Jordan Roy-Byrne CMT, MFTALast week was another strong one for the precious metals sector. Gold gained a whopping $51/oz or 3.5%. The gold stocks (GDX, GDXJ) advanced by roughly 6%. Silver gained 4%.Momentum in the sector began to build once Gold surpassed resistance at $1420-$1425/oz. We had noted the lack of resistance from $1425 to $1525-$1550/oz. Gold has not reached $1550/oz yet but as it...Read More
Captain EwaveGOLD: Short Term Update Short Term Update: In the overnight session we moved lower early to reach a low of 1499.40, but gold has now surged up to the 1520.00 level! On the intraday chart the drop from 1522.40 to the current low of 1499.40 looks to be a small corrective pattern. If it is complete at the 1499.40 low then gold is now heading above the 1522.40 level....Read More
SRSrocco While the gold and silver prices have broken out higher, precious metals investors are wondering if the rally will continue throughout the rest of the summer. Since the beginning of June, gold has gone up $250 while silver has increased $3. Gold is now trading above $1,500 for the first time since 2013 and silver has finally penetrated a key resistance level held for the past six y...Read More
By: Ira EpsteinGold's 18-DMA moving higher, today in the $1460's. Gold show bullish signs:Read More
AAPL shares were atop the Dow by day's endStocks got a shot in the arm today, thanks to news the Trump administration plans to delay some tariffs previously expected to go into effect in September. President Donald Trump admitted to the press that the move was meant to take the burden off consumers during the holiday season, and the news was a boon to the tech sector in particular, with Apple (AAP...Read More
AAII bears doubled from a week earlierIt's been a rocky month so far for the U.S. stock market. After hitting an all-time high above 3,000 in late July, the S&P 500 Index (SPX) plummeted to a two-month low in early August, amid concerns about the U.S.-China trade war, future Fed policy, and a global recession. Against this backdrop, several sentiment indicators are lighting up-- and here's what th...Read More
News the U.S. will delay some Chinese tariffs is boosting U.S. stocksThe U.S. stock market is surging today on reports the U.S. will delay additional tariffs on several Chinese goods ahead of the holiday shopping season. The retail sector in particular is rallying on the news, with Walmart Inc (NYSE:WMT), American Eagle Outfitters (NYSE:AEO), and Best Buy Co Inc (NYSE:BBY) among some of the bigges...Read More
A previous version of this column included an incorrect unit of measure for copper. This story has been corrected. AFP/Getty Images Gold futures ended lower on Tuesday, falling sharply from their highest intraday levels in more than six years, after the U.S. announced that it would delay tariffs on some Chinese goods and scheduled further talks in an effort to resolve the trade dispute between th...Read More
The FAANG stock is leading the Dow todayNews that the U.S. will be delaying tariffs on certain Chinese goods, including cell phones and laptop computers, has the Dow on the rebound today, with Apple Inc (NASDAQ:AAPL) at the helm. The tech giant has gained 4.1% so far, and is currently perched at $208.70 -- trading back near its pre-bear gap levels from earlier this month and eyeing its highest cl...Read More
Genworth Financial stock is a top performer todayGenworth Financial Inc (NYSE:GNW) is one of the best stocks on the Street today, up 13% at $4.35, thanks to news the financial firm is selling a 57% stake in its Canada business to Brookfield Business Partners for $1.81 billion. While this sets GNW shares up for the best finish, and the first above the 200-day moving average, since February, options...Read More
Pullbacks to the stock's 160-, 200-, and 320-day moving averages have preceded big ralliesIt's been a rough August for the U.S. stock market, with the tech sector taking a notable hit on escalating U.S.-China trade rhetoric. This weakness may have created buying opportunities among individual names, though, with FAANG stock Amazon.com, Inc. (NASDAQ:AMZN) now trading near a trio of trendlines that...Read More
The Trump administration is removing certain items from the tariff listThe Dow Jones Industrial Average (DJI) is headed for a massive rebound, up more than 400 points and eyeing its biggest surge in two months. The major turnaround comes after the United States Trade Representative said 10% tariffs against certain Chinese goods -- including several electronics and clothing items -- will be put off...Read More
The company's recent earnings reports have not been kind to the stockThe shares of Nvidia Corporation (NASDAQ:NVDA) are down 0.8% to trade at $150.19 this morning, after RBC cut its price target on the chip name to $190 from $200. The bear note comes as Nvidia prepares for its turn in the earnings confessional, set for after the close on Thursday, Aug. 15. Looking at Nvidia's earnings history,...Read More
The firm's stomach cancer treatment met its main goal in a late-stage studyThe shares of biotech name Deciphera Pharmaceuticals Inc (NASDAQ:DCPH) have more than doubled this morning after the durgmaker announced that its lead treatment, ripretinib, met its main goal during a late-stage study in patients with stomach cancer. The stock has shot up 100% at $39.95, trading right back near its June 20...Read More
Call options on AAP have been popularAdvance Auto Parts, Inc. (NYSE:AAP) is trading down 7.9% this morning at $130.95, after the company reported adjusted earnings per share of $2, falling short of analysts' estimates of $2.21, while it also lowered the upper end of its full-year forecast. This earnings pullback would seem to be bad news for a number of options traders, who had been targeting call...Read More
Option premiums look attractive on the stockCruise line Carnival Corp (NYSE:CCL) has been wildly underperforming on the charts. The stock has shed 22% over the past 12 months, and is continuing to see pressure from its historically bearish declining 40-day moving average. With a large block of puts expiring this week at the underfoot 45 strike, removing a potential layer of options-related support...Read More
The latest inflation data is also on Wall Street's radar Dow Jones Industrial Average (DJI) futures are pointed sharply lower this morning, with the blue-chip index set to build on yesterday's geopolitical-inspired sell-off. Investors are nervously eyeing a narrowing of the 2-year and 10-year Treasury yield spread, as rare occurrences of a yield curve inversion have previously preceded recessions....Read More
The stock plunged 9.6% yesterday after the country's election resultsJ.P. Morgan Securities upgraded Mercado Libre, Inc. (NASDAQ:MELI) to "overweight" from "neutral," and lifted its price target to $750 from $563 -- a 20% premium to last night's close at $623.65 -- saying the Argentinian online auction name has shown strength in an underpenetrated e-commerce area. The brokerage firm also cited an...Read More
Calling out some key levels in play amid the buck's breakout"As your President, one would think that I would be thrilled with our very strong dollar," posted the @realDonaldTrump Twitter account this past Thursday, Aug. 8. "I am not!" President Trump's Twitter went on to take the Federal Reserve to task for its "high interest rate level," "keeping the dollar high," and generally "call[ing] it wron...Read More
A bullish reversal.Reason one: Central bank policy and buying.Reason two: Currency devaluation around the world.Reason three: The long-term chart.Reason four: Uncertainty - UGLD on dips in a bull market will turbocharge returns.My introduction to working in the commodities market came during the summer of 1977, when I worked delivering telex messages at the leading raw materials trading company in...Read More