An excessive amount of optimism was priced into Archer Daniels Midland stockSubscribers to Schaeffer's Weekly Options Countdown just scored an easy profit on the Archer Daniels Midland Co (NYSE:ADM) weekly 10/4 42-strike put. Below, we'll explain why we expected a big downside move for ADM shares, and how the winning trade unfolded.At the time of our initial recommendation this past Sunday, Sept....Read More
RBC said the sector could be attractive to traders looking to play defenseDespite the ugly start to October for most stocks, one sector has stood out recently: real estate investment trusts (REITs). In fact, analysts at RBC recently outlined several reasons to like the sector, and named Annaly Capital Management (NYSE:NLY) as its top pick. Meanwhile, fellow REIT American Tower Corp (NYSE:AMT) stoc...Read More
The S&P and Nasdaq have turned higherIt's been a roller-coaster session on Wall Street, with the Dow Jones Industrial Average (DJI) treading water at midday. The blue-chip index was down over 300 points at its session lows, after the Institute for Supply Management (ISM) non-manufacturing index came in at a lower-than-expected 52.6 for September -- its lowest reading since August 2016. But the D...Read More
Baird sees a new record low ahead for the sharesDrugmaker Audentes Therapeutics Inc (NASDAQ:BOLD) is down 1.4% at $27.32 today, after Baird initiated coverage on the stock with an "underperform" rating. The analyst also slapped BOLD with a $10 price target, which is roughly a 64% discount to last night's close of $27.69, and would represent a new record low for the stock. Generally, analysts have...Read More
TSLA said it delivered 90,000 vehicles in the third quarterAs predicted by Cowen earlier this week, Tesla Inc (NASDAQ:TSLA) said it hit record production of 96,155 vehicles in the third quarter. However, the company also said it delivered 97,000 vehicles in the three-month period -- just below Wall Street's consensus estimate of 97,500 cars, and well below the company's target of 100,000 autos. As...Read More
GOOGL has added 15% since its early June lowsOnline powerhouse Alphabet Inc (NASDAQ:GOOGL) is inching its way higher this morning, fresh off a price-target hike out of Deutsche Bank. The firm raised to $1,600 from $1,475, citing a new layer of confidence toward the company's Google Cloud service. Analysts at Deutsche Bank also said they believe Google Cloud's worth of an estimated $225 billion is...Read More
Shorts may be using FEYE call options to hedgeLast night, Business Insider reported FireEye Inc (NASDAQ:FEYE) hired Goldman Sachs as an advisor for a potential sale. While the report indicated talks were in the early stages, that hasn't stopped FireEye stock from popping this morning, up 2.5% to trade at $14.16. Additionally, SunTrust Robinson weighed in, initiating coverage on the cybersecurity s...Read More
The major exchanges have seen a huge uptick in UTX put buyingUnited Technologies Corporation (NYSE:UTX) is trading up 0.9% in early action at $131.70, thanks to a note from Credit Suisse which started coverage on the stock with an "outperform" rating and $164 price target -- representing almost 26% upside to Wednesday's close. While the shares sport a solid year-to-date lead of 22.5%, they've been...Read More
The company cut its outlook for the second half of the year Camera concern GoPro Inc (NASDAQ:GPRO) is near the bottom of the Nasdaq today, after the firm slashed its earnings-per-share outlook for the second half of its fiscal year to between 33 cents and 39 cents, compared to its previous forecast between 37 to 49 cents. GoPro put the blame on shipment issues and production delays around its newl...Read More
Data from the services sector will be a main highlight todayThe selling in stocks is set to continue on Wall Street this morning, as the focus will remain on the health of the global economy. Futures on the Dow Jones Industrial Average (DJI) are trading below fair value following news the U.S. will impose tariffs on aircraft and agricultural products from the European Union (EU), beginning on Frid...Read More
* Evans says two recent rate cuts are appropriate * Would make further adjustments if needed * Fed will keep focusing on economy despite criticism fromTrump * ECB-Vice President says markets are underpricing hardBrexit (Adds quotes and details from the event in Madrid)By Jes??s Aguado and Jose El?-as Rodr?-guezMADRID, Oct 3 (Reuters) - The outlook for the U.S. economyis "quite good", but...Read More
David BeckerOct 01, 2019 7:11 PM GMTGold Price, Commodities InvestmentGold prices whipsawed, initially moving lower but rebounding sharply during the North American trading session following a weaker than expected ISM manufacturing report. The unexpected reading put downward pressure on US interest rates, which in turn weighed on the US dollar. This paved the way for higher gold prices. The dollar...Read More
Gary Christenson, Deviant InvestorWhat Silence?Have you heard loud warnings from Mainstream Media or from official government sources about the following huge problems? No! Official sources and the media are largely silent. They can't/won't discuss our serious problems and prefer the hopium strategy.Gold and Debt: Asia has accumulated thousands of tons of gold. The U.S. has created over $22 tril...Read More
By: Gary SavageLots of erratic whipsawing of traders..http://blog.smartmoneytrackerpremium.comRead More
By: Avi GilburtOriginally published on Sat Sep 28 for our ElliottWaveTrader members: With the various charts we track unable to complete 5 waves up off the low struck two weeks, it would seem that we can count all of those charts as having just completed a corrective rally top, with more pullback likely to be seen. In fact, this is primarily why I have been stressing that I was treating the l...Read More
By: Ira EpsteinGold back to the 18-day moving average, the line in the sand..Read More
Sellers turned gutless Wednesday night after swinging a wrecking ball for most of the day. Shortly before midnight, index futures were trading moderately higher. Usually, prices move at night only when impelled by news that makes buying or selling over short stretches nearly riskless. It wasn't news that sent the Dow Industrials plummeting nearly a thousand points over the last two days, howev...Read More
"Your app contains content - or facilitates, enables, and encourages an activity - that is not legal ... Specifically, the app allowed users to evade law enforcement."@Apple assume our user are lawbreakers and therefore evading law enforcement, which is clearly not the case.Continue...Read More
Twitter removed a viral meme posted by the President which poked fun at Joe Biden and his son's business dealings in UkraineContinue...Read More
The current low rate environment is creating malinvestment and economic anomalies wherever you look. From 8-9 year auto loans, to distorted real estate markets, it's all over the economic landscape. The cure is coming and it may well be worse than the disease, at first anyway. Transitions to new economic systems are always disruptive and often unpleasant. But change is coming and you can either go...Read More