Call traders have been betting on a FCX breakoutFreeport-McMoRan Inc (NYSE:FCX) has been trying to recover from last month's 52-week low of $8.59, and today the shares are on the rise again. Helping their cause is rising copper prices, along with upbeat attention from Wall Street analysts. Specifically, Jefferies in a note this morning said the mining sector could see a recovery in demand soon, es...Read More
Loop Capital issued a post-earnings downgrade on AVGOBroadcom Inc (NASDAQ:AVGO) stock is moving lower this morning, down 4.6% at $286.62, at last check, as the company's fiscal third-quarter revenue miss offsets an adjusted earnings per share beat. Additionally, amid ongoing U.S.-China trade uncertainty and an overall slowdown in the chip sector, Broadcom CEO Hock Tan said, "There is not much clar...Read More
LUV is heading toward its highest close since MarchThe shares of Southwest Airlines Co (NYSE:LUV) are up 2.2% to trade at $56.17, after Macquarie upgraded the airliner to "outperform" from "neutral." The analyst in coverage touted the company's new revenue management system, which could boost efficiency once the grounding of its Boeing 737 Max fleet ends. Should today's price action hold, Southw...Read More
Wedbush boosted its rating on the Amazon rival to "outperform"Wedbush upgraded Etsy Inc (NASDAQ:ETSY) stock to "outperform" from "neutral," and raised its price target to $66 from $64 -- a 20% premium to last night's close. The brokerage firm waxed optimistic on the online marketplace's pre-holiday season launches of Etsy ads and free shipping could improve gross merchandise sales (GMS) and margin...Read More
Hong Kong and Brexit still black swan risks.Asset class rotation from equities to commodities led by precious metals.Gold and silver in bull markets.Stocks and bonds near peak valuations.The black swan risks of a hard Brexit and a Tiananmen Square type treatment of Hong Kong protesters by the Chinese Communist Party decreased last week resulting in a stock market rally and a pullback in safe haven...Read More
Gold is known as a hedge against inflation; but the world is more worried about deflation at the moment.The World Gold Council says Central Banks bought 374 metric tonnes of gold in 1H 2019. This is supposedly to get away from dependence on the USD.The USD has still been rising. It has been in a strong uptrend since early in 2018. This argues against gold gaining value quickly.Gold is a safe haven...Read More
Castle Creek Pharmaceutical agreed to acquire Fibrocell Science for $63.3 million The shares of Fibrocell Science Inc (NASDAQ:FCSC) are booming on a buyout deal from Castle Creek Pharmaceutical. The privately held company has agreed to acquire Fibrocell Science for about $63.3 million. In response, the penny stock has tacked on 60.1% to trade at $2.93, eyeing its highest close in over a year. On...Read More
Beijing said it would exempt pork and soybeans from additional tariffs Dow Jones Industrial Average (DJI) futures are signaling a higher start, building on the momentum that sent the blue-chip index to its longest winning streak in 16 months yesterday. Upbeat trade headlines continue to drive the positive price action, with China's Commerce Ministry saying earlier it will add pork and soybeans to...Read More
Our Senior Market Strategist Matthew Timpane gives 3 tips for tradersSchaeffer's Senior Market Strategist Matthew Timpane recently sat down with Christopher M. Uhl, CMA, from the How to Trade Stocks and Options podcast. The two discussed some of our favorite topics here at Schaeffer's, and some of the most important things we believe options traders should be considering when looking for potential...Read More
The 2020 election could see some major changes in the American economic system.The U.S. 2020 election will be one unlike America has ever seen, predicts oneanalyst.With both sides growing increasingly divided, it's impossible to know which way the sentiment will shift, and what will happen as a result.But one Stansberry analyst has concerns about what the future holds, and how a radicalized presid...Read More
* ECB says work to accelerate on bankless digital cash * France, Germany say Libra poses risk to EU states'sovereignty * EU has no specific regulation for virtual currencies * In EU's legal limbo, Malta developing its own rules (Adds comment by Libra Association, paragraphs 8-9)By Francesco GuarascioHELSINKI, Sept 13 (Reuters) - France and Germany said onFriday that Facebook Inc's Libra currency p...Read More
Bob Moriarty ArchivesSep 13, 2019Once again the DSI made an accurate call on a major top in gold and silver. The DSI reached nosebleed territory for gold about four weeks ago suggesting the metals were nearing shoal waters. Silver and platinum got stupid a week ago andI suggested a correction would be timely.Investors should remember that when someone writes a recommendation or makes a comment no...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 334,11464,38961,037156,061461,672551,212587,098 Change from Prior Reporting Period -31,271-4495,4298,344-23,786-17,498-18,806 Traders 21067845358296181 Small Speculators LongShortOpen Interest 63,54127,655614,753 -2,107-799-19,605 non repo...Read More
Gold reversed hard last week after blasting higher for a month, leaving traders wondering why and what that portends. The answers are found in gold's dominant short-term driver, speculators' collective trading in gold futures. Their positioning has grown excessively bullish, they are essentially all-in betting on more gold upside. That spawned a massive and ominous gold-futures-selling o...Read More
By: Ira EpsteinGold is fighting to find a bottom. Gold resistance around $1,526 for Dec. Gold...Read More
Stefan GleasonIt's the most widely anticipated recession in history. The recession hasn't arrived yet - and may not do so anytime soon - but the mainstream media still can't stop talking about it.Consider this strange article from NBC News. It purports to show that young adults are posting dark, ironic memes to social media in reaction to a "possible recession looming." It's a possible, undate...Read More
Gary Tanashian, NFTRHI cannot profess to tell others how to effectively manage their accounts because I am a lowly participant who is learning all the time. The truth is that 2019's learning is much different than 2018's learning was, which was different than 2016, 2011, 2008/2009 and other pivotal market phases. So I'd say that the biggest lesson to learn has been the concept of marrying adapta...Read More
HighlightsAndrew Maguire and CEO Thomas Coughlin, return with an update on the PMs rally. Andrew Maguire notes the increasing pressure on the LBMA to insure transparency in the paper gold market. The potential for decoupling of the paper and physical gold market implies increased default risk. Thomas Coughlin discusses the Allocated Bullion Exchange (ABX) a gold / silver bullion platform. A...Read More
Axel Merk of Merk Investments joins Money Metals Exchange for a conversation on the latest central banking shenanigans, why he believes the economy may heat up again in the near term, and why the war on cash and the move to digital money will continue to drive people into gold. *The interview begins at 7:18Axel Merk is the Founder, President, Portfolio Manager, and CIO at Merk Investments LLC. He...Read More
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, Eric established Sprott Asset Management Inc. Over the years, Eric has personally been the recipient of numerous awards and honors, including one of Investor Dig...Read More