The Nasdaq is on track for its fifth straight weekly winThe Dow Jones Industrial Average (DJI) looks ready to close out the week on a high note, up 240 points at midday. A blowout October jobs report is powering the upside, as payrolls easily beat estimates even amid a General Motors (GM) auto strike. The blue-chip index is also enjoying tailwinds from upbeat quarterly reports from energy giants...Read More
SYY stocks looks attractive from a contrarian perspectiveSysco Corporation (NYSE:SYY) shares earlier hit an all-time high of $80.99, and were last seen up 0.9% at $80.58, as the food distributor prepares to report earnings before the open on Monday, Nov. 4. SYY stock has added 28.6% year-to-date, and recent earnings history points to more upside for the security. That is, the stock has closed high...Read More
Novo Nordisk's Ozempic diabetes drug reached blockbuster status in the U.S. Pharma stock Novo Nordisk (NYSE:NVO) is trading higher after the firm lifted its full-year sales outlook, and announced its Ozempic diabetes drug reached blockbuster status in the U.S. during its first nine months on the market, generating $1.03 billion in sales -- beating analysts' expectations. Some of these gains, howev...Read More
ANET is headed for its biggest one-day drop everArista Networks Inc (NASDAQ:ANET) unveiled third-quarter adjusted profit of $2.69 per share on $654.4 million in revenue -- more than analysts were expecting. However, the cloud infrastructure specialist said it expects current-quarter revenue to arrive between $540 million and $560 million, less than anticipated, with CEO Jayshree Ullal citing "a su...Read More
Overhead pressure has been seen at the 20- and 30-day moving averagesAlthough the social media name reported third-quarter earnings that were above analyst estimates, a lower-than-expected quarterly revenue and a narrower-than-anticipated revised full-year sales forecast has Pinterest Inc (NYSE:PINS) deep in the red this morning. Last seen down 21.7% at $19.69, PINS opened at a fresh record low o...Read More
Call options have been popular on IMAXImax Corp (NYSE:IMAX) just received an upgrade to "buy" from "hold" from Canaccord Genuity, which set a $25 price target on the stock. In its note, the brokerage firm called out the company's performance in China, and said several key titles on the 2020 movie slate were shot with IMAX cameras. The bullish recommendation puts Canaccord in line with its analyst...Read More
AIG is lower today after an earnings missInsurance stock American International Group Inc (NYSE:AIG) is down 0.8% today to trade at $52.69, after the company reported adjusted third-quarter earnings of 56 cents per share, lower than the $1 consensus estimate. AIG cited weaknesses in its life and retirement business as reasons for the dismal report. Losses today are held in check by a revenue beat...Read More
Stocks are set to benefit from this morning's nonfarm payrolls reportDow Jones Industrial Average (DJI) futures are on the rise today thanks to the impressive jobs report for October. Specifically, nonfarm payrolls for the month increased by 128,000, blowing past estimates of 75,000. Traders are also considering another round of corporate earnings, headlined by Dow components Exxon Mobil (XOM) and...Read More
Experts like Surendra Mehta of the India Bullion and Jewellers Association (IBJA) had but a few days ago painted a picture of doom and gloom, forecasting gold buying would fall by 50% compared to Diwali 2018.Ajay Kedia, director of Kedia Advisory, said gold buying fell 25% this year, LiveMint reported.According to the Confederation of All India Traders (CAIT), about 6,000 kg of gold was estimated...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
Bob Moriarty ArchivesNov 1, 2019If you are smart enough to remember how to fall off a bicycle, you qualify as wise enough to be buying shares in Calibre Mining. It’s that easy.B2Gold, run byClive Johnson,is a four billion dollar company. They had two gold mines in Nicaragua but have transitioned to mining in Africa and the far east. Johnson is not above trying to maximize value for his share...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 335,42358,90865,405176,997478,213577,825602,526 Change from Prior Reporting Period 12,506-4,877-1,7845,66811,52716,3904,866 Traders 20575755651284182 Small Speculators LongShortOpen Interest 65,61740,916643,442 1,52413,04817,914 non report...Read More
The gold miners' stocks have surged in 2019, blasting higher after gold's first bull-market breakout seen in several years. That powerful summer rally left them really overbought, necessitating a correction to rebalance exuberant sentiment. That grinding consolidation lower has set them up nicely for their winter rally, this sector's seasonally-strongest time of the year. These seasonal...Read More
- Dave Kranzler"By sticking to the new orthodoxy of monetary policy and pretending that we have made the banking system safe, we are sleepwalking towards that crisis." - Mervyn King, former head of the Bank of England in a lecture at the IMF's recent annual meetingThe market levitates higher on phony economic data from the Government, Trump tweets, Fed money printing and hedge fund algorithms c...Read More
Marin KatusaDoug is a legend in the business.Like with most legends, comes the peanut gallery that try to bash what he has accomplished to have their dorky voices heard among the roar of a legend. Ask yourself this, these trolls who bash, what have they accomplished?Doug has travelled to over 100 countries, lost and made more money than most can comprehend. And he's experienced a life most can...Read More
- Avi GilburtOriginally published on Sat Oct 26 for our ElliottWaveTrader members: While we have the minimum waves now in place to consider that the pullback/correction we have been tracking for the last two months has completed, and the market has clearly held the support we have outlined which we expected to hold during this pullback, questions still remain as to whether we can still see an...Read More
Gold has shrugged off the latest blather from the Fed and looks bound for at least 1536. Some Rick's Picks subscriber caught the move, and I'll show you how. T-Bonds have also caught fire and deserve a look.https://www.rickackerman.com/Read More
By: Ira EpsteinMarkets spooked by impeachment, US-China Trade deal news. Gold is up over $15 for the week as of the close Thursday, on the daily chart, gold stuck in sideways short-term, resistance around swingline - DEC: $1520.90Read More
"[China] is rolling out a cryptocurrency, a lot of the details have not been divulged. I can tell you that the cryptocurrency that China's rolling out will be backed by gold. It's a two-pronged announcement. Number one, China's got 20,000 tonnes of gold, number two, we're rolling out a crypto coin backed by gold, and the dollar is toast."Max Keiser is an American broadcaster and film-maker. He hos...Read More
Eric Sprott discusses the news of the week and the impact on precious metal prices. He also fields listener questions regarding a few 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, E...Read More