Following the attacks on key crude oil production facilities in Saudi Arabia, President Donald Trump announced the authorization of the release of oil from the U.S. Strategic Petroleum Reserve (SPR) to keep the market well supplied. This move changes nothing in the way the SPR is governed. The market, not the President, should determine the release of the massive SPR. Government stockpiles are not...Read More
On September 14th, drones targeted Saudi Arabia's Abqaiq oil refinery and Khurais oil field. The strikes reportedly knocked out more than half of Saudi Arabia's total output. That amounts to a whopping 6-7% of the global daily oil supply. Not surprisingly, before the dust had settled, the press sounded an alarm and spread fear. Then, President Trump jumped in, claiming the attack “won't affe...Read More
Adam HamiltonArchivesSep 27, 2019 The gold miners' stocks have largely ground sideways in the last couple months, consolidating their big mid-summer gains. That drift is slowly bleeding away greedy sentiment, but this sector remains really overbought. Gold stocks' dominant driver gold is even more overbought, and still facing a massive gold-futures-selling overhang. This makes October, gold stocks...Read More
One of the downsides to saving large sums of cash is it starts to burn a hole in your pocket.When I was a kid, my grandparents would occasionally give me a $10 bill after I'd go visit for a week. I had zero tolerance for saving back then, so I would spend it on candy and comic books almost immediately.Since then, I've built up a pretty good tolerance against spending cash. I've seen too many finan...Read More
"I don't believe President Trump is informed. I do not believe the people around him would dare inform him with the truth because they would be afraid of what he might do in reaction. So, information is being withheld from the President, and he has a bunch of treasonous dirt bags basically surrounding him. . . . America is not in a good spot right now nor is the world by extension. . . . I don't s...Read More
Lynette Zang has held the position of Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been in the markets on some level since 1964. Her mission is to convert financial noise into understandable language. She has been a banker, a stock broker and studied world currencies since 1987. She believes strongly that we need to be as independent as possible and at the same time, we need to com...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 370,39357,94961,489163,585508,730595,467628,168 Change from Prior Reporting Period 28,882-963-3,89357727,32325,56622,467 Traders 22068775253299174 Small Speculators LongShortOpen Interest 63,47730,776658,944 2,3885,48727,954 non reportable...Read More
The gold miners' stocks have largely ground sideways in the last couple months, consolidating their big mid-summer gains. That drift is slowly bleeding away greedy sentiment, but this sector remains really overbought. Gold stocks' dominant driver gold is even more overbought, and still facing a massive gold-futures-selling overhang. This makes October, gold stocks' weakest month seasonally...Read More
By: Ira EpsteinGold daily chart: sideways market. Should gold get under $1,492, this market could get very ugly, very fast. If it doesn't do that then what?Read More
By: Gary SavageThe Odds Are Very High That the Daily Cycle Has ToppedRead More
We've been monitoring Apple shares closely because they look very likely to rise at least 10% above their current $220 price before bulls are spent. AAPL is a powerful engine for the bull market, and a big rally in the stock would all but ensure that the broad averages get dragged higher or at least remain buoyant. The chart shows another reason why it may be premature to bet against the aging...Read More
Stocks dropped amid reports Trump could delist Chinese firms from U.S. exchangesThe Dow finished the week on a gloomy note, logging a modest loss amid the latest U.S.-China trade drama. The blue-chip index started off in the black, but ultimately turned lower after a Bloomberg News report signaled the Trump administration is considering limiting capital flows to China, including possibly delistin...Read More
There are some reasons to believe the market volatility could continueWhile it's likely an overused phrase, it truly was a wild week on Wall Street, thanks mostly to the inquiry into impeaching President Donald Trump. That wasn't the only market-moving headline out of Washington, D.C., however. Throughout the week traders were met with updates on the U.S.-China trade relationship, and even though...Read More
A Bloomberg report said the U.S. is considering delisting Chinese firms from U.S. stock exchangesStocks have erased early gains on a report from Bloomberg that U.S. President Donald Trump is considering limiting capital flows to China, including potentially delisting Chinese companies from U.S. stock exchanges. This news is rocking Chinese stocks including e-commerce name JD.Com Inc (NASDAQ:JD). S...Read More
Gold prices ended the week with a loss on Friday on the back of overall strength in the U.S. dollar, but held ground above the key $1,500-an-ounce mark as U.S. stocks traded lower following a report that the U.S. is looking to limit U.S. portfolio investments into China. The Trump administration is considering delisting Chinese companies from U.S. stock exchanges as one of the options to limit in...Read More
Citron thinks MCK stock could be cut in halfMcKesson Corporation (NYSE:MCK) stock is trading lower today, after the Texas-based pharmaceutical firm became the target of Citron Research. In a report titled, "The Two Words That Will Wipe Out Half of McKesson's Equity -- 'Public Nuisance'," the short seller called the company "complicit in fueling the opioid crisis," and said recent court documents i...Read More
LTM call volume is running at more than 600 times the normal clipThe shares of LATAM Airlines Group SA (NYSE:LTM) are among the best of the New York Stock Exchange (NYSE) today, after Delta Air Lines (DAL) took a 20% stake in the Latin American carrier for $1.9 billion. As such, LATAM ended its partnership with American Airlines (AAL), and Delta is selling its stake in Brazilian carrier Gol Linhas...Read More
SFIX will report earnings after the close on Tuesday, Oct. 1As earnings season starts to pick up again, online stylist Stitch Fix Inc (NASDAQ:SFIX) will be one of the first companies to step up to the plate, set for its fiscal fourth-quarter report after the close this Tuesday, Oct. 1. Ahead of the event, SFIX is struggling today -- down 1.7% to trade at $18.49 at last check -- after a fresh bea...Read More
Micron's results are weighing on the entire tech sectorThe Dow Jones Industrial Average (DJI) was eyeing a strong close to the week, thanks to confirmation that the U.S. and China are set to meet for trade talks next month. However, the blue-chip index has since pared the bulk of these earlier gains, after a Bloomberg News report suggested the Trump administration is considering limiting capital f...Read More