In an interview I did last week with USA Watchdog's Greg Hunter, I came across as a lukewarm gold bull. Although many of those who commented apparently agreed with my grim deflationary scenario for the global economy, the negative implications this could have for gold did not resonate with Greg's audience.In fact, I see significant appreciation potential for gold, although not to the celestial...Read More
By: David Chapman Elliott Wave International (www.elliottwave.com) (EW) recently noted an interesting piece of market symmetry in an addendum to its March 2019 Elliott Wave Theorist dated March 26, 2019. We thought it interesting enough to repeat it to the readers of the Technical Scoop. What EW showed was how the topping process of 2018-2019 has mirrored to a "striking degree" the topping p...Read More
It was a broad-based rally on Wall Street Stocks had a strong showing today, rallying out of the gate for a convincing start to the second quarter. Traders cheered signs of improving economic conditions in China and the U.S., with tech shares leading the S&P 500 and Nasdaq higher. Still, strength was seen across the board, as the financial sector, including Dow components JPMorgan Chase, Goldman S...Read More
Alamos Gold (TSX: AGI; NYSE: AGI) will sell a portfolio of 18 royalties on assets not owned by Alamos to Metalla Royalty and Streaming (TSXV: MTA; MTAFF) for $8 million in Metalla shares.The portfolio includes a 2% net smelter returns royalty (NSR) on Agnico Eagle Mine's El Realito gold deposit, adjacent to its La India mine in Sonora, Mexico, plus 1.5% and 1% NSRs on Monarch Gold's Wasamac gold p...Read More
A bearish signal just flashed amidst the gaming sector's Macau liftCasino stock Las Vegas Sands Corp. (NYSE:LVS) is higher, along with several sector peers, after Chinese gambling territory Macau reported well-received revenue data for March. As a result, the security is up 3.7% at $63.26 -- trading at a level not seen since early September. However, traders may not want to bet on LVS just yet. Th...Read More
The brokerage firm downgraded the shares to "hold"It's a rip-roaring start to the second quarter, with the stock market rallying on upbeat global manufacturing data. Among individual stocks making notable moves are online family care marketplace Care.com Inc (NYSE:CRCM), marketing analytics firm Comscore, Inc. (NASDAQ:SCOR), and pulmonary disease specialist Pulmatrix Inc (NASDAQ:PULM). Here's a qu...Read More
The security tends to struggle in April, tooThe shares of Puma Biotechnology Inc (NASDAQ:PBYI) are down 9.3% to trade at $35.29, one of the worst stocks on the Nasdaq today, after the company inked an exclusive licensing deal with Pierre Fabre to develop and commercialize its cancer treatment, Nerlynx, in the European Union. The shares are likely suffering because, as analysts at Guggenheim and...Read More
Gold futures finished lower Monday after upbeat readings on economic activity in China and the U.S. helped to momentarily soothe some worries over global growth, providing a lift to equity markets and a drag on assets perceived as havens. Gold for June delivery GCM9, +0.07% the most active contract, fell $4.30, or 0.3%, to $1,294.20 an ounce. May silver SIK9, +0.16% was off 1.1 cents, or less th...Read More
Gold futures finished lower Monday after upbeat readings on economic activity in China and the U.S. helped to momentarily soothe some worries over global growth, providing a lift to equity markets and a drag on assets perceived as havens. Gold for June delivery GCM9, +0.10% the most active contract, fell $4.30, or 0.3%, to $1,294.20 an ounce. May silver SIK9, +0.23% was off 1.1 cents, or less th...Read More
Stocks broke above their short-term consolidation on Friday and they got close to the recent local high. The S&P 500 index was the highest since the early October more than a week ago. But then the market traded within a consolidation. Will the uptrend resume today?Briefly:Intraday trade: The S&P 500 gained 0.7% on Friday, after opening 0.5% higher. The market will probably open higher aga...Read More
Kirkland Lake Gold posted revenues of $280.32 million for the fourth quarter of 2018, compared to year-ago revenues of $212.36 million.Simple: I like Kirkland Lake Gold mainly because the company owns two outstanding mines that guarantee a steady success at least for the next three years.I believe that Kirkland Lake Gold qualifies as a long-term investment due to its excellent balance sheet and i...Read More
Craig-Hallum believes the Apple troubles could persist for CirrusFabless semiconductor concern Cirrus Logic, Inc. (NASDAQ:CRUS) is trading sharply lower today, after Craig-Hallum said the company's adaptive noise cancellation (ANC) is not in the new Apple AirPods 2, according to iFixit teardown. What's more, the brokerage firm suggested more Apple-related headwinds could be in store, since its cha...Read More
Speculators are gambling on more short-term upsideCasino stocks are mostly higher today, thanks to the latest data out of gambling enclave Macau. Specifically, while Macau revenue fell 0.4% year-over-year in March, it was the biggest month of 2019 and was in line with expectations. In addition, optimism about U.S.-China trade relations is also likely boosting stocks with exposure to both countries...Read More
The stock has been among the best to own in Q2, historicallyThe shares of video game maker Electronic Arts Inc. (NASDAQ:EA) ended the first quarter with a gain of nearly 29% -- their best quarter since the end of 2014. What's more, EA stock could extend its 2019 rally over the next few months, if recent history is any indicator.Specifically, the maker of the "Apex Legends" and "Battlefield V" game...Read More
Stocks and risk-sensitive currencies on the rise Stocks and risk-sensitive currencies on the rise after strong PMI data for China and Japan. The US government Bonds yield with a maturity of more than two years has turned to growth since last week Stocks Stock markets show growth after the release of strong data for China and Japan as their respective PMIs were better than expected which supported...Read More
GameStop stock has struggled to break above key levels of resistanceInvestors are gearing up for a quarterly report out of GameStop Corp. (NYSE:GME), set for after the market closes tomorrow, April 2. Below we will take a look at how the video game retailer has fared on the charts, and dive into what the options market is pricing in for the stock's post-earnings move.GameStop stock is down 0.6% a...Read More
Bitcoin Gold breaks above the trendline resistance supported by the 100 SMA. RSI and MACD indicators are bullish bias. Bitcoin Gold is among the coins that are posting gains on the first day of April. According to FXStreet’s cryptocurrency live rates, BTG/USD is up 4% on the day. The bullish movement comes after Bitcoin Gold spiraled below several support levels at $13.40, and $13.00. The...Read More
Traders are cheering strong data from the U.S. and ChinaThe Dow Jones Industrial Average (DJI) is up more than 250 points at midday, on lingering optimism over this morning's encouraging Chinese manufacturing data. Echoing that, U.S. manufacturing activity rebounded in March, per the latest data from the Institute for Supply Management (ISM), while February construction spending increased. As suc...Read More
MSFT options are attractively priced at the momentMicrosoft Corporation (NASDAQ:MSFT) is less than two weeks removed from its March 21 record high of $120.82. Amid MSFT's climb up the charts, call options have been flying off the shelves lately. In fact, the equity showed up on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that have attracted the highest total options volume...Read More
The shares surged more than 80% in the first quarterMaryland-based orphan disease specialist Cerecor Inc (NASDAQ:CERC) has flown under the radar of analysts. At last Friday's close, just one analyst covered the biopharmaceutical stock, maintaining a "strong buy" rating and $9 price target. Earlier today, though, H.C. Wainwright initiated coverage on CERC stock with a "buy" rating, and $11 price ta...Read More