fre...Read More
Another round of global monetary easing has just begun! More than 30 central banks around the world have cut interest rates this year so far. The Fed and the ECB are certainly among them. Should gold investors look forward to these policies playing out? Let’s find out how gold tends to behave during such an extraordinary period! Ladies and Gentlemen! Another round of global monetary easing h...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 319,37066,34357,254167,700455,975544,324579,572 Change from Prior Reporting Period -15,0137,5233,953-55-22,722-11,115-11,246 Traders 19782875451278195 Small Speculators LongShortOpen Interest 63,06327,815607,387 1,5451,676-9,570 non report...Read More
Metals investors are positioning themselves for rapidly developing political and geopolitical events, as well as a rapidly expanding Federal Reserve balance sheet. What started out as a limited intervention to provide temporary liquidity to overnight lending markets has morphed into a massive $60-billion-per-month Treasury-buying campaign. By some measures, it's even bigger than the last Quant...Read More
By: Ira EpsteinGold trend turns up if it gets above $1,503. 18 day moving average also at $1,503 area, important resistance area to get above for the gold markets to turn into a more bullish bias:Read More
By: Rick Ackerman, Rick's PicksI like gold here, but I'd like it even more a somewhat lower levels. How much lower? Here are two charts to judge, including one in GLD for those of you who don't trade futures.www.RickAckerman.comRead More
Netflix stock reversed course, dragging down the tech sector Stocks suffered a steep slump today, with tech stocks among the top laggards as Netflix (NFLX) reversed yesterday's post-earnings pop. Meanwhile, the Dow ended the week on a 255-point dip, dragged lower by the latest Boeing scandal. The 737 Max parent wasn't the only blue chip receiving backlash today, though; an asbestos recall for its...Read More
The broader stock market is much lower this afternoon, thoughThe U.S. stock market is trading lower today on disappointing economic data out of China, though all three major indexes are headed toward weekly wins. Among individual stocks making notable moves today are skin disease specialists Dermira Inc (NASDAQ:DERM) and Menlo Therapeutics Inc (NASDAQ:MNLO). Here's a quick roundup of what's moving...Read More
Gold futures settled lower on Friday, failing to get a lift from a round of weak economic data out of China or a softer U.S. dollar as bears looked for the precious metal to continue its retreat from more-than-six-year highs set last month. "Gold is finding comfort within a $20 trading range as investors remain cautiously optimistic over the United States and China finalizing a 'phase one' trade a...Read More
The firm is set to release its third-quarter results before the open on MondayThe shares of oilfield services name Halliburton Company (NYSE:HAL) are getting a halo lift on Schlumberger's (SLB) third-quarter earnings and revenue beat -- out earlier today. The stock has added 1.6% to trade at $18.81 so far today -- eyeing its highest close this week. HAL will soon be joining it's sector peer in t...Read More
Dow earnings are expected to come in droves again next weekThe start to a fresh earnings season was at the forefront of headlines this week. The Dow Jones Industrial Average (DJI) locked in a 237-point win on Tuesday, surging on the back of early wins by JPMorgan Chase (JPM) and UnitedHealth (UNH). Eyes were also on the U.K., where Prime Minister Boris Johnson said a "great new Brexit deal" was dr...Read More
Put options are flying off the shelves after a Reuters reportThe shares of Boeing Co (NYSE:BA) are getting wrecked today, down 4.3% at $353.34, after Reuters reported that employees may have misled the Federal Aviation Administration (FAA) about a critical 737 MAX safety system. The planes have been grounded since a pair of fatal crashes earlier this year, and sources say the airline issue turned...Read More
Credit Suisse cut the equities to "underperform" and slashed their price targetsCredit Suisse weighed in on the retail sector today, downgrading a trio of stocks to "underperform" from "neutral" amid expectations for a sluggish holiday season. Specifically, the analyst firm cut its ratings on Gap Inc (NYSE:GPS), Victoria's Secret parent L Brands Inc (NYSE:LB), and department store concern Macy's I...Read More
However, the DJI and SPX are heading toward their second straight weekly winsThe Dow Jones Industrial Average (DJI) is off at midday --- and was down triple digits at its session lows -- but is still clinging to what would be its second straight weekly win. Theblue-chip index is shaking off a revenue beat from Coca-Cola (KO), and is instead being dragged down by Johnson & Johnson's (JNJ) baby po...Read More
Guggenheim just upped its price target on Domino's Pizza to $310Domino's Pizza, Inc. (NYSE:DPZ) is inching lower, despite a price-target hike from Guggenheim. The analyst lifted its price estimate to $310 from $280 -- a roughly 21% premium to last night's close -- and named the pizza chain its "best idea" in the restaurant space. The broker added that the stock maintains "superior value" despite t...Read More
STX stock has put in a strong performance in 2019Seagate Technology PLC (NASDAQ:STX) stock rallied hard off its early August lows near $42, eventually topping out at an annual high of $57.20 on Sept. 18. The shares have since consolidated some of these gains, but are trading near a trendline that's had bullish implications in the past -- suggesting a rally to new highs could be on the short-term h...Read More
The FDA found traces of asbestos in the company's baby powder productJohnson & Johnson (NYSE:JNJ) is the worst stock on the Dow this morning -- down 3.4% at $131.61, after the consumer products giant recalled a single lot of Baby Powder in the U.S. after the Food and Drug Administration (FDA) found traces of asbestos in a tested sample. This is the latest in a string of talc-related headaches for...Read More
SFIX has staged an impressive rebound in OctoberDigital styling name Stitch Fix Inc (NASDAQ:SFIX) is on its way higher this morning, fresh off a bull note out of Telsey Advisory Group. The brokerage firm initiated coverage with an "outperform" rating and $29 price target, saying Stitch Fix's retail and tech strength made it an easy pick. In response, SFIX stock is up 1% at $23.64, at last check.S...Read More
Option traders could be betting on a breakout Tandem Diabetes Care Inc (NASDAQ:TNDM) has essentially been moving sideways on the charts since February, trading in a tight range around the $60 level with the $55 region serving as support during a few brief pullbacks. This treading has let the closely watched 200-day moving average catch up to the shares, and it's served as a notable floor in the pa...Read More
KO calls were popular in recent daysNear the top of the Dow today sits The Coca-Cola Co (NYSE:KO), up 1.9% to trade at $54.79. This comes after the beverage giant reported third-quarter adjusted earnings of 56 cents, on revenue of $9.5 billion, the latter of which topped the consensus estimate $9.4 billion. The company also upped its full-year guidance, citing increased demand for zero-sugar sodas...Read More