How far might markets plunge next time around?And will you be able to recover your losses rapidly?Answers - possibilities, rather - shortly.And is one of Wall Street's oldest chestnuts of investment wisdom tragically wrong?This question too we will tackle.But first to that vicious den of sin and iniquity - the stock market.The Dow Jones roared 353 points today. The S&P rallied 28 points and th...Read More
The dollar plays a direct role in the fate of gold.There is a steady inverse correlation between gold and the U.S. real interest rate.Let's look at gold, assuming that its price is a function in which the independent variables are the U.S. dollar index and the level of the U.S. real interest rate.A week ago, I published an article about gold, in which I pointed out that there are not enough driver...Read More
With things shaping up so well for gold, we can certainly take any short-term correction in our stride, and more than that, we can seize upon it as an opportunity to build positions further across the sector, whether by means of ETFs, stocks or options, and of course, gold itself.Several factors suggest that a modest short-term correction is likely before the major breakout occurs. Gold is overb...Read More
A surging tech sector propped up Wall Street todayThe Dow started Fed week on the right foot, finishing modestly higher. A surging tech sector -- including Cisco Systems (CSCO) -- helped power gains today, while offsetting lackluster manufacturing and housing data. Trade tensions with China remain elevated, however, especially after Commerce Secretary Wilbur Ross said President Donald Trump is "p...Read More
An earnings beat could prompt short-covering tailwinds for KMXCarMax, Inc (NYSE:KMX) is scheduled to report earnings before the open this Friday, June 21, and the stock just received a bullish analyst note ahead of the event. Credit Suisse upped its price target to $90 from $84, which follows another price-target hike to $100 at Oppenheimer on Friday. There's also been plenty of buzz in KMX's opti...Read More
BMO just downgraded DOW stock to "market perform"Markets are higher this afternoon on gains from tech giants Apple (AAPL) and Cisco Systems (CSCO). Several other stocks are making notable moves today, too, including fellow blue chip Dow Inc (NYSE:DOW), sporting goods retailer Hibbett Sports, Inc. (NASDAQ:HIBB), and drug name ContraVir Pharmaceuticals Inc (NASDAQ:CTRV). Here's what's moving the sha...Read More
Rumors are swirling FB's Project Libra reveal will happen tomorrowFacebook, Inc. (NASDAQ:FB) stock is red-hot today, as buzz builds around the company's cryptocurrency, expected to be launched as early as tomorrow, June 18. Ahead of the highly anticipated Project Libra reveal, FB stock is trading up 3.2% at $187.07, set for its highest close since May 10. FB options traders are getting in on the a...Read More
Gold futures finished lower on Monday, following a four-session streak of gains, pressured by uncertainty ahead of a meeting of the U.S. Federal Reserve that's expected to offer hints on the central bank's plan on interest rates. International trade clashes and a concern over a weakening global economy, however, limited losses for the haven metal. The yellow metal for August delivery GCQ19, -0.1...Read More
Gold futures finished lower on Monday, following a four-session streak of gains, pressured by uncertainty ahead of a meeting of the U.S. Federal Reserve that's expected to offer hints on the central bank's plan on interest rates. International trade clashes and a concern over a weakening global economy, however, limited losses for the haven metal. The yellow metal for August delivery GCQ19, -0.0...Read More
Short sellers could be shaking in their bootsSeveral healthcare stocks are higher today, led by Pfizer (PFE) buyout target Array Biopharma (ARRY). In addition, fellow biotechArQule, Inc. (NASDAQ:ARQL) is among the best stocks on the Nasdaq today, following upbeat drug data. Likewise, Incyte Corporation (NASDAQ:INCY) shares are higher on encouraging data for the company's vitiligo treatment. Agains...Read More
The stock has more than tripled in 2019The shares of prepaid debit card provider Paysign Inc (NASDAQ:PAYS) have soared more than 200% in 2019, and hit an all-time high of $13.63 last week. But today the stock's down 11.3% at $11.27, after brokerage firm BTIG downgraded its rating to "neutral" from "buy." The analyst note suggested that Paysign's strong growth is already priced into the stock price...Read More
HRS options are attractively priced, tooHarris Corporation (NYSE:HRS) is a defense contractor and tech name that doesn't get the publicity of bigger names like Lockheed Martin (LMT) and Raytheon (RTN), despite its merger with L3 Systems back in October. As far as the stock is concerned though, investors may want to take notice, as its flashing two bullish signals that could present intriguing buyi...Read More
A bullish signal just sounded on the charts for CSCOThe shares of blue chip Cisco Systems, Inc. (NASDAQ:CSCO)pulled back after clocking an 18-year high of $57.56 just last week. The pullback was in part sparked by William Blair's bear note, and the stock is starting this week off strong, trading up 1.2% at $55.43. Plus, the equity sounded a bullish signal that could propel it even further up the c...Read More
Apple and Cisco are two of the best Dow stocks at middayThe Dow Jones Industrial Average (DJI) is trading in positive territory at midday, as big gains for Apple (AAPL) and Cisco Systems (CSCO) highlight a bouncing tech sector. This is helping offset a dismal Empire State manufacturing index, which fell into contraction territory for the first time in two years in June, while a separate report fro...Read More
Puts have been popular among Momo options tradersShares of Chinese tech giant Momo Inc (NASDAQ:MOMO) are inching higher this afternoon, last seen up 0.2% at $31.12. The equity has had a volatile year on the charts, recently seen stuck in a series of lower highs following its early January annual low of $22.50. Longer term, MOMO has shed 41% over the past 12 months. Further downside may be in the...Read More
The high in gold of $1,362.20 completed the pattern into the weekly sell 1 level.The market closing above the average price means that the market is coming into next week with a neutral to bullish trend momentum.If the market closes below $1,343, it negates the bullishness and activates the buy 1 (B1) level of $1,325 to the buy 2 (B2) level of $1,305.We used the proprietary Variable Changing Price...Read More
The bear note comes amid valuation concernsThe shares of Walt Disney Co (NYSE:DIS) are down 1.2% at $139.94, after the Dow stock was hit with a rare bear note. Specifically, Imperial Capital downgraded Disney to "in line" from "outperform," saying the equity is now at "record multiples" following its recent rise up the charts. The brokerage firm maintained its price target of $147 -- modest upside...Read More
Options traders have been picking up SYMC callsThe last time we checked in on Symantec Corporation (NASDAQ:SYMC) a month ago it was selling off after an ugly earnings release, and Wedbush called the stock "dead money." After finding support in the $17.50-$18 area, SYMC stock closed last week at $19.36, and now another analyst is moving in, saying it's a good time to pick up the shares. Specificall...Read More
The retailer's registers experienced two separate malfunctions over the weekendThe shares of Target Corporation (NYSE:TGT) are tradinglower this morning, after the chain retailer's credit card system ran into two unrelated glitches on Saturday and Sunday that made it impossible to process certain payments. The first outage was due to an "internal technology issue," while the second outage was due...Read More
Most analysts are still skeptical of KDP, thoughThe shares of Keurig Dr Pepper Inc (NYSE:KDP) are up 2.7% to trade at $29.40 this morning, after BMO upgraded the beverage maker to "outperform" from "market perform." While also raising its price target to $34 from $27, the analyst in coverage glowed about the company's valuation, calling it a discount to Keurig's non-alcohol sector peers.Keurig D...Read More