- PlungerThis weekend I would like to review the state two markets. The general stock market and the precious metals market. Following this I will give an update on Plungers Core-7 portfolio.Consider this report an opportunity to read an alternative view of the markets. My views of the major averages are certainly at odds with consensus opinion. Furthermore, they are also at odds with th...Read More
It's a case of "so far so good" for gold, which is breaking out on schedule from its giant complex Head-and-Shoulders base that may also be classified as a Saucer base, as can be seen on its latest 10-year chart...On the 4-year chart we can see that gold's breakout move last month has resulted in its becoming overbought, which partly explains why is hasn't gone anywhere in recent weeks. This is...Read More
Traders dumped stocks in the final hour on Friday, hinting that there actually is a threshold at which bad news begins to matter. For one, Black Rock, arguably the smartest money on the planet, reported a 7% drop in profits. If they can't cut it, is there any hope for the rest of us? In the Middle East, Iran was doing more than merely rattling its saber: agents of the mullahs boarded and seize...Read More
It was another choppy day on Wall StreetIt was another choppy trading session today, with little in the way of big-name earnings reports to digest and no economic data on the docket. However, a strong day for tech stocks kept the S&P and Nasdaq in positive territory for the whole session, while big wins for Intel (INTC), Apple (AAPL), and Microsoft (MSFT) helped pull the Dow into the green by the...Read More
PAYS stock was up 397% year-to-date through last Friday's closeStocks are mixed at midday, but little changed overall as investors anticipate a few big names in the earnings confessional later this week. Three stockson Wall Street's radar today are biotech name Amgen Inc (NASDAQ:AMGN) and e-payment concern Paysign Inc (NASDAQ:PAYS), and biopharma issue Galapagos NV (NASDAQ:GLPG). Here's a look at...Read More
SPWR has pulled back to its 30-day trendlineSunPower Corporation (NASDAQ:SPWR)has pulled back sharply in the last two weeks, logging weekly losses of 2.8% and 5.8%, respectively. As SPWR prepares for its turn in the earnings confessional -- set to report second-quarter earnings after-the-close next week, Wednesday, July 31 -- this recent pullback could present a unique buying opportunity, if past...Read More
BYND stock is up almost 13% todayBeyond Meat Inc (NASDAQ:BYND) stock surged all the way up to $199.44 earlier -- just shy of its June 18 record high of $201.88 --- last seen trading up 12.7% at $199.15. It's not clear what the catalyst is for the bull gap, but options traders are reacting, targeting even more upside for the plant-based burger stock by week's end.At last check, roughly 120,000 call...Read More
Silver futures settled at a 13-month high on Monday, outpacing strength in gold, which saw prices eke out only a modest gain. Rising geopolitical worries on the back of Iran's seizure of a British-flagged tanker, as investors look for major central banks to ease policy, provided support for the precious metals. September silver SIU19, +0.02% rose 21.6 cents, or 1.3%, to settle at $16.411 an oun...Read More
Shares of RTN have struggled to push above $185 this year, but a breakout could be imminentShares of U.S. defense contractor Raytheon Company (NYSE:RTN) are moving higher this afternoon, last seen up 0.6% at $179.61. RTN has been relatively stagnant since mid-February, struggling to break above the $185 mark. However, the stock has held onto its 17% year-to-date lead, and with new Iran tensions s...Read More
Production for the 2Q'19 was solid with an estimated 14,859 Oz Au Equivalent, up 36.9% sequentially and up 18.2% compared to the same quarter a year ago.Those numbers also include 1,678 Au Oz and 972 Ag Oz from Isabella Pearl first production. Future growth is tremendous with the new Isabella Pearl mine.Gold Resource has an excellent financial position and run by prudent management, which is...Read More
Several FAANG names are due to report earnings this weekThe Dow Jones Industrial Average (DJI) is lower at midday, erasing early morning gains as investors prepare for the latest batch of earnings reports, including several FAANG names set to report later this week. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) arehigher, though, enjoying modest gains thanks to semiconductor sector tai...Read More
Calls have been popular on both namesTrade tensions between Washington and Beijing have kept U.S.-listed Chinese stocks on the collective radar. Two names in particular that options traders have been eyeing are Hangzhou-based e-commerce concern Alibaba Group Holding Ltd (NYSE:BABA) and Shanghai-based electric car maker Nio Inc (NYSE:NIO).In fact, both BABA and NIO popped up on a list of stocks tha...Read More
Investors have poured $4B into a flat-lining bond play over the last seven weeksAt its intraday high last week -- which also happened to be its opening level on Monday morning, July 15 -- the S&P 500 Index (SPX) was trading just north of 3,017, in the neighborhood of a 10% return from its June 3 closing low (and, as a point of interest, from its March 8 closing low, as well). And by the time the t...Read More
Two brokerage firms doled out price-target hikes ahead of Amazon's earnings reportRetail giant Amazon.com Inc (NASDAQ:AMZN) just unveiled its plans to build two new robotics fulfillment centers in Ohio, one in Akron and one in Rossford, which will create over 2,500 full-time jobs. The FAANG name is getting bullish analyst attention today, too, with a price-target lift from KeyBanc to $2,200 from $...Read More
Disney stock is set to resume its long-term climbWalt Disney Co (NYSE:DIS) is in focus this morning following the release of its highly anticipated "The Lion King" remake, which brought in $531 million globally, and $185 million here at home, making it the largest U.S. July movie opening ever. And while critic reviews came in mixed, the film received an 89% score from audiences on Rotten Tomatoes,...Read More
This is the second upgrade the stock has seen in as many weeksThe shares of Stitch Fix Inc (NASDAQ:SFIX) have swung 3% higher this morning to trade at $27.70, after Stifel upgraded the online personal styling name to "buy" from "hold," saying recent weakness in the retail stock creates an "attractive entry point." The brokerage firm also sees growth opportunity in the U.K., and thinks new features...Read More
The White House will host a chipmaker summit to discuss the Huawei banIt's a big morning for the semiconductor sector, after a Friday report that White House economic adviser Larry Kudlow and Treasury Secretary Steven Mnuchin will meet with tech executives to go over the U.S. ban on sales to China's Huawei Technologies. Perhaps the stock enjoying the news the most is Micron Technology, Inc. (NAS...Read More
The pre-Fed meeting week is packed with earnings reports from big namesWith investors turning a hopeful eye to an earnings-packed week, Dow Jones Industrial Average (DJI) futures are tacking on gains, following Friday's choppy trading session. Specifically, investor focus will be turned towards upcoming quarterly reports from several FAANG stocks, including Amazon (AMZN) -- which just got a price-...Read More
Gold is robust and sometimes anti-fragile making it a great addition to any portfolio especially with an uncertain future.Expanding debt in the corporate and government sector eludes to an uncertain future.Owning tangible gold is the best method for hedging.I have increased my position in gold because I feel uncertainty about the future has increased. Gold has long been a commodity that is robust...Read More
A closer look at the small-cap chart pattern that "screams indecision""Do not be surprised if round numbers like SPX 3,000 and Dow Jones 27,000 act as barriers in the short term. For what it's worth, SPX 3,008 is around 20% above the 2018 close, and could act in concert with SPX 3,000 as resistance. There was evidence of this resistance on Wednesday and Thursday, as the SPX effectively went sidewa...Read More